Mark Andy Announces Company Sale; Management Team, Former CEO Lead Buyout
ST. LOUIS—August 21, 2014—Mark Andy announced that an investment group formed by P.J. Desai, Mark Andy's former CEO, and the current management team has completed the purchase of Mark Andy 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.
As a pioneer in the label printing equipment space, Mark Andy has led the industry with award-winning breakthroughs in flexo printing technology and workflows, as well as a total solutions approach to driving profitability for converters around the world. Mark Andy has seen considerable growth in recent years with a focus on innovation and is poised to capitalize on the industry’s burgeoning shift to digital inkjet printing in the form of its recently launched inline hybrid solution, 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," said Desai. "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 global leader in the design of sulfuric acid plants and related high performance products.
Kevin Wilken, CEO at Mark Andy, 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.”
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.