An investment group formed by P J Desai, Mark Andy’s former chief executive officer, and the company’s current management team has completed the purchase of Mark Andy Inc from American Industrial Partners Capital Fund (AIP).
AIP will continue as a minority investor in the company along with Graycliff Partners, an independent investment firm focused on middle market investments.
The company has seen considerable growth in recent years with a focus on innovation and has positioned itself to embrace the industry’s shift to digital inkjet printing with its recently launched 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 the company’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 sulphuric acid plants and related high performance products.
Kevin Wilken, the company’s current chief executive officer, 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.’
