Aug 7 2007
InteliCoat Technologies, a global leader in the manufacture of coated paper, film, and specialty substrates for imaging, medical, optical and electronic technologies, today announced that InteliCoat has sold its Electronic and Engineered Films (EEF) business unit to Exopack Holding, Inc., a leading North American flexible packaging converter and provider of paper and plastic packaging solutions for the food, industrial, and medical industries. Both InteliCoat and Exopack are affiliates of Sun Capital Partners, a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies. Terms of the transaction were not disclosed.
Joe Lupone President and CEO, stated, "The sale of our Electronic and Engineered Films business unit will allow InteliCoat to focus on its core competencies with respect to the global product development, manufacturing, and marketing of digital imaging media, including the market-leading Magic(R) brand of wide format aqueous and solvent ink jet media and will position InteliCoat to better service its worldwide digital imaging customer base, expand our investment in new product development, and pursue new opportunities globally in this growing market."
This new acquisition by Exopack will be renamed Exopack Advanced Coatings(TM) and will maintain its operations in Matthews, NC and North Wales in the United Kingdom. They will continue to develop and manufacture coated and/or laminated substrates for applications in printed wiring boards, flexible circuits, optical films for displays, high temperature, conductive and shielding tapes, components for wound dressings and ostomy products. Product brands include: Technilith(R) Duratool(R) for photo imagable films, and artwork protect films; inspire(TM) for medical films and foams; StratFX(R) for optical, and Reflex(R) for membrane touch switch applications.
Exopack Advanced Coatings will provide Exopack a gateway into new markets, as well as its first owned and managed facility in Europe. "We are very excited about this opportunity to expand our products and capabilities portfolio and strengthen the presence of the Exopack brand in the global marketplace," said Exopack President and CEO Jack Knott.
Alan Parker has been named as the Vice President and General Manager for Exopack Advanced Coatings. Parker was formerly the Managing Director of European Operations for InteliCoat. He will continue to work out of the North Wales facility.