Dover's Printing & Identification (DPI) segment includes the labelling and marking businesses Markem-Imaje and Datamax O'Neil, but it had no pre-existing wide-format interests. Vice-president of investor relations Paul Goldberg said: "The acquisition broadens our served markets into the textile and speciality materials markets and also affords us the opportunity to leverage the exciting MS technology across the segment." Paolo Milini, now vice-president of MS, told Digital Textile printing the sale was the right decision in order to maintain levels of service after a period of extraordinary growth.
The company needed access to Dover's established international infrastructure for technical support. MS sales grew by 80% from 2012-2013 and its projection for 2014 is that revenues will be around $70 million. The company, whose flagship product is the super-fast MS-LaRio, recently expanded its production site to a covered area of 6,000sqm and is bringing forward new entry-level plotter models, the MS-JP2 and MS-JP3. Its production is currently averaging 18 machines a month. Goldberg said: "MS can leverage Dover's existing infrastructure and strong balance sheet to accelerate growth and enhance profitability."
Initially, there would be no changes to Dover's DPI segment but the company would examine ways to leverage MS's technology to the broader market, and also see how MS could best take advantage of the existing Dover infrastructure. Luigi Milini, father of Paolo, will remain with the company as president. Details of the transaction have not been disclosed.
