Aldus acquires business of API Foils Europe

API Group initiated bankruptcy proceedings in the UK and US in February.

Among Aldus group companies is Milford Astor Foilmakers, which manufactures foil in Australia and distributes it worldwide.

The new company will be led by Will Oldham, who was managing director between 2012 and 2015, and key members of the existing senior management team. 

Will Oldham commented: ‘I am delighted to be back leading the API’s European Foil business which has been at the forefront of quality graphic stamping foils for many years. Joining the Aldus Group will give our team the financial strength and support to ensure the we can continue to deliver the highest quality product to our customers across Europe and the world. 

‘We are particularly pleased to be restarting the Scottish manufacturing facility and ensuring the continuing operation of our distribution hubs across Europe, delivering 160 jobs, including more than 100 in Scotland.’

Frank Floriano, Aldus CEO, added: ‘API has long been viewed as a market leader in high quality foils and we were very pleased to acquire the business. We are committed to provide additional capital and support to ensure that API will continue to supply its existing customers and invest in the development of market leading products.’

Commercial director Mark Gilbert said: ‘We are delighted to be back in business and I would like to thank our customers for supporting all of our teams across our sites over the last few weeks and also those that helped us during the acquisition process. This support has just confirmed to us that this is a special business. We are looking to get back to normal production in Livingston as soon as possible, but it will take some time until we can offer a full range of products from manufacture. We will communicate every step with our customers in all markets and work with them to mitigate any further disruption than is necessary.’