Livingstone, the leading integrated international investment banking boutique, has announced the successful representation of Manuli Stretch s.p.a. (“Manuli” or the “Company”), Europe’s largest stretch film producer, in the acquisition of a leading U.S.-based stretch film manufacturer, Quintec Films Corporation (“Quintec”). Transaction terms were not disclosed.
Headquartered in Italy and with annual sales in excess of $460 million (€315 million), Manuli is one of the world’s leading manufacturers of stretch films in production volume, sales and quality. The company 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 engaged Livingstone to execute cross-border acquisitions in North America. After canvassing the market for potential targets, Livingstone confidentially approached a select number of companies that fit appropriately within the Company’s strategic and growth objectives. Livingstone originated and advised in negotiations between Manuli and two interested parties, ultimately pursuing Quintec and successfully guiding Manuli throughout the process.
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. Capitalizing 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 sixth trans-Atlantic transaction, within the past year.
About Quintec Films Corporation
Quintec Films Corporation develops and supplies co-extruded plastic films. Recognized as the innovator and inventor of the world’s first seven-layer stretch film, Quintec produces 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 United States.
