Mark Andy Inc. has 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.
For half a century, Mark Andy has been a pioneering force in the label printing industry, having developed award-winning breakthroughs in flexo press technology and workflows. Today, the company positions itself as a "total solutions provider." In addtion to its press manufacturing, the company's Print Products division offers a comphrensive range of flexo consumables. Mark Andy has seen considerable growth in recent years with a focus on innovation. The company recently launched its hybrid digital inkjet printing platform, 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," Desai says. "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."
Desai served as Mark Andy's CEO from 2012-2014. Prior to that, he was president and CEO of Abencs, an engineering and construction company, and MECS, Inc., a leader in the design of sulfuric acid plants and related high performance products.
Kevin Wilken, chief executive officer at Mark Andy, comments, “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.