Altus Capital Partners has sold International Imaging Markets Inc to ACON Investments LLC. No financial terms were disclosed. Based in Amherst, New York, IIMAK is a maker of thermal transfer ribbons, direct thermal films and fluid inks used to print on-demand variable information.
WILTON, Conn.–(BUSINESS WIRE)–Altus Capital Partners, an investment firm focused on middle market manufacturing companies headquartered in the U.S., announced today the sale of International Imaging Materials, Inc. (IIMAK) to ACON Investments, LLC. Financial terms of the transaction were not disclosed.
Altus Capital Partners acquired IIMAK in June 2012 alongside the senior management of IIMAK to support the Company’s growth and expansion efforts. Headquartered in Amherst, New York, with additional operations in Belgium, Brazil and Mexico, IIMAK is a leading 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’s President & Chief Executive Officer, said, “We have been fortunate to have partnered with Altus Capital Partners in strengthening IIMAK’s growth platform over the last six years. The Altus team brought more than just financial resources to the relationship; they worked collaboratively with our management team on our growth and diversification strategy, demonstrating a strong commitment to our company’s success. We have had a great run with Altus and wish them continued success.”
Russell Greenberg, Managing Partner of Altus Capital Partners, commented, “We want to thank the management team of IIMAK under the leadership of Doug Wagner and Chairman Richard Marshall for building the business in a substantial manner during our ownership. IIMAK grew both organically and made five add-on acquisitions during our investment. This has been an important investment for Altus and we wish ACON Investments much future success with IIMAK.”
About Altus Capital Partners
Altus Capital Partners is a private equity firm that makes control investments in middle market manufacturing businesses. We believe that our exclusive focus on manufacturing provides us with a unique understanding of the opportunities and challenges faced by companies in the sector. We utilize a patient, thoughtful investment approach and seek to partner with the management teams of our operating companies to achieve growth. For more information, please visit www.altuscapitalpartners.com.
IIMAK is a global developer and manufacturer of value-added consumable solutions for industrial and medical applications. Headquartered in Amherst, New York, IIMAK employs over 1,300 people worldwide with additional manufacturing, distribution and sales operations in Belgium, Brazil and Mexico. IIMAK provides industrial consumable solutions which enable identification, tracking and promotion of products. Variable information such as bar codes, text and graphics can be printed using IIMAK technologies such as Thermal Transfer Ribbons, Direct Thermal Films and Fluid Inks. Medical applications are provided through iiMED Medical Manufacturing Solutions, a division of IIMAK. iiMED serves companies seeking outsource manufacturing services for Class I and II medical device consumables such as orthopedic bracing, sterile supplies, compression devices, and patient mobility products. For more information visit www.iimak.com.