Mark Andy has been sold by American Industrial Partners to a new investment group formed by P.J. Desai, who is Mark Andy's former CEO, and the current management team.
American Industrial Partners continues as a minority investor in Mark Andy along with Graycliff Partners. Mark Andy, which develops presses and related technologies for the packaging industry, primarily flexography, is based in Chesterfield, Missouri, just outside of St. Louis.
"This was an outstanding opportunity to purchase an established and innovative company with a strong core business of equipment, consumable products and services for the label market, as well as several exciting new products in the pipeline, including our new digital series inkjet press," stated Desai. "Combined, there are over 10,000 Mark Andy and Rotoflex machines currently installed with a replacement value of over $1 billion."
Desai served as Mark Andy's CEO from 2012 to 2014. Prior to that, he was President and CEO of Abencs, an engineering and construction company, and MECS Inc., focused on the design of sulfuric acid plants and related products. Mark Andy is currently led by CEO Kevin Wilken.