NAGANO, Japan— Mimaki, a manufacturer of wide-format inkjet printers and cutters, announces that it has purchased all of the shares of Italian digital textile printer manufacturer La Meccanica Costruzione Tessili.
In announcing its purchase, Mimaki states that it became aware of La Meccanica in July of last year and negotiations toward a buyout began then. The purchase became official in mid-December.
La Meccanica was founded in Bergamo, Italy, in 1977 and until recently was 100 percent owned by the family of its president, Paolino Gastoldi. The company has 32 employees.
The purchase was for an undisclosed amount. However, Mimaki did note that La Meccanica had sales of approximately $6.5 million in 2014 and had about $557,000 in capital on hand at the time of the sale.
“We are aiming to acquire the manufacturing know-how of digital print devices and brand power to give a boost to our existing products and improve our competitiveness in the textile inkjet printer industry in Europe and the world,” Mimaki said in its statement.
With the purchase, Mimaki follows the lead of fellow wide-format printer manufacturer EFI, which last year purchased Reggiani, also an Italian digital inkjet textile printer manufacturer.
Mimaki’s U.S. headquarters are in Suwanee, Georgia.
For more information on this stock purchase, visit Mimaki Global.