Domino buys Canadian air cleaner PAT Technology Systems for C$2.1m
Domino Printing Sciences plc has acquired the air cleaning business of PAT Technology Systems Inc for C$2.1m.
PAT designs and makes air cleaning equipment for the printing industry and will be integrated with Domino's North American fume extraction business. The combined business will operate under the name Purex North America Ltd and will be based in Quebec.
Wayne Baird, co-founder and CEO of PAT Technology, will manage the combined business and will report to Paul Priestley, MD of Purex International Ltd.
Domino Printing said it was its fifth acquisition in the past year. It bought Control Information Technology GmbH for €4m in October, Domino's Belgian distributor for €4.3m in November, Photon Energy GmbH for €4m in June and Alternative Printing Services GmbH for €15.2m; a total of €27.5m.
The latest acquisition is expected to be earnings enhancing in the first full year.
Domino Printing's share price gained almost 4% on the news. It is now valued at around £245m.
