Mergers and Acquisitions: Sell Side for InteliCoat

InteliCoat

  • Background:  Headquartered in South Hadley, Massachusetts,  InteliCoat develops and markets high-performance imaging products, custom coatings, and laminates, offering digital imaging substrates; fine art and photo media products; digital fine art media products; ink jet media products for the reprographics market; and ink jet proofing media products.
  • Cassel Salpeter:
    • Served as the exclusive financial advisor to the Company
    • Ran a competitive sales process, identifying and contacting over 50 strategic and financial parties
  • Challenges:
    • Deteriorating economics and declining industry dynamics
    • Changing business model created legacy liabilities with respect to prior manufacturing facilities and lease obligations
  • Outcome: In August 2013, InteliCoat Technologies Digital Imaging Holdco, Inc., an affiliate of Sun Capital Partners, Inc., was sold to Exopack Holding Corp., an industry leader in precision-coated papers, films, and specialty substrates, based in Spartanburg, SC.