Livingstone Stretches for Cross-Border Deal
February 2008
Europe’s largest stretch film producer, Manuli Stretch S.p.a. (“Manuli”), has announced the successful acquisition of a leading U.S.-based stretch film manufacturer, Quintec Films Corporation (“Quintec”). Livingstone Partners’ Chicago team identified the target and advised Manuli on the deal.
Headquartered in Italy and with annual sales in excess of $460m (€315m), Manuli is one of the world’s leading manufacturers of stretch films. The group also distributes a variety of packaging products, such as standard and special adhesive tapes, plastic and metal strapping, films for food products, and packaging machinery.
Manuli appointed Livingstone’s Chicago team in 2007 to source cross-border acquisitions in North America. Livingstone originated and led the negotiations between Manuli and several interested parties, ultimately pursuing Quintec to a successful completion.
Quintec develops and supplies co-extruded plastic films, producing conventional, high-performance and ultra-performance films for use in a number of industrial applications, as well as food and beverage packaging, wrapping, sealing, and masking and banding films. Founded in 1998 in Shelbyville, Tennessee, Quintec operates a 50,000 square foot facility that is centrally located to serve the entire US.
The Quintec acquisition marks Manuli’s first purchase of stretch film manufacturing assets in North America. Dr. Sandro Manuli, Chairman of Manuli Stretch, said, "We are enthusiastic about the opportunity that this represents to both companies. This acquisition, integrated with further ongoing projects in Argentina, Brazil and other American markets, will allow the strengthening of the leadership position of Manuli in this continent.”
Livingstone Partner Steve Miles added, “Quintec was the ideal target for Manuli based on size, technology and culture. Capitalising on our transatlantic capabilities to bridge cultural divides and facilitate the growth strategy of multi-national industrial companies justifies our own business model.”
The successful acquisition of Quintec marks the fifth transaction by Livingstone’s Industrial team, and the firm’s sixth trans-Atlantic transaction, within the past year.
For further information contact:
Steve Miles
T: 312 670 5901
E: miles@livingstonepartners.com