EFI acquires Reggiani and Matan; enters textile market
In a major announcement in the inkjet wide-format market, Freemont-based Electronics for Imaging (EFI) have acquired Reggiani Macchine and Matan Digital Printers—spending £130m in cash, shares, and debt absorption once the deals are completed.
08 Jul 2015 | 9426 Views | By Samir Lukka
Founded in 1948, Reggiani makes a variety of digital and traditional printers but 75 percent of its revenues in 2014 came from its digital technologies. It is the leading manufacturer of industrial inkjet printers using water-based inks printing on fabric. The company has customers in 120 companies and distribution agents in more than 40 countries. Its 190 employees are now a part of EFI Reggiani.
"This acquisition gives EFI an immediate leadership position in one of the world's largest industries undergoing the transformation from analog printing to digital. The textile printing market is just beginning that transition, which will enable manufacturers to shift from long-run to on-demand manufacturing, responding to the increasing demands of short runs and customisations," said Guy Gecht, CEO of EFI.
The growth in wide format inkjet printing on textiles was by far the biggest talking point at Fespa 2015 in Cologne Germany in May. Fespa-commissioned worldwide industry research by analyst InfoTrends revealed the textiles market – for clothes and interior decor – has doubled in size since 2010 and was the strongest growth sector.
"Reggiani's customers recognise that inkjet is the most important technology of the future for the textile industry," said former Reggiani shareholder Ambrogio Caccia Dominioni, who will be the managing director of EFI Reggiani.
Based in Rosh Ha’Ayin, Israel, Matan, the other acquisition by EFI, has developed digital printers and presses for a range of industrial applications for more than a decade. Its work force of about 70 employees has joined EFI, giving EFI a significant presence in Israel.
"This acquisition gives EFI an even broader range of products to help our customers capture important opportunities in superwide-format display graphics printing,” said Gecht on the Matan deal.