XSYS, a global integrated solutions provider to the flexographic, letterpress and pre-press printing markets, has entered into a definitive agreement under which it will acquire certain shares and assets held by subsidiaries of Element Solutions Inc, comprising the MacDermid Graphics Solutions business, for an enterprise value of approximately US$325 million.

The transaction has been approved by the board of directors of both companies and is subject to regulatory approvals and customary closing conditions.

In March last year, XSYS appointed Ferag Australia to distribute its flexographic printing plates and platemaking equipment portfolio in Australia and New Zealand.

Ferag Australia general manager of trade Ian Martin said the acquisition of the subsidiaries of Element Solutions by XSYS brings positive news for customers.

“The future structure and go-to-market strategy will still need to be defined, but ultimately, the customers will benefit greatly from the blend of technologies,” he said.

XSYS has also announced a change in leadership at XSYS – departing Group CEO Oliver Dohn is replaced by Dr. Alexander Unterschütz, who will spearhead XSYS’ next growth chapter.

The company said Dohn played a key role during his tenure in driving profitable growth and setting a new strategic growth and innovation agenda for XSYS.

“Dohn has now decided to pursue other endeavours. The board sincerely thanks [him] for his leadership and all he has contributed to the company and wishes him all the best,” XSYS said, in a statement.

It added that Dr. Unterschütz brings significant leadership experience with him, along with a strong track record of driving transformation programs and implementing successful growth strategies.

Dr. Unterschütz most recently led the components business at Linde Engineering. Prior to his 14 years at Linde, he worked as a management consultant with McKinsey & Company.

“The board welcomes Dr. Unterschütz and is confident that under his leadership XSYS will continue to drive innovation and growth, as well as further the excellent reputation XSYS has with its customers, who are at the center of everything we do,” XSYS said.

“I am delighted to join XSYS as its new CEO and together with the whole XSYS team support its continued success. I am also excited about the combination of XSYS and MacDermid. Both businesses have highly complementary geographic footprints and product portfolios, which will enhance XSYS’ product offering, service levels as well as drive innovations to serve our customers even better,” Dr. Unterschütz said.