The €17m (£13.6m) deal took place last December, giving the Italian private equity company, which is based in Treviso, close to Pixartprinting's Marghera headquarters, a 75% share and placing three senior executives on the Pixartprinting board.
Alcedo's Sonia Lorenzet said that negotiations first started last May and immediately began the due diligence process. "It has been a quick deal considering the usual timing of acquisitions," she said, adding that the business's growth rate and profitabilitiy both now and for the future proved attractive.
Rigamonti has taken on the role of president at the company and is contracted to remain with the company following the deal.
Pixartprinting is continuing to expand quickly, having launched a new labelling service after investing in an Epson SurePress L-4033A digital label press and Sei Laser cutting system targeting food labelling.
Pixartprinting chief executive Alessandro Tenderini said there were many domestic small businesses that could benefit from being able to produce short run labels for food products, and investor Alcedo could be a useful ally, with companies such as Italian wine producers in its portfolio.
"They are often family-run businesses for which creating special packages and labels can be a problem" he said. "Asking us to be partners in the printing process provides a quick, practical solution, competitive prices and deliveries in 24 hours. What used to be long negotiations with typographers can now be done in a few simple steps on the web."
Rigamonti added that the company had managed to keep costs down through tough negotiations on ink costs to the point at which the price per square metre is comparative to printing on a Durst or EFI machine.
But even as the labelling service comes online, Pixart is already ramping up for its next sector to attack.
"We bought four new Dursts," said Rigamonti. "We bought the P10 machines – with 10 pico litre heads – it's a new technology. The quality is much better than they had before because they had 28 picolitre heads. So we bought three roll-to-roll and one flatbed.
"The first roll-to-roll P10 is already installed and we are waiting on another two, and the flatbed P10 will be installed by the end of this month."
The machines will replace two Rho 320 R presses already at the facility.
The business is also doubling its premises, adding a further 12000sqm facility that will be available by the end of the year.
However, Rigamonti said that while turnover at the company continues to improve – up 41% year-on-year to more than €32m, with good growth in Switzerland, Spain, Belgium and its main market, France – the UK remains difficult to crack.
So much so that Rigamonti is ending the joint venture with the UK's Precision Printing to run the pixartprinting.co.uk operation.
"I love the UK, but the UK doesn't love me," he said. "We are not satisfied with the turnover in the UK, it's around €1.5m. That's not the level we want."
He said that the partnership was ending amicably and that Precision would continue to print some material for Pixart, but that control of the site would return to Pixartprinting as of this month.
Precision managing director Gary Peeling said: "We achieved a 200% growth on the level prior to our involvement,. We'll still be handling the UK production for fast-turnaround work, but the UK customer service element they want to take back in-house."
Rigamonti added that he has no plans to start any new businesses after Pixartprinting, and that he is currently enjoying his new role. However, he said any new venture is unlikely to be in print.
"It would be like going back to your old girlfriend," he said. "It's better to change and have a new one."
Pixartprinting however expects to continue to grow sales, reach and services to become a €100m turover company in the next five years, with an IPO planned in three or four years' time.
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Online trade printer Pixart is continuing to expand its range of services, following owner Matteo Rigamonti selling a majority stake in the Italian company to private equity firm Alcedo.
The £17m deal took place last December, giving the private equity company, which is based in Treviso, close to Pixart's Marghera headquarters, a 75% share.
Rigamonti has taken on the role of president at the company and is contracted to remain with the company for a period of time following the deal.
However, while Rigamonti is now less involved, Pixart is continuing to expand at a pace.
It has launched a new labelling system after investing in an Epson SurePress L-4033A digital label press and Sei Laser cutting system targeting food labelling.
Alessandro Tenderini, Pixart's new chief executive said there were many domestic small businesses that could benefit from being able to produce short run labels for food products, and investor Alcedo could be a useful ally, with companies such as Italian wine producers in its portfolio.
"They are often family-run businesses for which creating special packages and labels can be a problem" he said. "Asking us to be partners in the printing process provides a quick, practical solution, competitive prices and deliveries in 24 hours. What used to be long negotiations with typographers can now be done in a few simple steps on the web."
Rigamonti added that the company had managed to keep costs down through tough negotiations on ink costs to the point at which the price per square metre is comparative to printing on a Durst or EFI machine.
But even as the labelling service comes online, Pixart is already ramping up for its next sector to attack.
"We bought four new Dursts," said Rigamonti. "We bought the P10 machines – with 10 pico litre heads – it's a new technology. The quality is much better than they had before because they had 28 picolitre heads. So we bought three roll-to-roll and one flatbed.
"The first roll-to-roll P10 is already installed and we are waiting on another two, and the flatbed P10 will be installed by the end of this month."
The business is also doubling its premises, adding a further 12000sqm facility that will be available by the end of the year.
However, Rigamonti said that while turnover at the company continues to improve, up 41% year on year, with good growth in Switzerland, Spain and Belgium, and its main market France, the UK remains difficult to crack.
So much so that Rigamonti is ending the joint venture with the UK's Precision Printing to run the pixartprinting.co.uk operation.
Online trade printer Pixart is continuing to expand its range of services, following owner Matteo Rigamonti selling a majority stake in the Italian company to private equity firm Alcedo.
The £17m deal took place last December, giving the private equity company, which is based in Treviso, close to Pixart's Marghera headquarters, a 75% share.
Rigamonti has taken on the role of president at the company and is contracted to remain with the company for a period of time following the deal.
However, while Rigamonti is now less involved, Pixart is continuing to expand at a pace.
It has launched a new labelling system after investing in an Epson SurePress L-4033A digital label press and Sei Laser cutting system targeting food labelling.
Alessandro Tenderini, Pixart's new chief executive said there were many domestic small businesses that could benefit from being able to produce short run labels for food products, and investor Alcedo could be a useful ally, with companies such as Italian wine producers in its portfolio.
"They are often family-run businesses for which creating special packages and labels can be a problem" he said. "Asking us to be partners in the printing process provides a quick, practical solution, competitive prices and deliveries in 24 hours. What used to be long negotiations with typographers can now be done in a few simple steps on the web."
Rigamonti added that the company had managed to keep costs down through tough negotiations on ink costs to the point at which the price per square metre is comparative to printing on a Durst or EFI machine.
But even as the labelling service comes online, Pixart is already ramping up for its next sector to attack.
"We bought four new Dursts," said Rigamonti. "We bought the P10 machines – with 10 pico litre heads – it's a new technology. The quality is much better than they had before because they had 28 picolitre heads. So we bought three roll-to-roll and one flatbed.
"The first roll-to-roll P10 is already installed and we are waiting on another two, and the flatbed P10 will be installed by the end of this month."
The business is also doubling its premises, adding a further 12000sqm facility that will be available by the end of the year.
However, Rigamonti said that while turnover at the company continues to improve, up 41% year on year, with good growth in Switzerland, Spain and Belgium, and its main market France, the UK remains difficult to crack.
So much so that Rigamonti is ending the joint venture with the UK's Precision Printing to run the pixartprinting.co.uk operation.
"I love the UK, but the UK doesn't love me," he said. "We are not satisfied with the turnover in the UK, it's around £1.5m. That's not the level we want."
He said that the partnership was ending amicably and that Precision would continue to print some material for Pixart, but that control of the site would return to Pixart as of this month.
"I love the UK, but the UK doesn't love me," he said. "We are not satisfied with the turnover in the UK, it's around £1.5m. That's not the level we want."
He said that the partnership was ending amicably and that Precision would continue to print some material for Pixart, but that control of the site would return to Pixart as of this month.
