Flexo prepress system and plate manufacturer XSYS is poised to acquire the business of fellow flexo plate company MacDermid Graphics Solutions from Element Solutions Inc. in a transaction valued at approximately $325 million (€293 million).
Although approved by both companies’ boards of directors, the deal remains subject to regulatory approvals and customary closing conditions.
Reacting to the development, Graeme Dickinson, senior VP at MacDermid Graphic Solutions, said the business was excited to join forces with its erstwhile competitor. ‘XSYS has a great track record in the industry and the combined businesses will be poised for growth with a broader product offering, balanced global reach and a deep partner network.’
He added that the acquisition would align with MacDermid’s ‘long-term strategic goal to maximise value for customers and is intended to strengthen the successful track record of the business’.
Meanwhile, XSYS also has a new CEO starting, to replace the outgoing Oliver Dohn, who is leaving to pursue ‘other endeavours’. In his place comes Dr Alexander Unterschütz, who was most recently in charge of the components business at Linde Engineering. He was there for 14 years and was previously a management consultant at McKinsey & Company. XSYS said Dr Unterschütz has a strong track record of driving transformation programs and implementing successful growth strategies.
Of the acquisition of MacDermid, Dr Unterschütz commented, ‘Both businesses have highly complementary geographic footprints and product portfolios, which will enhance XSYS’ product offering and service levels as well as drive innovations to serve our customers even better.’
