In August of 2024, Springfield, VT-based ImageTek Manufacturing was acquired by an international conglomerate with a broad portfolio of industrial and manufacturing interests. Venture 7 served as the exclusive merger and acquisition advisor to ImageTek in the transaction.
ImageTek itself is a diversified business; the company manufactures a line of highly specialized laminating label printers, and also converts and prints durable labels designed to withstand a range of harsh environments in the automotive, construction, aerospace and other industries. They are also a contract manufacturer of printed circuit boards (PCBs) and wire assemblies for other manufacturers.
Mike Hathaway, ImageTek’s owner and Chief Executive Officer, guided the company’s growth for 28 years. Looking ahead to his eventual retirement, Mike contacted Venture 7 Advisors during a time when the ImageTek was doing better than ever, knowing that buyers are attracted to companies on the upswing.
According to Mike, “Venture 7 quickly came to understand the nuances of our business. They developed excellent marketing materials, and did extensive research to identify potential buyers. They launched the sales effort with an outreach to over 3,000 buyers, and within a short time we had a tremendous response. There were interested parties literally from all over the world.”
Mike continues, “The guys at Venture 7 evaluated the 24 offers we received, and we ended up with a short list of five serious contenders. I know that these deals don’t happen overnight, but I didn’t expect the whole process to take 15 months. The due diligence and negotiation phases were more complicated because of the international nature of the transaction.”
The new owner has manufacturing facilities in Asia, Europe, the Middle East and Latin America, but ImageTek was their first acquisition in North America. ImageTek’s products align well with the new owner’s and ImageTek will soon have an even broader range of products to offer their existing customers.
Additional investment in ImageTek’s manufacturing presence in Springfield, Vermont have already been made and sales are up more than 30% just five months after the transaction.
About Venture 7 Advisors:
Venture 7 Advisors is a team of merger and acquisition advisors who assist the owners of small and mid-sized companies to plan and complete the sale of their business. We find the best buyer to meet each business owner’s financial and legacy goals. We represent clients in consumer products, distribution, manufacturing, B2B services, construction, telecommunications, and eCommerce from offices in Burlington, Vermont, the Hudson Valley, New York, and Western Massachusetts.
We're here to talk about your situation, provide information, discuss your options, and put things in perspective. Contact us at any time:
Bryan Ducharme
Managing Partner
Mobile: 802 578 6462