November 30, 2012 –On October 2, IIMAK announced the promotion of Doug Wagner to the position of president. Wagner is a six-year veteran at the company who came to IIMAK as senior vice president, sales and marketing for the North American and Export TTR business, and subsequently expanded commercial responsibilities to Europe and niche businesses.
Most recently, Wagner, held the position of executive vice president of sales and marketing. He will now oversee the company’s global businesses and report to Dick Marshall, chairman and CEO.
Prior to coming on board with the Amherst-NY thermal transfer ribbon manufacturer, Wagner spent nine years with Avery Dennison working in their Retail Information Services Group (RIS) in various positions, the last of which was vice president of sales& marketing for the Europe, Middle East and Africa region.
Wagner began his career working for the United States Department of State during the 1980′s, serving as a member of the Foreign Service at U.S. Embassies in Tunisia, Guatemala and Saudi Arabia. He holds an undergraduate degree in International Studies from West Virginia University. His time in this position gave him valuable experience in the international sector, which he was able to put to good use when he entered the AIDC industry.
In a recent interview with Marshall, he told us about his upcoming plans for Wagner. “We have really made a giant leap forward with the acquisition of IIMAK by Altus Capital Partners II, L.P.,” said Marshall. “In the near future, we will be making some new management changes, including Doug Wagner as president. I feel fully confident in the younger members of our management team coming up through the ranks. They are truly ready to take the baton and run with it. These changes, in combination with our new strength from Altus Capital Partners’ backing, put the company in a very solid position moving forward.
Continuing, Marshall told us, “Doug’s leadership will be instrumental as we build on our success in the core thermal transfer ribbon business, as well as focus on a strategy of expansion in adjacent markets with new products. Doug brings a deep understanding of global businesses and proven success in driving business development in all geographies across diverse markets. I couldn’t be more pleased to have his committed leadership in place to oversee our continued growth and innovation.”
When asked about his plans for IIMAK, Wagner told SCAN/DCR, “IIMAK is a sound company with all its ducks in a row. My goal is to build upon what my predecessors have put in place. I will try to accelerate growth in both our core and adjacent markets. New geographic markets
and continued innovation will be key to our success.
“Our new owners have been extremely supportive and are committed to our growth,” the new president continued. “With their backing, we can be more open to acquisition opportunities that present themselves. We can also make investments in new equipment that will strengthen our position in our TTR business and increase our success in our diversification efforts. There are some things going on that I can’t comment on, but suffice to say, it could bring great things to IIMAK.” Wagner said the diversification at the company will be in adjacent markets and conducive to the needs of the company’s global channel.
Challenges—solved and remaining
On another positive note, Wagner believes many of the challenges that TTR vendors have faced for years are a thing of the past. Shortages related to PET suppliers seem to be stabilizing. Price wars, that plagued the industry for so long, also seem to have subsided. And, in a number of talks with Marshall, he has even expressed admiration for some of his competitors, including Satoshi Kondo, former leader at DNP IMS America. All this is good news for what has sometimes been an embattled market. Wagner believes the biggest remaining challenges are due to macro-economic problems. “The European economy has not been good for our sales,” said Wagner. “Fortunately, moves we made in the area of diversification have helped us overcome any revenue we may have lost. That said, 2013 could be are very different market environment in Europe. “Even China and Brazil are feeling the effects of the European market downturn,” Wagner continued. “But, Latin America is still a very strong market for IIMAK. We are doing extremely well there.”
Advice for Congress
Next, Wagner expressed an opinion that seems to widespread among most Americans. “Our leaders need to find common ground and do what’s best for our country,” he told SCAN/DCR. “Digging their heals in the ground along party lines is counterproductive. We need to get the country moving…get people back to work, so we can stimulate the economy.”
Some positive signs
Although Wagner realizes we have a long way to go before the economy heals from the 2008/2009 recession, he does believe there are some positive signs that things are getting better. “Despite what you hear about the economy, 2011 and 2012 have been really great years for us. And, we believe 2013 could bring record sales. “Our products increase productivity and efficiency,” he continued. “And, businesses need this more than ever. I am feeling very confident about the future. IIMAK is on solid ground, and we are ready to capitalize on any opportunities we see.”
When asked for his final thoughts, Wagner stated, “I couldn’t be more appreciative of the opportunity given me by both Dick Marshall and the board of directors. Their confidence in my ability to take IIMAK forward only adds to my drive to succeed.”
Comment: We want to congratulate Wagner on his new promotion. Over the years, he has demonstrated his ability to be a major force in the TTR industry.
IIMAK, Amherst, NY
P: (716) 691-6333
About Altus Capital Partners
Based in Wilton, CT with an office in Lincolnshire, IL, Altus Capital Partners, Inc. invests alongside management in profitable small to medium-sized manufacturing companies domiciled in the U.S. that have proprietary technologies, processes and products. The Altus investment team is led by three partners who, in 17 years of successfully investing together, have acquired 23 platform companies.
For more information on Altus, please visit www.altuscapitalpartners.com.