Argotec to Be Acquired by SWM
Argotec LLC, Greenfield, MA/USA,, a manufacturer of thermoplastic polyurethane (TPU) film and sheet, announced the signing of a definitive agreement to be acquired by SWM, Alpharetta, GA/USA.
SWM is a leading global provider of highly engineered solutions and advanced materials for a variety of industries. The transaction is expected to close once customary closing conditions are met, which is anticipated to occur during the fourth quarter of 2015.
Argotec, currently a portfolio company of Wind Point Partners, a private equity firm based in Chicago, Illinois, is a manufacturer of thermoplastic polyurethane films used in a wide range of industries and market segments, including automotive paint protection, glass lamination, medical, graphics, textiles, and other industrial applications. Today, Argotec has manufacturing, sales, and distribution employees in in the United States, Europe, and Asia.
Frederic Villoutreix, Chairman of the Board and Chief Executive Officer of SWM, commented “We are pleased to announce the acquisition of Argotec as another key milestone in the transformation of SWM and the continued buildout of our non-tobacco business. Argotec is a technology and quality leader in resinbased rolled goods with strong competitive positions in attractive niche market segments. Argotec films, which are complementary to our current extruded resin production capabilities, generate attractive margins in high-value added applications that serve diverse end-markets, such as paint protection, glass lamination, medical and graphics, offering solid growth prospects and further diversification for SWM.”
“Argotec will be included in the Filtration segment, which will be renamed Advanced Materials and Structures, or AMS, as of our fourth quarter earnings release to reflect how we are strategically managing the business and focusing on our core technologies. With the addition of Argotec, we believe AMS achieves meaningful scale, with annual Net Sales approaching USD 300 million and adjusted operating margin in the mid-teens", Villoutreix added.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.