Nautic Partners LLC of Providence, Rhode Island has finalized its purchase of Maryland Heights company Spartech LLC.
The company was part of Arsenal Capital Partners, and is a prominent manufacturer of custom engineered plastic extrusions such as acrylics. Industries from aerospace and automotive to Packaging and marketed goods use the product.
In a press release, Spartech Chief Operating Officer John Inks expressed his enthusiasm about working with Nautic as Spartech grows. Nautic has the same goals as Spartech such as growth, investments, and a better experience for the customer.
According to Nautic Managing Director Chris Pierce, Spartech's management group was strong and had depth and customer relations were long lasting. Finally, Spartech's is proficient in creating difficult products like multilayered and flame retardant plastics. This is what enticed Nautic to partner with it.
The company is certain that Spartech will continue to provide innovative solutions to customers as it has in the past. It will support the evolution of Spartech and continue to invest in chemicals as it did with IPS Corporation, which hastened confidence in Spartech.
Arsenal Operating Partner George Abd was Chief Executive Officer and Chairman of Spartech when Arsenal owned the company. He said Arsenal is happy to work with the company's management team to better its investments.
Nautic was represented by Locke Lord LLP while Arsenal and Spartech were advised by Baird and Kirkland and Ellis LLP, and BNP Paribas supplied transaction financing. Exchanging Corporate Gifts is one way to show amicable relations when a company is purchased by another.
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