Nautic Partners has sold portfolio company Spartech LLC to The Jordan Company (TJC). Nautic Partners will remain a minority shareholder.
Headquartered in Maryland Heights, MO, Spartech is a leading custom manufacturer of specialised acrylics and other engineered extruded plastics used in a variety of applications and end markets including healthcare, aerospace and defence, industrial, automotive, consumer goods, and packaging. Through its network of 14 manufacturing plants and a unique innovation centre, Spartech provides acrylic products, plastic sheet and rollstock, specialty film laminates, and packaging solutions to over 1,000 customers in North America, many of whom have partnered with Spartech for decades. Spartech has a long history of providing customers with innovative material science formulations and engineered solutions. The company’s breadth of highly technical manufacturing capabilities is unique in the industry, utilising multiple plastic resin types and manufacturing processes including acrylic cell casting, stretching, multilayer extrusion, blown film, and thermoforming.
Chris Pierce, Managing Director of Nautic, says: “Spartech’s management team is one of the best I have worked with, and it is very impressive what they have accomplished to transform the business in a short period of time. We thank John Inks, Roger Sim, Joe Herres, Greg Zeis, Matt Gisoni, John Vandeven, Dave Gorenc, and the entire team for their accomplishments. It has been a pleasure partnering with them. Thanks to them, the company is well-positioned for continued organic and inorganic growth.”
Sean Wieland, a Principal of Nautic, says: “Spartech experienced strong organic growth through a combination of commercial and operational initiatives executed by the company’s deep and experienced management team. The team also closed and integrated its first add-on acquisition during our investment period. We are confident that the company will be able to continue to execute its growth strategy in partnership with TJC.”
John Inks, CEO of Spartech, says: “Spartech has always been committed to providing top-quality products, engineering, and service to our customers. In partnership with Nautic, we remained true to that commitment while successfully executing on operational enhancements and an organic growth strategy. We greatly enjoyed working with Nautic. They have been an excellent partner through the company’s evolution over the last two years, and we now look forward to working with TJC in the next chapter for Spartech.”
John Manzi, operating advisor to Nautic and former Executive Chairman of Spartech, adds: “John Inks and the management team have built Spartech into a leader in engineered thermoplastics and custom packaging by leveraging technology to consistently deliver exceptional quality and customer service across very diverse markets. We are confident in Spartech’s ability to stay on their growth trajectory and look forward to continuing our relationship.”
Piper Sandler’s Valence Group and William Blair served as advisors to Spartech and Nautic. McDermott Will & Emery served as legal counsel.