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MetalFX looks for global growth as Ciba moves in
Ian Briggs METALFX, the company which helps printers to produce millions of metallic colours on a conventional press, has been acquired by Ciba Speciality Chemicals.
Andrew Ainge, founder of the Guiseley-based firm, has sold 80 per cent of his stake in the business to Swiss giant Ciba for an undisclosed sum.
Mr Ainge, who will continue to run the company as managing director following the deal, which sees him retain 20 per cent, said the tie-up would allow his company to expand further worldwide.
Although MetalFX only employs seven staff, it exports to 87 countries via licensing agreements with printers and distributors.
The company adds a special silver ink to the conventional five-colour printing process, which means it can produce 208 million metallic colours which can be applied to paper, board, plastic and metal.
"It was always my intention to work with somebody in a joint venture or through acquisition and add more products to our portfolio and grow the business further," said Mr Ainge, who formed the company in 2002.
"I've got a good deal myself out of it and we've got a fantastic company supporting us."
Last year Mr Ainge predicted he expected turnover to rise from 1m to 20m by 2010 and yesterday he said the deal with Ciba could only help improve MetalFX's performance.
Chemicals giant Ciba, which has operations in Bradford and Grimsby as well as 120 countries worldwide, believes the deal will boost its Colour Service arm's colour reproduction systems.
Sonia Megert Marshall, global head of Ciba Colour Services, said: "The MetalFX concept greatly increases the creative scope of print and has proven to be a highly profitable asset to its users.
"All involved in the colour process – from designer to ink manufacturer to printer – will now be able to benefit from opportunities through synergies between the MetalFX concept and Ciba Speciality Chemicals' colour management solutions, technical expertise and global reach."
Metal FX was advised by the Leeds offices of HLW Commercial Lawyers and accountants Mazars, and HSBC bank.
David Armitage, a corporate partner at Hammonds in Leeds, and colleague Rebecca Lewis-Davies led the deal for Ciba.
Ian Wrightson, partner at Mazars, said: "Along with Andrew's business flair, Ciba has been quick to recognise the exciting opportunities that MetalFX has to offer to its own overall product mix."
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