Mark Andy Inc., a global leader in label and package
printing equipment, support, supplies and consumables, today announced that an
investment group formed by P.J. Desai, Mark Andy's former Chief Executive
Officer, and the current management team has completed the purchase of Mark
Andy, Inc. from American Industrial Partners Capital Fund IV, L.P. (AIP). AIP
will continue as a minority investor in Mark Andy along with Graycliff
Partners, an independent investment firm focused on middle market investments.
As a pioneer in the label printing equipment space, Mark
Andy has led the industry with award-winning breakthroughs in flexo printing
technology and workflows, as well as a total solutions approach to driving
profitability for converters around the world. Mark Andy has seen considerable
growth in recent years with a focus on innovation and is poised to capitalize
on the industry’s burgeoning shift to digital inkjet printing in the form of
its recently launched inline hybrid solution, the Mark Andy Digital Series.
"This was an outstanding opportunity to purchase an
established and innovative company with a strong core business of equipment,
consumable products and services for the label market, as well as several
exciting new products in the pipeline, including our new Digital Series inkjet
press," Mr. Desai said. "Combined, there are over 10,000 Mark Andy
and Rotoflex machines currently installed with a replacement value of over $1
billion. Together with our excellent management team, we are committed to
growing Mark Andy's already leading market position."
Mr. Desai served as Mark Andy's Chief Executive Officer from
2012-2014. Prior to that, he was President and CEO of Abencs, an engineering
and construction company, and MECS, Inc., a global leader in the design of
sulfuric acid plants and related high performance products.
Kevin Wilken, Chief Executive Officer at Mark Andy, said,
“The management team is very excited to work once again with P.J. Desai and to
be part of the ownership of such a great company. We have exceptional
customers, market-leading products and services that drive improved
profitability for our customers, and we have great people that love the
industry and take great pride in their work. The combination of dedicated
owner-managers and P.J.'s expertise and strategic thinking will continue
driving Mark Andy’s success and long-term growth strategy.”
Mark Andy will be exhibiting at Labelexpo Americas, September
9-11, 2014, where the new Digital Series will be debuted to a global audience.
In addition, the company continues its global market strategy and mission to be
the supplier of choice throughout the product life cycle, offering high
quality, innovative solutions that drive customer profitability. The company's
stand at the 2014 show will focus on displaying Mark Andy’s Total Solutions
Partner approach, offering complete workflow solutions to advance the
converters’ business.
