Mimaki has said that it has concluded the basic agreement on purchasing stocks of the Italian company La Meccanica, which specializes in producing digital textile printers.
According to Mimaki, the deal dates back to July of this year when one of its Italian sales agents introduced the two companies. This led to several months of discussions as to how the two could collaborate which has culminated in Mimaki buying all the stocks that have been issued by La Meccanica.
The deal will give Mimaki a significant European base for the digital textile market. La Meccanica is based in Bergamo, the heart of the Italian and European garment industries. The company was founded in 1977 and has been supplying and servicing digital textile printing equipment as well as machines for inspecting textiles and for packing.
Mimaki commented: “We are aiming to acquire the manufacturing knowhow of digital print devices and brand power to give a boost to our existing products, and improve our competitiveness in the textile inkjet printer industry in Europe and the world.”
Naturally, neither side has disclosed the sum paid by Mimaki, though it’s worth noting that La Meccanica has €517,000 in capital and sales of €6,000,000 for the year 2014. The company was wholly owned by its president, Paoline Gastoldi and his family. The formal agreement is due to be completed in March 2016. Mimaki has said that it won’t have any impact on its business results.