Update: Landa Digital Printing Acquired for $80M

Last week, it was reported for the first time that Landa Digital Printing had experienced cumulative loss of approximately $1.8B. Gillon Beck — a partner representing FIMI, the private equity firm that was seeking to acquire Landa — revealed the company’s losses for the first time, noting that FIMI had developed a recovery plan for the company. As of last week, the acquisition was pending court approval, with a hearing set for last Thursday.

On Saturday (Sept. 6) evening, the Central District Court approved the $80M FIMI acquisition, according to CTech. FIMI will own 100% of Landa and notes that it will continue to employ “most of its workforce.”

CTech further reported that Judge Hana Kitsis noted the arrangement “ensures the company’s continued operations and safeguards the employment of most of its employees.” It wrote:

She emphasized that liquidation would likely yield only minimal proceeds, given that the company’s customers are primarily overseas and its only assets in Israel are machinery. ‘Approval of the debt arrangement will allow many employees to retain their jobs and source of income while preserving their full rights. On the surface, it appears that any gains from a liquidation alternative would be minimal,’ the judge said

Update: Landa Digital Printing Acquired for $80M

Related Posts

Key Printing Industry Trends Reflected in 2021 Printing Impressions 300 Ranking of Largest Companies (piworld.com)

It’s not a major surprise, really, that our 38th annual ranking of the largest printing industry companies in the U.S. and Canada, as ranked by annual sales, is now the 2021 Printing Impressions 300 — and not the Printing Impressions 350 that appeared in 2020. After all, the majority of the graphic arts businesses on our venerable list reported their calendar 2020 annual sales as their most recent fiscal year, with calendar 2019 representing their previous year sales. Given the onslaught, and subsequent shutdowns, of many segments of the U.S. economy beginning in March 2020 due to COVID-19, it’s understandable that CEOs of commercial printing companies were not racing to report their annual sales numbers. And, although the printing industry was ultimately deemed “essential,” many of the vertical markets that these primarily privately-held printing businesses serve were not. Combine that with all the business uncertainty among marketers, brand owners, retailers, and other print buyers, it’s no surprise that many companies appearing on our 2021 list in this issue reported double-digit annual revenue drops.

Two Sides and National Association of Printing Ink Manufacturers Announce Strategic Partnership

The National Association of Printing Ink Manufacturers (NAPIM) Board of Directors has announced its increased support of Two Sides North America, the non-profit organization that promotes and encourages the responsible production, use and sustainability of print and paper. NAPIM Executive Director, John Copeland and Director Regulatory Affairs and Technology, George Fuchs will be joining Two Sides’ Anti-Greenwash Task Force to ensure that the views of NAPIM members are considered in Two Sides campaign activities. Membership discussions are also underway with specific companies in the ink manufacturing sector to ensure representation within the Two Sides network of companies and governance. Click Read More below for additional information.

EFI Reports Record First Quarter Revenue For Q1 2018

For the quarter ended March 31, 2018, the Company reported record first quarter revenue of $239.9 million, up 5% compared to first quarter 2017 revenue of $228.7 million. GAAP net loss was $3.6 million compared to GAAP net income of $4.8 million for the same period in 2017 or $(0.08) per diluted share compared to $0.10 per diluted share for the same period in 2017. Non-GAAP net income was $17.2 million, down 33% compared to non-GAAP net income of $25.8 million for the same period in 2017 or $0.38 per diluted share, down 31% compared to $0.55 per diluted share for the same period in 2017. Cash flow from operating activities was $6.3 million compared to $14.9 million during the same period in 2017. Click Read More below for additional information.
Back To Top
×Close search
Search