Pamarco Technologies LLC announces it has issued a Letter of Intent to acquire the business of Absolute Engineering Ltd. of the UK and its American subsidiary, Absolute Print Engineering Inc. in Hiram, Georgia.
Absolute is the premier manufacturer of carbon fibre doctor blade chambers and the InkSave ink wash–up system, both of which are utilized in Flexographic printing equipment for Flexible Packaging, Corrugated and Tissue industries world-wide. Absolute is managed by Antony Whiteside, the Managing Director and David Burke, the Technical Director. They will continue to direct all business operations after the acquisition is completed.
Terry Ford, President and CEO of Pamarco Technologies stated, “Part of our growth strategy is to acquire niche high-end engineering companies in the graphics industry to complement our existing wide range of products. Absolute’s innovative engineering and technology makes it the leader in both the new machinery and the replacement blade market.”
Antony Whiteside, Managing Director of Absolute added, “This acquisition allows Absolute to invest significantly in new production capacity, allowing us to meet the demands of our rapidly expanding customer base. It also allows us to exploit the synergy created by combining the expertise and technology of the fastest growing blade systems company with one of the most technically advanced suppliers to the printing industry. This will ensure that we can continue to develop both our existing products and the new innovative products that our customers need.”
Subject to due diligence, the acquisition is anticipated to be finalized July 31, 2013.