Papertech Inc. (Papertech) and IBS Paper Performance Group (IBS) are pleased to announce that IBS has acquired all of Papertech in a cash/share transaction effective May 24th, 2016. IBS has been in business over 50 years, have an excellent reputation in the paper industry, are represented throughout the world, have over 700 employees, have good synergy with our technology, and most importantly have shown that they preserve the acquired companies culture and independence.
IBS has been growing rapidly and acquired many companies over the last couple of years (PMS, Transphase, JUD, James Ross, etc). Through these acquisitions, they have a proven record of retaining the original company’s identity, personnel and growing the business into the future.
“We were looking for a partner that could take Papertech to the next level of growth and business success while preserving the exceptional TotalVision products and services”, said Kari Hilden, President and CEO of Papertech Inc. He went on to say “IBS’ global reach, innovative product line and sales engine are the perfect complement to enable Papertech to grow to the next level.”
“We were impressed by Papertech’s growth and business results over the past several years as well as its service-first team and we anticipate a strong and positive response to this merger”, said Klaus Bartelmuss, President & CEO of IBS Paper Performance Group.
About Papertech Inc.
Papertech Inc. is the industry leading machine vision system supplier for various high speed continuous production lines in paper, pulp, tissue, steel, nonwoven, etc. industries. There are now over 1000 TotalVision™ installations in 38 countries. Papertech’s unified TotalVision™ platform, combining WebVision® event capturing (WMS) and WebInspector® web inspection (WIS), helps papermakers, tissue producers and other high speed manufacturing lines around the world optimize product quality and production efficiency.
About IBS PAPER PERFORMANCE GROUP
IBS PAPER PERFORMANCE GROUP is now 50 years dedicated to the pulp and paper, non-woven and tissue industry. 16 locations all over the world give our customers the guarantee of best available products and service in our industry. IBS PAPER PERFORMANCE GROUP is a 100 % family owned with the next generation already starting to continue according our well proven philosophy focusing highest possible quality of products supported by our highly qualified and loyal employees and management. Over 700 people are presently within the IBS PAPER PERFORMANCE GROUP and its different locations. Our focus is a solid and healthy growth in our business with the target being a world market leader with our special products.
We are proud to welcome Papertech as a new member of the IBS PAPER PERFORMANCE GROUP and we will make sure that the well-known name PAPERTECH with its excellent reputation will remain and grow into a successful future.