LOS ANGELES (Dec. 2, 2016) – Platinum Equity
announced today it has completed the sale of Mactac Americas, LLC, to LINTEC
Corporation in a transaction valued at approximately $375 million.
LINTEC, headquartered in Tokyo, is a
manufacturer of adhesive-related products with operations in 15 countries around
the world. Mactac, headquartered in Ohio, is a manufacturer and distributor of
pressure sensitive labels with operations in the United States, Canada and
Mexico. The company’s products are used
in a wide range of industries including label printing, graphic design, packaging,
digital imaging, retail display, fleet graphics, assembly engineering,
automotive assembly, and medical device assembly.
Platinum Equity acquired Mactac from Bemis
Company, Inc. in November 2014. In
August 2016, Platinum Equity divested Mactac’s European business to Avery
Platinum Equity Partner Louis Samson said Mactac
has experienced a significant turnaround in recent years and joins LINTEC with
“Mactac’s success during our ownership is a
testament to a strong partnership with the management team and a commitment to sustainable
operational improvements and new product innovation,” said Platinum Equity
Partner Louis Samson. “As a result, the
company’s financial performance has been superb and the business is well
positioned for continued growth and success.”
“Mactac’s success during our ownership is a testament to a strong partnership with the management team and a commitment to sustainable operational improvements and new product innovation,” said Platinum Equity Partner Louis Samson.
Samson said Mactac has achieved steady
top-line growth, healthy margins and dramatically improved earnings over the
past two years and noted that adjusted EBITDA grew more than 40% from 2014 to
Moelis & Company, LLC and Goldman, Sachs
& Co. served as financial advisors to Platinum Equity and Latham and
Watkins served as Platinum Equity’s legal counsel.
About Platinum Equity
Founded in 1995 by Tom
Gores, Platinum Equity (www.platinumequity.com) is a global investment firm
with a portfolio of approximately 30 operating companies that serve customers
around the world. Platinum Equity specializes in mergers, acquisitions and operations
– a trademarked strategy it calls M&A&O® – acquiring and operating
companies in a broad range of business markets, including manufacturing,
distribution, transportation and logistics, equipment rental, metals services,
media and entertainment, technology, telecommunications and other industries. Over
the past 20 years Platinum Equity has completed more than 185 acquisitions.