Based in Cambridge, UK, Xaar has completed the acquisition of print systems and printbar specialist FFEI Limited. The deal will enable Xaar to capture additional opportunities in vertically integrated solutions. FFEI originally stood for 'Fuji Film Electronic Imaging' and represented the last surviving DNA of Crosfield Electronics, which was co-owned by Fujifilm in the 1990s. Under former Crosfield executive CEO Andy Cook, FFEI developed the Graphium inkjet hybrid label press, which has evolved into the Canon LabelStream.
 |
| FFEI's Graphium inkjet hybrid label press uses Xaar printheads and Edale converting |
FFEI is a leading integrator and manufacturer of industrial digital inkjet systems and digital life science technology with many years of experience in managing technical integration and engineering projects. Its highly innovative and advanced imaging solutions and printbar manufacturing have enabled the business to establish several joint ventures with world leading organisations in both digital inkjet and life sciences.
The company says that, the addition of FFEI will strengthen Xaar’s capabilities and skills and will help to provide a more comprehensive solution for its growing number of OEM and UDI (User Developer Integrator) customers.
 |
| Xaar CEO John Mills |
Based in Hemel Hempstead, UK, CEO Andy Cook and CFO Julian Payne will remain in their current roles and report to Xaar’s CEO John Mills, a seasoned digital print leader and formerly Managing Director of Inca Digital. Bob Wilson, FFEI’s CTO, will join Xaar in a senior position within the printhead business, where he will focus on delivering technologies for the company’s UDI customers.
Mills says: “Having restructured and stabilised our core printhead business, the acquisition of FFEI will accelerate our strategy and expand our customer offering in a range of markets. As well as providing a number of ready-made solutions, the acquisition will further enhance Xaar’s world class expertise.
“I’ve personally known the FFEI team for many years and have long admired their capabilities having previously worked closely with them. We are very excited to welcome them to Xaar and look forward to integrating the business as we continue to deliver on our strategy.”
 |
| FFEI CEO Andy Cook |
Andy Cook comments: “We are delighted to become part of Xaar which represents a fantastic opportunity for the business to develop and grow. Xaar has been a long-term market leader with great technology and great people and is a perfect fit for the business.”
FFEI employs over 60 people and in the year to 31 March 2021 generated revenue of GBP £9.9 million. The initial cash consideration of £3.7 million was paid on completion, which reflects existing FFEI free cash reserves, with an additional £5.4 million deferred consideration to be paid out over three years. The Board expects the acquired expertise and resource to be utilised for projects that will drive long term profitable growth in Xaar’s core printhead business.
A proud legacy
While FFEI is best known for its Graphium inkjet label press, which combines Edale converting to make a complete hybrid system, It has also been instrumental in several medical imaging innovations, using its legacy Crosfield scanning and colour management know-how. In 2013, FFEI won a Queen's Award for Innovation for its Legato wholeslide digital pathology scanning technology.
The Graphium hybrid label press, using Xaar printheads, was initially offered by Fujifilm from 2013 and then by Océ in 2018, as the LabelStream 4000. Following the subsuming of the Océ name into Canon, the press has received a make-over and is now the Canon LabelStream 4000.
FFEI has a proud legacy dating back to 1947 when electronics expert John Crosfield, who had worked on Sonar and acoustic mines during WWII, started Crosfield Electronics. The story goes that Crosfield was sent by the Admiralty to Germany in 1945 to de-brief Dr Rudolf Hell, who had invented a fax-like machine for sending positional maps to U-Boats. Hell of course, later became a leader in colour scanning and page assembly systems. Crosfield Electronics initially found success with its Autotron press-register system, which greatly advanced colour in magazines. Later, its drum scanners and Studio systems became legendary. Crosfield's maternal great-grandfather was George Cadbury, of cocoa and chocolate fame.
Xaar under John Mills will no doubt develop and honour the legacy started by John Crosfield.
