The investment will also support development of new Inkcups printing systems and supplies and strengthen the company’s global sales and customer support network.
Inkcups founder and CEO Ben Adner will remain in his position alongside the rest of the Inkcups team. They will work in partnership with MPE to grow the US company globally and further establish Inkcups in its core digital, pad, and tagless printing markets.
Adner said: “It is an ideal time for Inkcups to have outside, professional investment, both from a financial aspect but also from a strategic standpoint. We are leaders in our markets for all three lines of business – digital, pad printing, and tagless – and have cutting edge, innovative product lines and an aggressive five-year growth plan.
“MPE Partners has a solid track record of helping companies just like Inkcups get to the next level. We believe that with their resources and guidance, coupled with our strong team and game plan, Inkcups will be able to achieve its goals and provide significant value to our customers.”
Inkcups manufactures high-quality industrial machines for a wide range of industries, including apparel, drinkware, promotional, electronic, medical, sporting goods, and automotive markets.
Headquartered in Danvers, Massachusetts, the business has direct sales, technical support, and warehouse locations in the US, Canada, Mexico, Germany, and Hong Kong, among other global locations.
MPE Partners, which is based in Boston, Massachusetts and Cleveland, Ohio, invests in profitable, lower mid-market companies with transaction values up to $250m (£183m). Its two primary target investment areas are high-value manufacturing and commercial and industrial services.
MPE partner Matt Yohe said: “Since its inception in 2001, Inkcups has developed a reputation for superior product innovation, deep technical knowledge, and comprehensive aftermarket service.”
MPE vice president Michael Duffy added: “We are looking forward to partnering with Ben and the rest of the Inkcups team to accelerate the company’s growth by making continued investments in product development, customer support, and geographic expansion.”
Capstone Partners acted as the investment banking advisor to Inkcups, and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo served as legal advisor. Akerman served as legal advisor to MPE.
