InteliCoat Technologies, South Hadley, MA, announced it has sold its Electronic and Engineered Films (EEF) business unit to Exopack Holding, Inc., a North American flexible-packaging converter and provider of paper and plastic packaging solutions for the food, industrial, and medical industries. InteliCoat and Exopack are affiliates of Sun Capital Partners, a private investment firm.
“The sale of our Electronic and Engineered Films business unit will allow InteliCoat to focus on its core competencies with respect to the global product development, manufacturing, and marketing of digital imaging media, including the market-leading Magic brand of wide-format aqueous and solvent inkjet media and will position InteliCoat to better service its worldwide digital imaging customer base, expand our investment in new product development, and pursue new opportunities globally in this growing market,” says Joe Lupone, president and CEO of InteliCoat.
The new acquisition will be renamed Exopack Advanced Coatings and will maintain its operations in Matthews, NC and North Wales in the UK. Alan Parker, former managing director of European operations for InteliCoat, was named vice president and general manager of Exopack Advanced Coatings.