07.12.21
Xaar has completed the acquisition of print systems and printbar specialist FFEI Limited. The deal will accelerate the company’s existing growth strategy and will enable Xaar to capture additional opportunities in vertically integrated solutions.
FFEI is a leading integrator and manufacturer of industrial digital inkjet systems and digital life science technology with many years of experience in managing technical integration and engineering projects. Its imaging solutions and printbar manufacturing have enabled the business to establish several joint ventures with organizations in both digital inkjet and life sciences.
The addition of FFEI strengthens Xaar’s capabilities and skills and will help to provide a more comprehensive solution for its growing number of OEM and UDI (User Developer Integrator) customers.
Based in Hemel Hempstead, UK, CEO Andy Cook and CFO Julian Payne will remain in their current roles and report to Xaar CEO John Mills. Bob Wilson, FFEI’s CTO, will join Xaar in a senior position within the printhead business, where he will focus on delivering technologies for the company’s UDI customers.
“Having restructured and stabilized our core printhead business, the acquisition of FFEI will accelerate our strategy and expand our customer offering in a range of markets,” Mills said.
“I’ve personally known the FFEI team for many years and have long admired their capabilities having previously worked closely with them.”
FFEI employs more than 60 people and in the year to March 31, 2021, generated revenue of £9.9 million. The initial cash consideration of £3.7 million was paid on completion, which reflects existing FFEI free cash reserves, with an additional £5.4 million deferred consideration to be paid out over three years.
FFEI is a leading integrator and manufacturer of industrial digital inkjet systems and digital life science technology with many years of experience in managing technical integration and engineering projects. Its imaging solutions and printbar manufacturing have enabled the business to establish several joint ventures with organizations in both digital inkjet and life sciences.
The addition of FFEI strengthens Xaar’s capabilities and skills and will help to provide a more comprehensive solution for its growing number of OEM and UDI (User Developer Integrator) customers.
Based in Hemel Hempstead, UK, CEO Andy Cook and CFO Julian Payne will remain in their current roles and report to Xaar CEO John Mills. Bob Wilson, FFEI’s CTO, will join Xaar in a senior position within the printhead business, where he will focus on delivering technologies for the company’s UDI customers.
“Having restructured and stabilized our core printhead business, the acquisition of FFEI will accelerate our strategy and expand our customer offering in a range of markets,” Mills said.
“I’ve personally known the FFEI team for many years and have long admired their capabilities having previously worked closely with them.”
FFEI employs more than 60 people and in the year to March 31, 2021, generated revenue of £9.9 million. The initial cash consideration of £3.7 million was paid on completion, which reflects existing FFEI free cash reserves, with an additional £5.4 million deferred consideration to be paid out over three years.
