Posts tagged: Danaher

Dover Corporation rounding up portfolio of digital printing technologies

Ron Gilboa
 Apr 12, 2017

Last week Dover [NYSE:DOV] bought Caldera for 35 million euros. This acquisition is the third such recent move for Dover and expands their digital print capabilities to include color management, web-to-print, production workflow and automation.

Dover corp

Dover Corporation was a $6.8 Billion company in 2016, with global holdings served by almost 29,000 employees. The company’s holdings are in four key areas: energy, engineering systems, fluids, and refrigeration & food equipment. Over the past few years Dover has set its sights on the digital printing market and its related growth opportunities. This strategy has resulted in several acquisitions of which Caldera is the latest one. Preceding this acquisition Dover acquired MS Printing, a manufacturer of textile printing solutions in February of 2014) and followed this with the acquisition of JK Group, a manufacturer of inks for the textile industry, in October of 2015. These acquisitions of inkjet printing and inks companies were key to developing a value chain in digital printing, but one aspect was missing;  workflow. The Caldera acquisition helps round out the solution set.

Calder aLogo

Caldera, under the leadership of CEO Joseph Mergui, has been developing digital front-end solutions for wide format printing for over 25 years. Caldera provides a high-end color management, production management tools, web-to-print, automation and connectivity to most wide format type printers in this industry segment.

Over the past few years the Caldera team has focused on the demands of the sign & display industry and has begun to embed tools for advanced workflow solutions beyond simple RIPping and color management. The company has added job management, accounting, and production dashboards that allow print service providers to evaluate their production environment from job timing to ink consumption. Caldera also has begun to add solutions for emerging opportunities in industrial print segments and now offers solutions for textile printers and mixed environments for digital displays are in use side by side with printed output.

This acquisition will benefit both companies. Dover now has a workflow solution that integrates well with its existing assets, and through Caldera’s industry network they gain access to other markets. Caldera now benefits from the strength and market development capabilities of a large organization that sees digital printing in the graphics, industrial, and decorative markets as strategically important for future growth.

This acquisition is reminiscent of several others in this space, most recently that of AVT by Danaher, as well as that of Reggiani and Optitex by EFI.  A generation of innovative, smaller companies, are uniting with larger organizations for growth in digital printing and related areas. We expect these mergers and acquisitions to continue as industrial markets turn to digital printing as a mean to address end user demand for mass customized products.

Danaher Will Buy X-Rite

Bob Leahey
 Apr 25, 2012

Danaher Corporation, an industrial and healthcare manufacturing conglomerate, made news again this month for another purchase that is important to the color digital printing world. This came when Danaher announced that it will buy X-Rite Inc., which makes color measurement systems. X-Rite also is the parent of Pantone, the formulator of color standards for print service providers, including converters of labels and packaging for consumer products. Danaher’s offer values X-Rite at $5.55 a share, or about $479 million. This is a 39% premium over X-Rite’s closing share price of $4.00 on April 9, 2012, which was the last trading day prior to the announcement. Stockholders representing approximately 68% of the voting power of X-Rite’s outstanding shares reportedly intend to tender their shares into the offer. The deal is subject to regulatory approval and closing conditions, but is expected to close by July 1, 2012. Observers of the CDLP market will remember that Danaher made a similarly important purchase in 2011, with the acquisition of Esko.
For its 2012 investment, Danaher will net a company that is highly influential in the packaging and label industries. X-Rite’s spectrophotometers, colorimeters, densitometers, and related products are widely used by converters and other print service providers to test color reproduction, a vital topic in the representation of consumer brands. At the same time, X-Rite’s Pantone business is one of world’s top sources of color standards. The Pantone Matching System (PMS) colors are commonly the choice of brand owners worldwide. PMS colors may be less influential in other regions than they are in North America, but many global brands often have a high reliance on them. One sign of their importance is that, among color digital label and packaging (CDLP) press manufacturers, it is common for an individual vendor to describe a new press’s color printing capability by estimating the percentage of PMS colors that the press can reproduce.
Danaher’s 2011 purchase of Esko, which was then called Esko Artwork, was a somewhat smaller investment, $470 million. Danaher closed that deal at the middle of 2011, and thus added to its portfolio one of the top suppliers of design and workflow software for the packaging and label converting industry. Esko became part of Danaher’s “Product Identification” group, whose anchor member is Videojet Technologies (Wood Dale, IL), the leading vendor globally for monochrome inkjet coding systems. While there is no obvious synergy between Esko and Videojet, Esko has continued to thrive as an independent company within the group. Assuming the newest Danaher purchase goes through, the conglomerate’s Product Identification group will soon have Esko, X-Rite, and Pantone within it, and there will be synergy between their various products and services.
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