ACON Investments, L.L.C. and its affiliates today announced the acquisition of International Imaging Materials, Inc., a global developer and manufacturer of value-added consumable solutions for industrial and medical applications, from Altus Capital Partners.
Headquartered in Amherst, New York, with additional operations in Belgium, Brazil and Mexico, IIMAK is a leading developer and manufacturer of Thermal Transfer Ribbons, Direct Thermal Films and Fluid Inks used to print on-demand variable information such as bar codes, text and graphics in Automatic Identification, Packaging, and Graphics markets. In addition, medical applications, such as orthopedic braces, sterile supplies, compression devices, and patient mobility products, are provided through iiMED Medical Manufacturing Solutions, a division of IIMAK.
Doug Wagner, IIMAK President and Chief Executive Officer, 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."
Anjali Jolly, Partner at ACON, commented, "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 has served as an advisor to ACON and will serve as IIMAK Chairman of the Board, 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." With more than 25 years of experience as a CEO and senior executive in companies such as Novanta, PerkinElmer, Honeywell and General Electric, Mr. Roush brings specific operating expertise in IIMAK's key markets such as thermal printing, auto ID/data capture and medical products.
Terms of the transaction were not disclosed.
About IIMAK
IIMAK is a global developer and manufacturer of value-added consumable solutions for industrial and medical applications. Headquartered in Amherst, New York, IIMAK employs over 1,300 people worldwide with additional manufacturing, distribution and sales operations in Belgium, Brazil and Mexico. IIMAK provides industrial consumable solutions which enable identification, tracking and promotion of products. Variable information such as bar codes, text and graphics can be printed using IIMAK technologies such as Thermal Transfer Ribbons, Direct Thermal Films and Fluid Inks. Medical applications are provided through iiMED Medical Manufacturing Solutions, a division of IIMAK. iiMED serves companies seeking outsource manufacturing services for Class I and II medical device consumables such as orthopedic bracing, sterile supplies, compression devices, and patient mobility products. For more information visit www.iimak.com.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. Founded in 1996, ACON has responsibility for managing approximately $5.3 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.
