We’re pleased to have advised Xaar plc, the leading inkjet printing technology group, on its acquisition of Megnajet Limited and Technomation Limited (which together trade as Megnajet), in a combined £4.0 million deal.
Headquartered in Cambridge, Xaar is a market leader in the development of inkjet technology. Its technology is used in a broad range of print applications, such as wide-format graphics, labels, ceramic tile decoration and in advanced manufacturing, and it exports more than 85 per cent of its production to clients worldwide.
Kettering-based Megnajet specialises in the design and manufacture of industrial ink delivery systems. Its product range includes once of the most integrated and compact ink management and supply systems on the market, which enables its customers to reduce development timescales and increase the speed at which they can go to market.
This acquisition will accelerate Xaar’s growth strategy by enabling the business to offer existing and new customers a more integrated inkjet solution. Megnajet’s products will form part of the end-to-end solution helping Xaar’s UDI (User Developer Integrator) customers reduce their development timescales and shorten their time to market, while attracting a broader range of commercial opportunities for Xaar.
Chris Adlam, Matt Field and Joanne Price from FRP Corporate Finance provided lead advisory services for Xaar, including buy-side advice, tax structuring and financial due diligence.
Commenting on the deal, Chris said: “Xaar is a fantastic group and it’s been a pleasure to support the team on such an important acquisition. There are many synergies between these businesses, not only do they have deep roots in innovation and technical expertise, they are also committed to providing customers with the highest quality service. This transaction creates a very strong foundation for future growth and I’m looking forward to seeing the group continue to develop on the next stage of its journey.”
John Mills, CEO of Xaar, commented “The acquisition of Megnajet will accelerate our growth strategy by enabling us to offer existing and new customers a more integrated inkjet solution.
“Having worked with Megnajet for several years we know the company has an excellent reputation within the inkjet industry for delivering compact and easy to integrate products.
“This acquisition is a great addition to our business and we are delighted to welcome everyone at Megnajet into the Xaar Group.”
Buying a business
This transaction creates a very strong foundation for future growth and I’m looking forward to seeing the group continue to develop on the next stage of its journey.Chris Adlam Corporate Finance