TOKYO--(BUSINESS WIRE)--LINTEC Corporation (hereinafter “LINTEC”) (TOKYO:7966)(ISIN:JP3977200009) has been in discussion with Evergreen Holdings IV, LLC (hereinafter “Evergreen”), a wholly owning investor of MACtac Americas Holdings, LLC, regarding the Acquisition of all the membership interests of MACtac Americas, LLC (head office: Ohio, the United States, hereinafter “MACtac”), a wholly owned subsidiary of MACtac Americas Holdings, LLC and a manufacturer and distributor of adhesive papers and films for printing in the United States. At a meeting held on October 24, 2016, the Board of Directors of LINTEC resolved to acquire all membership interests of MACtac through its wholly owned holding company in the United States, LINTEC USA Holding, Inc. (head office: Massachusetts, the United States), and concluded a purchase agreement with Evergreen. LINTEC completed procedures for the acquisition on December 1, 2016. Details are as follows:
Background on the Acquisition
LINTEC and its consolidated subsidiaries (hereinafter “the Group”) adopted a “return to a growth path through active management and continuous innovation” as their basic policy in LINTEC INNOVATION PLAN 2016 (LIP-2016), a three-year medium-term business plan launched in April 2014. Based on that policy, the Group has worked on key initiatives, such as “further promotion of global development” for expanding operations in countries and regions expected to achieve economic development and “promotion of strategic M&A” for rapidly executing business strategies.
MACtac will maintain its manufacturing bases in the United States and Mexico and continue to develop adhesive papers and films for printing, mainly in North America. It has built a solid position in the U.S. market by developing products using its unique excellent adhesion formula and high-speed coating technology. MACtac also deals with graphic sheets and various kinds of industrial and medical tapes.
LINTEC is convinced that full-scale entry into the North American market for adhesive papers and films for printing and proactive development of its original products using its own technological development capabilities through MACtac will contribute significantly to the acceleration of the global development of Printing and Variable Information Products Operations, the core business of the Group. LINTEC also plans to link MACtac’s acquisition to business enhancement and expansion not only in the North American market, but also Japan and other regions, by utilizing MACtac’s unique technical capabilities and brand equity and maximizing synergy with LINTEC’s technologies.
Overview of MACtac Americas, LLC
|- Company name||MACtac Americas, LLC|
|- Head office||Stow, Ohio, the United States|
|- Business description||Manufacture and sales of label materials for printing, VIP label materials, graphic sheets, industrial and medical tapes, etc.|
|- Net sales / Operating income||Net sales||US$ 304 million|
(Fiscal year ended December 31, 2015)
|Operating income||US$ 26 million|
|- Share of net sales||Materials for printing, VIP label materials 79%|
|Graphic sheets 12%|
|Industrial and medical tapes, etc. 9%|
We will provide customer companies in North America with high-quality
products by maximizing synergy effects.
LINTEC Corporation, Executive Officer, Sumio Morimoto
General Manager, Printing & Variable Information Products Operations, Business Administration Div.
Entering the North American market in earnest through the acquisition of a leading company
In recent years, the Group has been strengthening its local
manufacturing and sales bases mainly in Asia where the market continues
to grow rapidly, developing sales channels and expanding the brand
recognition in Europe by making its first full presentation in LABELEXPO
EUROPE 2015. In November 2016, the Group made LINTEC Graphic Films Ltd.
in the United Kingdom, which was a partner company in sales, a
subsidiary to further strengthen the network in Europe, including LINTEC
Europe B.V., a sales subsidiary in the Netherlands.
Subsequently, the Group has decided to acquire MACtac, a manufacturer of adhesive papers and films for printing, aiming to quickly build a sales channel that will cover the boundless market in North America that accounts for approximately 30% of the global adhesive label materials market and continues to grow stably at an annual rate of 2 to 3%.
Vigorously pushing forward with efforts to improve customer satisfaction by integrating with MACtac
The primary reason for choosing MACtac is that it has a long-standing
delivery record, strong brand power as well as excellent relations and
an impressive sales network with more than 1,000 quality customer
companies in the North American market. It is also a manufacturer that
has already established a firm footing as a peer of LINTEC. While LINTEC
has strength in film-based products, the main products of MACtac are
paper-based. In addition, MACtac has unique technology for formulating
hot-melt adhesives, which LINTEC does not have, as well as high-speed
coating facilities. Given these features, we believe that future
synergies are very promising.
We will provide customer companies mainly in North America with better quality products and services by developing and proposing new products through the integration of MACtac’s own technologies and LINTEC’s material development technologies, while proactively developing LINTEC’s original products in the North American market, harnessing brand power and the sales network of MACtac.
LINTEC is a leading company in the field of adhesive materials. The
product lineup covers many diversified fields including not only
adhesive papers and films for seals and labels, but also shatter-proof
window films, adhesive sheets for outdoor signs, interior finishing
mounting sheets, automobile-use adhesive products, semiconductor-related
tape, and LCD-related adhesive products.
LINTEC also develops and markets a diverse range of specialty paper products including color papers for envelopes, as well as release papers and films, and casting papers. The base paper, release liners used with adhesives are supplied internally and products using this process technology are widely available on the market.
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