Kodak’s ISS arm develops, manufactures, and markets solid state image sensor devices. These are used in a range of situations, including precision manufacturing inspection, digital radiography, earth imaging satellites, traffic monitoring, studio photography cameras and DNA sequencing systems.
Included in the sale is a 263,000 square foot facility in Eastman Business Park in Rochester, New York, that houses manufacturing and research facilities.
Brian Wall, a partner at Platinum Equity who led the acquisition, said, “This is a great opportunity to acquire a business with an impressive record for delivering innovative solutions to customers around the world. The ISS business has a strong management team with the right vision for leading the company into the future. We share their commitment to product development and customer service and are committed to helping the business realize its full potential.
“Our operations group will work hand-in-hand with the management team to ensure a seamless transition while allowing the organisation to stay focused on delivering world class imaging products and solutions. We are proud to have forged a unique divestiture solution in partnership with Kodak that serves the best interests of everyone involved,” he added.
Last month Platinum announced it had bought fleet rental company Nesco from US private equity firm Hammond, Kennedy, Whitney & Company.
Copyright © 2011 AltAssets