Ink and consumables giant Sun Chemical has upped its presence in the premium security inks market with the acquisition of specialist UK manufacturer Luminescence.
Family-owned Luminescence was established in 1987. It is based in Harlow and makes a wide range of products used to protect documents and other items from alteration and counterfeiting.
The Luminescence range of UV and conventional security inks spans numerous analogue printing processes as well as inkjet applications. The company also makes security threads for passports. It has customers in more than 100 countries.
Sun Chemical, together with its parent DIC Corporation, has acquired Luminescence Holdings for an undisclosed sum. In its most recent financial year, to 31 May 2017, Luminescence posted a £5.9m operating profit on sales up 37% to £12.6m. Gross margin was 70% and the business had shareholders' funds of £13.3m. It has around 70 staff.
PrintWeek understands that the Cooper family members who work at the Essex company will remain with the business.
It is Sun Chemical's second acquisition related to security printing this year, and the manufacturer said the buy would further increase its market share and "create an enormous growth platform" in the $2.7bn (£1.9bn) security ink market.
In a statement, Sun Chemical chief marketing officer Felipe Mellado praised Luminescence for its fantastic reputation in the security market for technology and service.
"Sun Chemical has the world's largest research and development capabilities in the ink marketplace. What these two companies bring together is a truly exciting global supplier that will further strengthen our service to customers," he said.
Last month Sun Chemical acquired Italian firm C.T.LAY, which has a product range that includes pre-laid overlays and pre-patched holograms for plastic and security cards.
Sun Chemical has sales of more than $7.5bn and around 20,000 employees around the world, and celebrates its bicentenary this year. The company will be showcasing its latest product developments and best practice guides at next month's PrintWeekLive! event.