Finland’s UPM Raflatac said it has acquired Lancaster-based Metamark to further accelerate its growth in the graphics business.

The enterprise value of the transaction is £146 million.

“Metamark, established in 1992 is a manufacturer and distributor of graphics solutions,” said UPM Raflatac.

“Its product portfolio consists of high-quality self-adhesive colour films, print films for large format colour printing, laminates and wrapping films for various end-uses.

“The company employs approximately 185 people and has a manufacturing site in Lancaster, UK. The sales of the company is approximately GBP 65 million, and it has an EBITDA margin accretive to UPM Raflatac.”

Tim Kirchen, Executive Vice President, UPM Raflatac, said: “We’ve made a strategic decision to pursue global growth in graphics both organically and through mergers and acquisitions.

“This acquisition marks an important milestone in our transformation journey accelerating our growth, enabling us to grow our scale and become a complete product and service provider in this attractive business.

“The combination of Metamark’s broad product portfolio with our existing sales and distribution network allows us to grow also outside of Europe.

“We warmly welcome our new colleagues and look forward to working together to serve our customers with an even stronger product portfolio.”

Metamark CEO Phil Wild said: “In joining the UPM Raflatac Graphics business unit, Metamark is securing a growth-focused future for our highly regarded specialist materials.

“This acquisition reflects the value of our market-led innovation, respected product portfolio, and ambitious plans for market and geographical growth. UPM brings the benefits of scale, resources, and a global presence, which will accelerate our shared vision for the graphics and allied markets.

“Metamark is excited to be part of UPM Raflatac and looks forward to a bright and prosperous future together.”