XSYS, a global integrated solutions provider to the flexographic, letterpress and pre-press printing markets, announces that it has entered into a definitive agreement with Element Solutions Inc (NYSE: ESI) under which XSYS will acquire certain shares and assets held by subsidiaries of Element Solutions Inc, comprising the MacDermid Graphics Solutions business (“MacDermid”) for an enterprise value of approximately $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.
XSYS also announces a change in leadership at XSYS. Departing Group CEO Oliver Dohn has played a key role during his tenure in driving profitable growth and setting a new strategic growth and innovation agenda for XSYS. Mr. Dohn has now decided to pursue other endeavours. The Board sincerely thanks Mr. Dohn for his leadership and all he has contributed to the company and wishes him all the best.
The Board has appointed Dr. Alexander Unterschütz as the new Group CEO in order to spearhead XSYS’s next growth chapter. Dr. Unterschütz brings significant leadership experience with him 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 the company is taking forward.
“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” said Dr. Unterschütz.
