Greenwich, CT – Presstek, Inc., a leading supplier of digital offset printing solutions to the printing and communications industries, today reported that its acquisition by an affiliate of American Industrial Partners Capital Fund IV, L.P. (AIP) has been finalized. AIP is an operationally-oriented middle market private equity firm which makes control investments in North American based industrial businesses that serve domestic and global markets. Active in private equity investing since 1989, AIP has completed more than 30 transactions and is currently managing more than $1 billion in committed capital.
Stan Freimuth, Presstek's President & CEO said, "I look forward to continuing to focus the company on its key growth strategies of going up market and expanding into new markets with AIP's backing. I am confident that this transaction will be beneficial to Presstek and its customers."
Under the terms of the merger, Presstek's shareholders will receive $0.50 in cash for each share of Common Stock.
GCA Savvian Advisors, LLC has served as financial advisor and McDermott, Will & Emery, LLP has served as legal counsel to Presstek in connection with this transaction. Ropes & Gray, LLP has served as legal counsel to AIP in connection with this transaction.