ACON Investments, L.L.C. (ACON) and its affiliates have announced the acquisition of International Imaging Materials, Inc. (IIMAK), a 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 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.
