ACON Exits Industrial Segment of International Imaging Materials (IIMAK)

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Oct 04, 2021, 20:39 ET

WASHINGTON, Oct. 4, 2021 /PRNewswire/ -- ACON Investments, L.L.C. and its affiliates ("ACON") announced today that it has completed the sale of its equity interests in the industrial segment of International Imaging Materials, Inc. ("IIMAK") to ARMOR USA, Inc. ("ARMOR"). Following the transaction, ACON will retain its ownership in the medical contract manufacturing segment of IIMAK, known as iiMED Medical Solutions, L.L.C. Financial terms of the transaction were not disclosed.

IIMAK is a global developer and manufacturer of printing, imaging and marking solutions for consumable products. Headquartered in Amherst, New York, with additional operations in Belgium, Brazil and Mexico, IIMAK is a leading developer and manufacturer of thermal transfer ribbons, direct thermal films and fluid inks used to print on-demand variable information such as bar codes, text and graphics in automatic identification, packaging and graphics markets.

"This sale reflects ACON's targeted strategy of partnering with middle-market companies and growing them into leading players within their markets," said Anjali Jolly, a Partner of ACON. "This investment is a good example of how focusing on organic growth and executing a strategic plan can lead to positive returns" added John Roush, advisor to ACON and Chairman of IIMAK's Board.

Doug Wagner, CEO of IIMAK, said, "Our partnership with ACON has produced strong results. Their investment, guidance and support over the last three years has been invaluable. ACON's growth-oriented mindset and focus on teamwork and collaboration with management has been critical to IIMAK's success. We are now looking forward to continuing the journey with ARMOR."

About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. Founded in 1996, ACON has responsibility for managing approximately $6.1 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, Madrid, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.