ST. LOUIS , May 10, 2021 /PRNewswire/ -- Spartech, LLC ("Spartech") and The Jordan Company, L.P. ("TJC") announced that one of TJC's affiliates has closed the acquisition of Spartech, a leading manufacturer of engineered thermoplastics and custom packaging solutions. TJC completed the acquisition in partnership with Spartech's existing management team. Nautic Partners will remain a minority shareholder. As part of the transaction, industry veteran Andy Brewer has become Executive Chairman. The investment by TJC will provide Spartech with new opportunities for growth and enhance its abilities to develop and deliver plastics solutions to its valued customers.
"We are excited to work with The Jordan Company team as we continue to expand Spartech's technology, design, product development, and service offerings to deliver exemplary value for our customers," said Spartech CEO John Inks . "Given TJC's experience, they will complement Spartech's focus on innovation, speed and quality very well. We are confident we will continue to build on the strong customer relationships for which our company is widely recognized while expanding capabilities to enhance our ability to deliver unique engineered thermoplastics solutions for our customers. We look forward to partnering with Andy Brewer and TJC."
"We are thrilled to be partnering with the Spartech management team as the company builds on its recent success and enters its next phase of growth," said Dan Williams , Partner at The Jordan Company. "We will continue to invest heavily in the business to support organic growth and strategic acquisitions."
"Spartech has a reputation for providing high quality specialty engineered materials and delivering excellent customer service," said incoming Executive Chairman Andy Brewer . "I am excited to join the team and help drive innovation, growth and strategic acquisitions."
Winston & Strawn LLP acted as legal advisor and Houlihan Lokey , Inc. acted as financial advisor to TJC.
About Spartech
Headquartered in St. Louis, Missouri with a unique innovation center and 14 manufacturing facilities located throughout the United States , Spartech is a leading plastics manufacturer of engineered thermoplastic materials and specialty packaging products. Meeting exacting standards for everything from food and healthcare packaging, including sustainable solutions, to aerospace, medical devices, protective barriers and automotive applications, Spartech continues to make a world of difference with sustainable, diverse, reliable, and innovative products including Polycast ® , Royalite ® , PreservaPak™, Korad™, and UltraTuf™. https://spartech.com/
About The Jordan Company
The Jordan Company ("TJC") ( www.thejordancompany.com ), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $14 billion since 1987 and a 39-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including Consumer & Healthcare; Industrials; Technology, Telecom & Utility; and Transportation & Logistics. The senior investment team has been investing together for over 20 years and it is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York , TJC also has offices in Chicago and Stamford.
About Nautic Partners, LLC
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrials, and services. Nautic has completed over 140 platform transactions throughout its 35-plus year history. Nautic's strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $50 million or more. For more information, please visit www.nautic.com .
Media Contact:
For Spartech
Sheldon Ripson
sheldon@spokemarketing.com
636-751-5733
View original content to download multimedia: http://www.prnewswire.com/news-releases/the-jordan-company-closes-acquisition-of-spartech-301287089.html
SOURCE Spartech