In an interview with PrintWeek, Presstek director of marketing communications Brian Wolfenden said that the proposed acquisition by private equity firm American Industrial Partners (AIP) would also boost customer base and confidence.

Wolfenden said: "Everybody here believes it’s a very good thing for the company. It provides us with an opportunity to grow. It’s also a good thing for our customers and prospects as it ensures there will be a company here to support the products that we sell as well as supply them with the services and consumables they need to keep running," he added.

AIP already owns narrow and mid-web flexo press manufacturer Mark Andy, but according to Wolfenden there is little talk of potential synergies between Presstek and Mark Andy. "The intent is to keep Presstek as a separate company."

He suggested Presstek executives have had little indication that AIP plans to dramatically change the way they operate or sell off pieces of Presstek. "If you look at their history and other companies that they’ve acquired, like Mark Andy which is in the print industry, that has not been their method of operation in the past," Wolfenden explained.

AIP’s acquisition will take Presstek private and the proposed move has already been approved by the company's board of directors.

But as in similar situations where public companies are either acquired or privatized, the acquisition announcement has triggered several statements from law firms representing shareholders who suggested that the AIP offer may undervalue Presstek and needs to be investigated.  

One source suggested that those type of statements are standard for this type of deal and pointed out that despite vague threats, no lawsuit has actually been filed yet.

Wolfenden would not comment on any potential legal claims, but did note: "There are good savings in being a private company versus a public company and that goes right to the bottom line."

In the six months to 30 June 2012 Presstek reported a pre-tax loss of $1.9m on revenues of $56.7m, but the company recently touted the sale last month of a new five-color, 29-inch 75DI to Durant, OK-based Texoma Print Services.

Wolfenden added Presstek is still planning on exhibiting at Graph Expo in Chicago in October. He said: "We will be right there in booth 3117, showing our DI digital offset press technology."