Iconex: A Success Story of Transformation and Growth by Atlas Holdings
Deal News | Nov 04, 2024 | Atlas Holdings LLC
Atlas Holdings LLC has announced its full exit from its investment in Iconex, following the sale of Iconex's North American paper receipt solutions business to Domtar Corporation. This transaction marks the culmination of Atlas's transformative journey with Iconex, which began in 2016 when Atlas acquired the Interactive Printer Solutions Division from NCR Corporation. Over the years, Atlas has positioned Iconex as a leader in the North American receipt market while growing its label operations into a major manufacturing force. Partnering closely with Iconex's leadership, Atlas managed to scale operations efficiently and drive strategic growth. The company's separate label business operations in Europe were recently sold to M2S Group. Atlas Partner Michael Sher and Iconex CEO Craig Gunckel reflect on the mutually beneficial partnership and express pride in the business achievements, highlighting data-driven decision-making and strategic acquisitions as key successes.
Sectors
- Private Equity
- Manufacturing
- Business Services
Geography
- United States – Atlas Holdings is based in Greenwich, Connecticut, and Iconex's primary operations are in North America, making the U.S. a central geographic focus.
- Europe – Iconex's European operations were sold to M2S Group, emphasizing Europe's relevance in the article.
Industry
- Private Equity – This industry is relevant as the article discusses Atlas Holdings, a prominent private equity firm, and its investment strategy and exit from Iconex.
- Manufacturing – Iconex operates in the manufacturing industry, specifically in the production of paper receipts and labels, making this industry pertinent to the article.
- Business Services – The transformation of Iconex also involved services that enhanced the company's operational efficiencies and market position, linking it to this industry.
Financials
- Undisclosed – The deal amounts for the sale to Domtar Corporation and M2S Group were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Atlas Holdings LLC | Private Equity Firm | Company | An investment firm that acquired and transformed Iconex into a market leader. |
| Iconex LLC | Target Company | Company | A manufacturer of receipt and label solutions, transformed and sold by Atlas Holdings. |
| Domtar Corporation | Buyer | Company | Acquired Iconex's North American paper receipt solutions business from Atlas Holdings. |
| M2S Group | Buyer | Company | Acquired Iconex's label solutions business and European operations. |
| Michael Sher | Partner | Person | Partner at Atlas Holdings, involved in the Iconex transformation. |
| Craig Gunckel | Chief Executive Officer | Person | CEO of Iconex, led the company alongside Atlas during its transformation. |