Presstek, a supplier of digital offset printing technology, has reported that its acquisition by an affiliate of American Industrial Partners Capital Fund IV (AIP) has been finalized.
AIP is a private equity firm which makes investments in North American-based industrial businesses that serve domestic and global markets. Active in private equity investing since 1989, AIP has completed more than 30 transactions and is currently managing more than USD $1 billion in committed capital.
Stan Freimuth, Presstek’s president and CEO said: ‘I look forward to continuing to focus the company on its key growth strategies of going up market and expanding into new markets with AIP’s backing. I am confident that this transaction will be beneficial to Presstek and its customers.’
Under the terms of the merger, Presstek's shareholders will receive $0.50 in cash for each share of common stock.