Germany-headquartered Xsys made the dual announcement today (4 September).
CEO Oliver Dohn is leaving the firm after 11 months in the role. Xsys thanked him for playing a key role in driving profitable growth “and setting a new strategic growth and innovation agenda” at the business.
Xsys said he was leaving to pursue other interests.
He has been replaced by Dr Alexander Unterschütz who took up the position at the beginning of this month.
Unterschütz joins after 14 years working in senior roles at German industrial gases and engineering group Linde, most recently as head of Linde Engineering’s Components wing.
The $325m (£248m) deal to acquire MacDermid Graphics Solutions has been agreed by the boards of both businesses.
It is subject to regulatory approval and the usual closing conditions and is expected to complete later this year or in the first half of 2025.
MacDermid is currently owned by Element Solutions Inc, which said it was a quality business but non-core to the overall group’s long-term strategy.
Element Solutions president and CEO Benjamin Gliklich described Xsys as “a great home for its excellent team”.
The MacDermid Enthone industrial coatings business and MacDermid Offshore Solutions energy fluids are not part of the deal.
MacDermid Graphics Solutions makes flexo plates and platemaking equipment and claims a leading position in liquid photopolymer platemaking.
The firm’s European base is located in Wigan.
Xsys makes flexo and letterpress plates and associated imaging equipment with brands including Nyloflex and Nyloprint.
It was formerly the pre-press wing of Flint Group and was sold to private equity firm Lone Star Funds three years ago. At the time it had sales of around €300m (£253m).
Commenting on his new role and the MacDermid deal, Unterschütz said: “I am delighted to join XSYS as its new CEO and together with the whole Xsys team support its continued success.
“I am also excited about the combination of Xsys and MacDermid. Both businesses have highly complementary geographic footprints and product portfolios, which will enhance Xsys’ product offering, service levels as well as drive innovations to serve our customers even better.”
Graeme Dickinson, senior vice president of MacDermid Graphics Solutions, said he was also excited about the future potential for the enlarged group.
“Xsys has a great track record in the industry and the combined businesses will be poised for growth with a broader product offering, balanced global reach, and a deep partner network,” he said.
“This decision aligns with MacDermid Graphics Solutions' long-term strategic goal to maximize value for customers and is intended to strengthen the successful track record of the business.”
MacDermid's turnover was not disclosed.
