MARYLAND HEIGHTS — Plastics maker Spartech LLC has a new owner.
New York private equity firm The Jordan Company announced its purchase of the suburban St. Louis business in a news release Monday. It said it worked "in partnership with Spartech's existing management team."
Andy Brewer, a former top executive at Jordan-owned plastic films maker Transcendia, will serve as Spartech’s executive chairman.
Terms of the deal were not disclosed.
The purchase is the latest in a series of deals for Spartech since the company sold itself to Cleveland-based plastics firm PolyOne for $393 million in 2013.
PolyOne sold most of the firm to New York private equity firm Arsenal Capital Partners in 2018, which in turn sold it to Rhode Island-based private equity outfit Nautic Partners the next year.
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Nautic will remain a minority shareholder after the Jordan deal, according to the new release.
Spartech maintains a headquarters and "innovation center" in Maryland Heights, which it build for $5.5 million in 2011, in addition to 14 manufacturing facilities around the country.