XSYS, a global integrated solutions provider to the flexographic, letterpress and prepress printing markets, has entered into a definitive agreement with Element Solutions under which XSYS will acquire certain shares and assets held by subsidiaries of Element Solutions, comprising the MacDermid Graphics Solutions business for an enterprise value of approximately USD 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 has also announced 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. Dohn has now decided to pursue other endeavors.
The board has appointed Dr. Alexander Unterschütz as the new group CEO in order to spearhead XSYS’s next growth chapter. Unterschütz brings significant leadership experience with him with a strong track record of driving transformation programs and implementing successful growth strategies. 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.
“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 Unterschütz.