Wednesday, April 14, 2010
Paradigm Global Partners LLP today announced its acquisition of the global imaging manufacturer, ILFORD Imaging Switzerland GmbH, with the sole intention of realising the full value potential of this iconic imaging business.
Recognising the assets that ILFORD has to offer, including its capability for developing leading edge technology, its state of the art manufacturing facility and its world-renowned brand, Paradigm believes there is scope for significant future growth and value creation.
The Paradigm acquisition will maintain the financial stability of the company and provides a sound platform to manage future challenges. One of Paradigm’s philosophies, to secure the future of a business through investment, has already been realised with the approval of capital expenditure to move forward a key development in the manufacturing facility in Switzerland.
Clifford Herbertson, one of the Founding Partners of Paradigm said: “Our ethos is to build on the existing strengths of the companies that we acquire and ILFORD has many positive attributes. We bring a wealth of experience and expertise to the table and in partnership with the existing Management Team of Ilford we believe we can generate significant growth for the business. Herbertson continued: “The transition in ownership has been swift and now our focus and attention will turn to building mutually-beneficial partnerships with our customers and better meeting the demands of the market.”
Commenting on Oji Paper, the former parent company of ILFORD, Michael McVicar, the other Founding Partner of Paradigm, concluded: “We are appreciative of the investments made by Oji Paper during its ownership of the business and the professional manner in which they engaged in negotiations and discussion around this transaction.”
Reflecting on the change in ownership Lars Sommerhauser, Chief Operating Officer, commented: “The last few years have been tough for the imaging business as a whole, including ILFORD. This announcement has injected a renewed sense of energy and excitement within the company and provided the business with focus and direction. We are committed to servicing the global market where there is a demand for the premium quality products that we manufacture and this will necessitate a strengthening of our business units in the USA and Asia.” Sommerhauser concluded: “ILFORD has a reputation for developing and manufacturing the best imaging products in the world and I believe that with this acquisition the ILFORD name will continue to be at the forefront of coating and imaging technology for many years to come.”
Paradigm Global Partners LLP is an investment company that identifies businesses that are currently not realizing their full value potential and through active collaboration between management teams and experienced Paradigm professionals, seek to help the business realise its potential.
The company provides a strong blend of financial, strategic and operational expertise to help create lasting value in its companies.