Mactac, a leading supplier of pressure-sensitive adhesive solutions, announced that it has entered into an agreement to purchase the assets of Spinnaker Coating, LLC, representing $130 million of specialty revenue at a price of $40 million.
Spinnaker develops, manufactures, and markets adhesive-coated paper and film constructions for conversion by printers and industrial users into marketing, identifying, promoting, labeling, and decorating applications.
The deal consists of Spinnaker's manufacturing facility and headquarters based in Troy, Ohio, and North American distribution centers located in Atlanta, Georgia; Chicago, Illinois; Los Angeles, California; and, Vails Gate, New York.
Spinnaker will operate as a standalone subsidiary of Mactac.
"Our combined product offering now encompasses all adhesive technologies, including hot-melt, solvent, silicone and emulsion," said Ed LaForge, President and CEO of Mactac. "We offer a wide range of high-quality PSA materials for any application need, such as film, cast vinyl and specialty solutions. And, with Spinnaker's unique business model, we will expand Mactac and Spinnaker specialty labelstock offerings to create a model unlike any other."
Mactac expects the acquisition to close on Feb. 1, 2022.
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