EFI Acquires Label And Pack Inkjet Printer Company

EFI has signed an agreement to acquire privately held Jetrion, a subsidiary of Flint Group, for approximately US$40 million in cash.

EFI has signed an agreement to acquire privately held Jetrion, a subsidiary of Flint Group, for approximately US$40 million in cash.

Jetrion is a manufacturer of inkjet printers, inks and custom printing systems for the label and packaging industries.

EFI expects the transaction to close in the fourth quarter of this year, subject to certain closing conditions.

EFI said that the acquisition is expected to add between US$3 million and US$5 million in revenues to EFI's fourth quarter results with an immaterial impact on pro forma earnings.

For the full year 2006, Jetrion is expected to post revenues of approximately US$16 million - US$18 million.

The Jetrion products are currently anticipated to show growth of 30 per cent - 40 per cent in 2007 and again have an immaterial impact to pro forma earnings as EFI makes investments to expand the Jetrion product line and distribution.

Jetrion is based in Ypsilanti, Michigan (USA) and has approximately 50 employees.

A wholly-owned subsidiary of Flint Group, Jetrion specialises in digital printing, providing a range of industrial inkjet systems, custom high-performance integration systems and specialty inks to the converting, packaging and direct mail industries.

EFI said that Jetrion is a pioneer in hybrid digital printing systems for high-growth digital print segments, such as labels and packaging, which require variable printing capabilities.

The company had also announced plans for a full colour UV inkjet label press.

Guy Gecht, EFI's chief executive officer, said: "Jetrion's advanced technology and very talented team are great additions to our inkjet business and are a key element in fulfilling our strategy to expand our presence in the industrial inkjet market.

We are especially impressed with Jetrion's packaging and label printing expertise, and we see this as an emerging market opportunity for digital printing given the increasing demand for short-runs, variable content and fast turn-around." He continued: "In addition, the Jetrion and Vutek development capabilities complement each other quite nicely.

Combining EFI's leadership in precision colour and high speed Raster Image Processing (RIP) technology with the market-leading innovation of the Vutek and Jetrion product lines will give us multiple opportunities to share expertise, benefiting all of our products." Dr Kenneth Stack, the president of Jetrion, responded: "We are excited to join the EFI team and be able to capitalise on its global reputation, vast industry relationships and financial strength to gain greater market reach and provide our valued customers with an even higher quality of service.

Our customers and employees will also benefit from EFI's culture of innovation and technical depth, allowing us to remain competitive and forward-thinking.".

Back to top