Acquisition of Presstek Completed
Presstek Inc. reported that its acquisition by an affiliate of American Industrial Partners Capital Fund IV (AIP) has been finalized. AIP is an operationally oriented, middle-market private-equity firm.
Active in private equity investing since 1989, AIP has completed more than 30 transactions and is currently managing more than $1 billion in committed capital.
Stan Freimuth, Presstek’s president and CEO, said, “I look forward to continuing to focus the company on its key growth strategies of going up market and expanding into new markets with AIP’s backing. I am confident that this transaction will be beneficial to Presstek and its customers.”
Under the terms of the merger, Presstek’s shareholders will receive $0.50 in cash for each share of common stock.
Presstek Inc. is a leading supplier of digital offset printing solutions to the printing, packaging and communications industries. Presstek’s innovative offerings bring unmatched efficiencies, competitive differentiation and the highest level of customer service to printing operations of all sizes. Presstek’s DI digital offset presses bridge the gap between toner and conventional offset printing. They represent the future of digital offset printing enabling printers to cost effectively meet customer demand for high quality, short run color printing with a fast turnaround time and improved profit margins. The company’s CTP portfolio includes chemistry-free, pre-heat, no pre-heat and waterless plate technology. CTP systems range from two-page polyester to fully automated eight-page systems. Presstek also offers prepress and pressroom supplies. Its highly qualified support staff and network of dealers support printers around the globe.