Vanguard Graphics International Acquires Xitron
St. Paul, MN—March 14, 2007—Vanguard Graphics International (“VGI”) today announced its acquisition of Xitron, Inc., a leading graphic arts industry developer and integrator of Raster Image Processors (RIP’s), RIP management software and related digital workflow solutions. Xitron is headquartered in Ann Arbor, MI and markets its products worldwide.
Vanguard Graphics International is a privately held holding company specializing in acquiring and managing graphic arts companies that serve small to medium sized printers worldwide. In addition to Xitron, VGI owns Printware, LLC of St. Paul, Minnesota, a leading provider of innovative prepress solutions focused primarily on polyester and metal based computer-to-plate systems and HighWater Designs Limited of Cheltenham, England, a company well known for its line of reliable, high performance Torrent RIP’s and metal computer-to-plate platesetters.
Stanley Goldberg, President and CEO of VGI, stated, “The acquisition of Xitron is a perfect fit with our strategy of acquiring ‘best of class’ graphic arts businesses that provide meaningful prepress solutions and allow our end users printers to operate more efficiently and effectively.”
Mark Eisenschenk, VGI’s Chief Operating Officer and CFO also noted, “Our principal goal and that of each of our portfolio companies is to provide printers in the graphic arts industry with worry free prepress solutions. To that end, and in addition to conducting our own extensive research and development, we are also actively evaluating opportunities to acquire other related businesses.”
Eisenschenk concluded, “Vanguard is well positioned for continued growth from internal initiatives, consisting of new product introductions and geographic expansion, as well as through additional acquisitions. We are financially strong with access to financial markets from both private equity capital as well as through JPMorgan Chase, a world class financial institution.”