Color solutions provider X-Rite acquires Amazys Holding AG
18 Jul '06
3 min read
Organization of the Combined Entity:
A strong team of X-Rite and GretagMacbeth executives lead the combined organization. Michael C. Ferrara is the CEO, Thomas J. Vacchiano, Jr. is the President and COO, Mary E. Chowning is the CFO, and Dr. Francis Lamy is the CTO. The X-Rite Board of Directors is now comprised of nine members, including six current directors of X-Rite and three former directors of Amazys Holding AG.
“I am confident that the new X-Rite Board of Directors and senior management team under the leadership of Michael C. Ferrara, CEO, will ensure that X-Rite excels in every aspect of the business. The combined company is poised to lead the future of the color industry and maximize shareholder value,” said John Utley, X-Rite Chairman.
The global headquarters for the combined entity is in Grandville, Michigan, with European Headquarters in Regensdorf, Switzerland, and Asia Pacific Headquarters in Hong Kong. X-Rite will be represented by the new logo that appears on this page, incorporating the core colors of both companies, and symbolizing how our shared values and goals will drive this new company.
Financing and Listing on the SWX Exchange:
The cash portion of the transaction was financed through a combination of cash on hand and new borrowings. Goldman Sachs provided a total debt package of US$220 million to fund the transaction and post-closing working capital needs. Concurrent with the settlement X-Rite has established a secondary listing on the SWX Swiss Exchange.
marketing@alchempro.com
