MTEX NS offers label, packaging, and direct-to-film printing solutions and runs an 81,000ft2 facility for engineering and manufacturing


AstroNova acquires MTEX NS for €24.3m. (Credit: Bank Phrom on Unsplash)

AstroNova, a data visualisation technologies firm, has acquired digital printing technology company MTEX NS for a total enterprise value of €24.3m.

Based in a technology hub outside Porto, Portugal, MTEX NS offers label, packaging, and direct-to-film printing solutions. The company runs an 81,000ft2 facility for engineering and manufacturing.

It boasts distribution networks spanning Europe, the Middle East, North America, and South America.

MTEX NS offers industrial printing solutions tailored for packaging, flexible packaging, color labels, and textiles within the digital printing market.

The company offers professional wide-format and dual-sided printing capabilities for corrugated boxes and paper, serving industries like healthcare, logistics, and e-commerce.

The digital printing firm enables flexible package printing on various substrates, including thermoplastic polymers, multilayer materials, and paper, catering to needs in healthcare, food and beverage, and other applications.

Additionally, MTEX NS delivers high-speed, professional colour label printing and finishing solutions for both in-house and commercial printing needs.

Furthermore, the firm provides printing solutions for transfer film, facilitating the transfer of images onto a diverse range of materials.

Under the ownership of AstroNova, the printing solutions provider will function as a wholly-owned subsidiary.

The complete MTEX NS team is anticipated to continue under the existing brand and management structure.

AstroNova president and CEO Greg Woods said: “MTEX NS brings multiple complementary market adjacencies while broadening our addressable customer base and geographic reach.

“Recently, MTEX NS introduced a breakthrough printer for direct-to-film (DTF) transfers that enables printing on a wide variety of materials including fabrics, leather, and hard-surface materials.

“The acquisition also further expands our sustainable packaging capabilities, such as recycled cardboard printing and environmentally friendly, water-based inks.”

According to the terms of the deal, the agreement offers up to a €4m earnout payable to the seller over three years contingent upon meeting predefined revenue growth milestones.

AstroNova anticipates that the transaction will contribute an extra $8m to $10m in revenue during the current fiscal year.

MTEX NS CEO Elói Ferreira said: “Since our inception in 2011, we have challenged the status quo of the global printing industry in our served markets, building a reputation for excellence with customers in approximately 100 countries around the world.”

Funding for the acquisition was sourced through borrowings from an amended version of the company’s senior bank debt facilities.