Bemis Company has reached an agreement to sell its pressure sensitive materials business (DBA MACtac) to Platinum Equity for a purchase price of $170 million. This transaction is expected to close during the fourth quarter of 2014.
MACtac is a producer of pressure sensitive materials 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. MACtac products are organized under five business segments as follows: roll label products, graphic products, sheet products, medical products, and specialty products. MACtac has manufacturing facilities in Scranton, PA; Columbus, IN; San Luis Potosi, Mexico; Soignies, Belgium; and Genk, Belgium; along with offices located north of Akron in Stow, OH and a worldwide sales and distribution network (www.mactac.com).
“We have developed a great relationship with Bemis and are pleased to have crafted a divestiture solution that meets their needs, while setting MACtac up for long-term success,” said Platinum Equity Partner Louis Samson, who leads the Platinum Equity team pursuing the acquisition. “We believe the company is well positioned for growth, both organically and through prospective add-on investments. We will provide MACtac the resources, support, and focus it needs to thrive as a standalone company.”
Platinum Equity invests in a range of industries including information technology, telecommunications, logistics, metals services, manufacturing and distribution. The firm has 19 years of experience owning and operating businesses that have been acquired from large corporate parent companies. Transactions that Platinum has completed over the last two years include carve-outs from AP Moeller Maersk, CBS, Emerson, and Volvo. Platinum Equity was founded in 1995 and is based in Beverly Hills with additional offices in New York and London (www.platinumequity.com).
Bemis Company is a supplier of packaging and pressure sensitive materials used by food, consumer products, healthcare, and other companies worldwide. Founded in 1858, Bemis is included in the S&P 500 index of stocks and reported 2013 sales of $5 billion. Bemis employs approximately 19,000 people worldwide and is headquartered in Neenah, WI (www.bemis.com).
“This transaction will provide an opportunity for the MACtac management team to execute its growth strategy as part of the Platinum Equity portfolio,” said William Austen, Bemis Company’s President and Chief Executive Officer. “Bemis is now positioned to dedicate all of our resources to accelerating strategic growth in our core flexible packaging business.”
Goldman, Sachs & Co. is acting as financial advisor and Baker & McKenzie is acting as legal counsel to Bemis Company.
2014 PEPD • Private Equity’s Leading News Magazine • 9-9-14
