By: E&P Staff Press consumables manufacturer Day International, Dayton, Ohio, continues to grow by acquisition with an agreement to buy Hydro Dynamic Products (HDP), Shoreham by Sea, England.
Privately held HDP has produced pressroom consumables for more than 30 years, catering to an international market, particularly smaller printers. The company makes and sells printing blankets, pressroom chemistry, and press spare parts, as well as a waste-management and collection service.
Day Interntional is acquiring HDP's assets, said Day Chief Financial Officer Tom Koenig, explaining that Day intends to move production at HDP's Shoreham by Sea plant to Day's facility near Manchester. HDP's facility will be used as a regional distribution warehouse, and equipment will be either moved to Manchester or sold, Koenig says.
"HDP was owned by two individuals who were looking to exit the industry, so we got into discussions about acquiring it," Koenig said, pointing out that Day has been growing steadily over the last 10 years as a result of acquisitions and internal growth. "This was another piece that fit with our business." The fact that HDP has traditionally serviced smaller accounts makes their business complementary, as there is little customer crossover, he added.
Day International was itself acquired last July by the multi-national ink and pressroom consumables manufacturer Flint Group, headquartered in Luxembourg.
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