Acon Investments, along with its affiliates, has acquired US-based value-added consumable solutions producer International Imaging Materials (IIMAK) from Altus Capital Partners for an undisclosed sum.
Based in Amherst of New York, IIMAK is engaged in the development and manufacturing of value-added consumable solutions for industrial and medical applications.
IIMAK president and CEO Doug Wagner said: “We look forward to working with Acon in the coming years. In addition to Acon’s experience and resources, we believe Acon has the global reach that will help us accelerate our existing organic and acquisitive growth strategies.”
IIMAK produces thermal transfer ribbons, direct thermal films and fluid inks to print on-demand variable information such as bar codes, text and graphics in packaging, automation identification and graphics markets.
The firm offers industrial consumable solutions that help in identification, tracking and promotion of products.
IIMAK provides solutions, including continuous inkjet inks and analog pad printers, for use in flexible packaging applications.
It also offers high speed thermal transfer overprinters (TTO), continuous inkjet printer (CIJ) and analog pad printers for food packaging, healthcare and retail product applications. High speed should be maintained or imprinting date, price, lot and bar codes directly on flexible packaging.
With around 1,300 employees, the company has additional manufacturing, distribution and sales operations in Belgium, Brazil and Mexico.
The iiMED Medical Manufacturing Solutions, a business unit of IIMAK, also provides medical application solutions such as orthopedic braces, sterile supplies, compression devices and patient mobility products.
Acon partner Anjali Jolly said: “We are excited to collaborate with the IIMAK management team and provide the company the resources it needs to maintain its strong position in its core markets and to accelerate IIMAK’s growth and diversification initiatives.”
John Roush, who served as an advisor to Acon, will serve as IIMAK chairman of the board.
Roush said: “I look forward to working with Acon and IIMAK’s current leadership team to continue to drive growth at the company and execute its strategic plan.”
Established in 1996, Acon Investments is an international private equity investment firm, which manages private equity funds and special purpose partnerships to invest in firms located in the US, Latin America and Europe.