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Champagne atmosphere as Andrew sells MetalFX
LEEDS entrepreneur Andrew Ainge has sold his hi-tech print business to international giant Ciba Specialty Chemicals for an undisclosed sum.
Mr Ainge and his company, MetalFX, have scooped a clutch of industry, innovation and export awards since it was formed in 2002.
Ciba has acquired a majority share - understood to be 80 per cent - of the Guiseley-based business while Mr Ainge retains a 20 per cent stake.
He will continue to head the company which will be further developed and expanded with Ciba's backing.
MetalFX's technology can produce thousands of metallic effects in one run on a five-colour printing press with the use of special silver ink.
Mr Ainge said the company's aim was to take colour communication "way beyond its current boundaries" and to produce an easy-to-use package for printers worldwide.
He added: "We will be expanding the toolbox that enables printers to reproduce colours accurately and to the highest quality."
Although MetalFX only employs seven staff, it exports to 87 countries via licensing agreements with printers and distributors.
Mr Ainge hit the headlines earlier this year with an altogether more frivolous invention - a pack selling fresh air.
His 4.95 Bottled Atmosphere Capture kit has proved such a hit that it is in increasing demand by shops in countries around the world.
It comprises of a bottle, a cord and a cork - the idea being that the buyer fills the bottle with the atmosphere of a special moment, and saves it forever.
Advised
It was the by-product of a 10 bet made with a friend in 1990 that he could sell fresh air.
The product was officially launched at the Spring Fair for the gift industry at Birmingham's NEC.
Leeds-based hlw Commercial Lawyers advised Mr Ainge on the MetalFX deal while a corporate team from Hammonds in Leeds advised Ciba on the acquisition.
Mr Ainge's advisors also included accountants Mazars and HSBC.
The deal marked the sixth in as many months for hlw, which specialises in commercial, corporate and employment law and has 19 partners across its Leeds and Sheffield offices.
Recent transactions saw hlw advise the owners of Armley software house Datranet on its sale to Detroit based Autoweb Inc – part of the Japanese telecomms giant Nippon Telegraph and Telephone.
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Weather for Leeds
Wednesday 23 May 2012
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