AstroNova’s wholly owned Danish subsidiary, ANI, has signed a definitive agreement to acquire Trojanlabel for $9 million, with an additional earn-out potential of approximately ($5-7 million), subject to closing adjustments. The acquisition is subject to customary closing conditions and is expected to close at the beginning of February 2017. Following completion of the acquisition, Trojanlabel will operate as an indirect wholly owned subsidiary of AstroNova.
Gregory A. Woods, AstroNova president and CEO, said: ‘The acquisition of Trojanlabel dovetails with our strategy of identifying strong, profitable and growing businesses that directly complement one of our core lines of business.’
AstroNova designs, manufactures, distributes and services a broad range of products that acquire, store, analyze and present data in multiple formats. The product identification segment offers a variety of hardware and software products and associated consumables that allow customers to mark, track and enhance the appearance of their products. Major brands include QuickLabel, for onsite digital color label printing.
Trojanlabel’s major product lines include: standalone digital color label presses; digital color print station OEM modules for intermediate-volume markets such as print shops, label converters, manufacturers, brand owners, contract packaging and the secondary labels/logistics market; and an overprinting system that enables high-quality, 4-color printing on surfaces such as uncoated papers, cardboards and materials that are pre-treated for aqueous inkjet printing. The company also manufactures a table-top system designed for on-demand color-label printing.
"Trojanlabel has grown rapidly to become one of the leading manufacturers in the digital color label printer market," continues Woods. "Its products are well known for their innovative design and superior performance. Trojanlabel has an extremely talented R&D group that will help further accelerate our own product development process. Trojanlabel will expand our leadership position in the digital color label printer market, adding high-performance color label presses to AstroNova’s table-top printer products, and creating significant cross-selling opportunities. This acquisition also substantially expands our European manufacturing base and broadens the geographic footprint of our Product Identification business, complementing our strong North American direct sales force with Trojanlabel’s formidable dealer network in Africa, Asia, Europe and the Middle East."
Trojanlabel managing director Mikkel Wichmann adds: "Our companies not only align perfectly from a technology standpoint, but also share similar operating cultures. Like AstroNova, much of our success can be attributed to staying close to our customers and tightly managing product development and manufacturing processes to ensure a short time to market, and a focus on creating products that are cost-effective for a broad range of users and industries."