Cheshire Anilox Technology has been acquired by Swiss company Daetwyler Group.
The Dukinfield-based business manufactures high quality laser-engraved ceramic anilox rolls that are used for transferring a controlled amount of ink (or adhesive/lacquer) in flexo printing.
Established in 1992, the company serves customers in over 100 countries worldwide and employs 30 staff, all of whom will be kept on.
The deal, which took place in November, has seen the business acquired by family-run Swiss manufacturer Daetwyler which, through its SwissTec division, offers coated and uncoated precision doctor blades used for print applications.
The wider group, which also manufactures inks and lacquers for product packaging and anti-counterfeiting protection as well as high-precision machines for sectors such as aviation and construction, has more than 10 sites worldwide and employs over 300 staff.
As well as expanding Daetwyler’s product offering and technical capabilities, the acquisition will also provide a strong foundation for further growth in the US market, where Cheshire Anilox already has a large customer base while Daetwyler has a major office in Huntersville, North Carolina.
Cheshire Anilox’s founder and managing director Paul Smith will stay on with the business in a consultancy role, providing specialist support for the US expansion.
Smith commented: “The Daetwyler Group is the right buyer for me and one that will provide a strong future for my life’s work. I am also pleased to be able to continue to support the development of the site in the USA in an advisory capacity.”
Ralph Daetwyler, group CEO of Daetwyler, added: “Our in-depth understanding of processes has been the basis of our success for decades.
“Through the acquisition, we are expanding our technological expertise and thus creating tangible advantages for our customers. This acquisition is an important step in reliably meeting future requirements and actively driving the development of the industry.”
Cheshire Anilox was advised on the deal by corporate finance advisory firm Shaw & Co.
Rob Starr, partner – M&A at the firm, said: “Paul wanted to secure Cheshire’s future and it certainly proved to be an exciting proposition for investors. We ran a dual-track process with a strong emphasis on finding an international acquiror, focusing on those companies which had links to the US where Cheshire Anilox already had a number of key customer relationships.
“Paul has received a great price for his life’s work and his consultancy role will enable him to benefit financially from the new, stronger, US operations. Perhaps most importantly, however, the deal has also preserved his legacy and the jobs of his loyal team.”
