News 21 August 2014
Mark Andy Inc announces company sale
Mark Andy Inc., a package printing equipment, support, supplies and consumables company, announced that an investment group formed by P.J. Desai, Mark Andy\'s former chief executive officer, and the current management team has completed the purchase of Mark Andy, Inc. 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.
The company has seen growth in recent years and aims to capitalize on the industry’s 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," Desai said. "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 was Mark Andy’s chief executive officer from 2012 to 2014 and before that the president and CEO of Abencs, an engineering and construction company and MECS Inc., a company that designed sulfuric acid plants and related high performance products.
Mark Andy will be showcasing its digital series this year at Labelexpo Americas, Sept. 9-11.