InteliCoat Technologies Acquires the Museo Family of Digital Fine Art Papers from Crane & Co.
Digital Imaging Leader to Expand its Fine Art and Photo Portfolio
SOUTH HADLEY, MA (December 18, 2007) - InteliCoat Technologies, Inc. ("InteliCoat"), a world leader in the manufacture of coated paper, film, and specialty substrates for digital imaging technologies, today announced the acquisition of Museo Digital Printmaking Papers from Crane & Co., the premier U.S. maker of fine papers for social and business correspondence. The acquisition of the Museo family of digital fine art papers solidifies InteliCoat's commitment to building upon its leadership in the digital fine art and photo industry. InteliCoat is an affiliate of Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies. Terms of the acquisition were not disclosed.
Targeted toward professional, semi-professional, and prosumer photographers and artists who produce digital originals or reproductions using ink jet technology, Museo provides world-class image quality manufactured to archival standards (Library of Congress, ISO) with all products being 100% cotton, internally buffered, and containing no optical brighteners.
"InteliCoat has earned a reputation for producing innovative, highly productive digital imaging products, including the market-leading Magic® brand of wide format ink jet media and Magiclée® brand of digital fine art and photo papers," said Joe Lupone, President and CEO, InteliCoat Technologies. "By partnering with Crane, now in its seventh generation of manufacturing the finest cotton paper, InteliCoat can bring together the strengths and expertise that exist within both organizations to continue to deliver a diverse range of media alternatives, which meet the needs of the most discriminating artists."
The acquisition is the latest development in InteliCoat's strategy of focusing on its core competencies with respect to the global product development, manufacturing, and marketing of digital imaging media. The addition of the Museo line highlights InteliCoat's commitment to expanding its investment in new product development and better servicing its customer base in the rapidly growing digital fine art and photo market. The acquisition will benefit Museo customers by combining the best technologies and practices of the two organizations, as well as delivering enhanced manufacturing, converting and distribution efficiencies.
InteliCoat and Crane & Co. are implementing a comprehensive transition strategy to ensure the uninterrupted availability of products and services to the customer bases of each company.
About InteliCoat Technologies, Inc.
InteliCoat Technologies, Inc. ("InteliCoat") is a global leader in the manufacture and marketing of digital imaging media, including the market-leading Magic® brand of wide format aqueous and solvent ink jet media for OEM, dealer and private label customers. Headquartered in South Hadley, Massachusetts, InteliCoat operates two manufacturing facilities in the United States with sales and marketing operations in Australia, the Netherlands, North and South America. For more information about InteliCoat Technologies and its digital imaging product lines, visit www.intelicoat.com or www.magicinkjet.com. For more information about the Museo Digital Printmaking Papers, visit http://www.crane.com/museo.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 175 companies worldwide with combined sales in excess of $35.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com.
About Crane & Co.
For more than two centuries, Crane & Co. has been country's leading maker of fine 100 percent cotton stationery for social and business correspondence. Crane stationery is sold nationwide through a network of more than 2,000 independent retailers, as well as through printers, engravers and paper merchants. The Crane watermark remains the most significant mark of uncompromising quality, symbolizing the pride and personal touch of the stationer. Founded in 1801, the company's roots extend to the birth of the nation. It was at Crane's Liberty Mill that paper was made for Paul Revere to engrave colonial currency in 1776. Crane has made the distinctive paper for United States currency since 1879. The company continues to be owned and managed by members of the sixth and seventh generations of the Crane family. For more information, please visit www.Crane.com.
For further information, please contact:
Joe Lupone
President and CEO
InteliCoat Technologies
28 Gaylord Street
South Hadley, MA 010705-2894
O: (413) 539-5353
F: (413) 539-5766
www.InteliCoat.com
