QuadTech Inc., Modine Manufacturing Co., WellPoint Inc.
QuadTech acquires Irish print inspection technology firm
Sussex-based QuadTech, Inc. has purchased Limerick, Ireland-based Vigitek, a designer and manufacturer of 100 percent print inspection technology. QuadTech said that "the acquisition strengthens print quality solutions for printers and converters in the packaging industry by bringing together QuadTech’s advanced register guidance system with Vigitek’s state-of-the-art print defect detection technology." Vigitek will operate as a subsidiary of QuadTech, and will continue to function as its own entity. "We are excited to combine our companies’ products and know-how to benefit the packaging industry worldwide," said Karl Fritchen, president of QuadTech. "Vigitek excels at continuous defect detection across the entire press web. QuadTech excels at register controls. Together, we offer a premier solution for the packaging industry."
The precision and reliability of QuadTech’s and Vigitek’s solutions are equally well-suited for the decorative print industry, where precise color and register are essential to maintain pattern, repeat length and color consistency, Fritchen said. "We, too, are excited about the acquisition," added Martin Cooke, chief executive officer of Vigitek. "As part of QuadTech, we can accelerate the marketing of our print inspection technology in Europe, Asia and the Americas to help printers and converters produce packaging that reflects the quality of their customers’ brand while minimizing waste and costs." QuadTech is the research and development subsidiary of Sussex-based Quad/Graphics Inc.
Modine closes on sale of subsidiary
Racine-based Modine Manufacturing Co. announced that it has sold substantially all of the assets of its Thermacore Inc. electronics cooling subsidiary based in Lancaster, Pa., , for $13.25 million. The price includes $2.5 million of seller financing with subordinated, promissory notes delivered by the buyer. The purchaser, FSBO Ventures, is owned by current and former members of Thermacore’s management team. Commenting on the divestiture, Modine president and chief executive officer Thomas Burke said, "The sale of Thermacore is consistent with our strategy to divest non-core or underperforming assets in order to focus our leadership attention and capital resources on more strategic, value-adding opportunities."
WellPoint acquires large dental benefit plan
WellPoint Inc., the nation’s largest health benefits company, announced the acquisition of DeCare Dental, one of the country’s largest administrators of dental benefit plans. DeCare, a Minneapolis-based company, manages 4 million members representing 21,000 group customers. The acquisition of DeCare enhances WellPoint’s ability to offer dental products that balance affordability and access, drawing upon DeCare’s expertise in dental analytics and operations.
"The acquisition of DeCare builds upon a core focus of WellPoint which is to continually provide our members with innovative and industry-leading products," said Angela Braly, president and chief executive officer of Indianapolis-based WellPoint, which operates Wisconsin Blue Cross & Blue Shield. "DeCare has clearly emerged as a leader in administering dental benefits. Their unique tools and services and exceptional management team will enhance WellPoint’s ability to provide affordable, high-quality dental benefits to our members nationwide."
"DeCare is excited to join a company that has a unique market position of having both national scale and strong local depth," said Michael Walsh, president and CEO of DeCare. "Our employees will be able to serve a much larger population of dental and medical members, executing on our mission to serve the oral health needs of our communities." Upon completion of the acquisition, WellPoint will become one of the largest providers and administrators of dental benefits in the country with significant growth opportunities nationwide. Both WellPoint and DeCare will continue to service their current clients while both dental organizations are integrated.
