SPARTECH
US film producer gets 4th owner in 9 years / Financial investor Jordan Company plans acquisitions
The new executive chairman of Spartech, Andy Brewer (Photo: Spartech)
Sheet, film and packaging manufacturer Spartech (Maryland Heights, Missouri / USA; www.spartech.com) has changed hands for the fourth time since 2012: compatriot investment company Nautic Partners (Providence, Rhode Island; www.nautic.com) has sold a majority stake in the company to another domestic financial investor, The Jordan Company (New York, New York; www.thejordancompany.com).

As part of the agreement, Andy Brewer, former CEO of US film manufacturer Transcendia (Franklin Park, Illinois; www.transcendia.com), is to become the executive chairman of Spartech. Nautic Partners continues to hold a minority stake. The parties involved did not provide any financial details.

In 2012, US-based PolyOne – now Avient (Avon Lake, Ohio; www.avient.com) – acquired Spartech for the equivalent of EUR 300m (see Plasteurope.com of 29.10.2012). After carving out the compounds division, PolyOne sold the company to compatriot Arsenal Capital Partners (New York, New York; www.arsenalcapital.com) in the summer of 2017 for EUR 100m (see Plasteurope.com of 24.07.2017). They in turn sold Spartech to Nautic Partners in the autumn of 2019. At the time, the packaging manufacturer was generating a turnover of USD 440m (EUR 360m) with around 1,000 employees at 14 plants in the US.

The new owner said it sees good acquisition prospects for the film specialist, thanks to the strong US economy for consumer goods and medical technology. The last acquisition of The Jordan Company, under CEO John Inks, was US-based Tufpak (Ossipee, New Hampshire; www.tufpak.com), a manufacturer of films for medical applications.
17.05.2021 Plasteurope.com [247631-0]
Published on 17.05.2021
Spartech: Folienhersteller binnen neun Jahren viermal verkauftGerman version of this article...

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