Papertech Inc. is the industry leading machine vision system supplier for various high speed continuous production lines.
May 25, 2016
Papertech Inc. (Papertech) and IBS Paper Performance Group (IBS) announced that IBS has acquired all of Papertech in a cash/share transaction effective May 24, 2016. 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 (or acquisition)”, said Klaus Bartelmuss, President & CEO of IBS Paper Performance Group.
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. IBS PAPER PERFORMANCE GROUP is now 50 years dedicated to the pulp and paper, non-woven and tissue industry.