TKO MILLER CASE STUDY
TKO Miller Advises ATL Corp. on its Sale to ADDEV Materials
Overview
Ad Tape & Label (dba ATL Corp.) specializes in producing disposable medical devices, extended content booklets, labels, and other printed or converted industrial and consumer products. Headquartered in Menomonee Falls, Wisconsin, ATL’s production capabilities include flexographic and digital printing, laminating, die cutting, material converting, and clean room manufacturing.
After owning the Company for nearly 40 years, the majority owner engaged TKO Miller because of its extensive expertise in plastics and packaging. TKO Miller was engaged to assist the Company in finding its next partner to continue its strong growth trajectory. At the advice of TKO Miller, ownership waited almost a full year to let a new product segment with a rapidly growing healthcare customer gain traction before launching a broad sale process. The sale process utilized TKO Miller’s strong relationships with both key strategic buyers in the packaging/medical device industries and private equity groups. The broad process allowed the Company to have multiple options and maintain transaction leverage. Outcome After a competitive process resulting in numerous final offers, ATL was acquired by ADDEV Materials, a France-based global provider of converting, manufacturing, and distributing high-performance products for the aerospace, automotive, energy storage, healthcare, and industrial markets. In ADDEV, ATL found a buyer that saw additional value beyond the Company’s financials. ADDEV sought to expand both its presence in the U.S. and its footprint in the broader healthcare space, and valued ATL’s customer base in key end markets and strong clean room production capabilities. In addition, ADDEV found value in ATL’s leadership team that could assist ADDEV’s entire U.S. operations.
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