Tokyo-based Lintec Corp. has purchased Mactac Americas LLC to increase its presence in North America and to complement its film-based labels production.
In a Dec. 8 news release, Sumio Morimoto, executive officer and general manager of the printing and variable information products operations, said buying Stow, Ohio-based Mactac follows on previous acquisitions focused on Asia and Europe.
“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 … core business of the group,” Morimoto said.
Lintec plans to keep existing Mactec in place.
Mactec's private equity owner, Platinum Equity, valued the deal at $375 million. It has operations in the United States, Canada and Mexico. Its products are used in industries including label printing, graphic design, packaging, digital imaging, retail display, fleet graphics, assembly engineering, automotive assembly and medical device assembly.
Lintec said Mactac, which was founded in 1959, has annual sales of $304 million and posted operating income of $26 million for the year ended Dec. 31, 2015.
"While Lintec has strength in film-based products, the main products of Mactac are paper-based," Morimoto said. "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."
