Altus Capital Partners, a Wilton-based investment firm, has sold International Imaging Materials Inc. (IIMAK) to ACON Investments LLC, a private equity firm headquartered in Washington, D.C. The financial terms of the transaction were not disclosed.
Headquartered in Amherst, New York, IIMAK is a developer and manufacturer of thermal transfer ribbons, direct thermal films and fluid inks used to print on-demand information such as bar codes, text and graphics for the automatic identification, packaging and graphics markets. The company’s iiMED Medical Manufacturing Solutions division provides medical applications including orthopedic braces, sterile supplies, compression devices and patient mobility products. Altus acquired IIMAK in 2012.
“IIMAK grew both organically and made five add-on acquisitions during our investment,” said Russell Greenberg, managing partner of Altus Capital Partners. “This has been an important investment for Altus and we wish ACON Investments much future success with IIMAK.”