Landa Digital Printing could be part of SPAC on the NASDAQ Exchange

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According to a CTech report published online by the Israeli daily and website Calcalist, the private company Landa Digital Printing could be part of a SPAC and, therefore, be traded on the NASDAQ stock exchange. A SPAC (Special Purpose Acquisition Company) is a shell company – which is publicly traded – designed to acquire a private company, allowing it to go public and trade without going through the traditional process of IPO (IPO).

Benny Landa, President and CEO of Landa Digital Printing.

The article said Landa Digital Printing (LDP) founder Benny Landa had worked with Bank of America over the past few months to kick off the deal, and valued LDP at $2 billion, or 40 times annual sales. from the manufacturer of digital printing presses of around 50 million dollars. .

A March 9, 2021 business news report published by Globes also revealed that Benny Landa is joining forces with fellow Israeli businessman David (Dudi) Wiesmann – the chairman of oil company Sonol Israel Ltd. and founder of investment fund Gefen – to jointly launch SPAC on Wall Street, to raise $250 million.

Multiple inflows of external capital

LDP, a spin-off of Israel-based Landa Labs, which currently employs more than 500 people, has in the past secured infusions of outside capital in exchange for stakes. In June 2018, LDP received a $300 million equity financing, led by private investment firm SKion GmbH and joined by specialty chemicals group ALTANA, an already existing shareholder.

The 2018 investment of $300 million in LDP adds to the more than $400 million previously invested by Benny Landa and ALTANA. As a result, Benny Landa remained majority shareholder with a 54% stake. ALTANA and SKion together own 46% of the company, with ALTANA retaining a 33.3% stake. SKion and ALTANA are both 100% owned by billionaire heiress and German entrepreneur Susanne Klatten.

“My investment reflects my confidence in the technological potential of Landa Digital Printing,” Klatten said in a statement in 2018 following the second round of funding. “Together we can stimulate market demand for digital printing solutions. Being part of this new chapter in the history of printing also means an important entrepreneurial decision for me,” she added.

But it appears the combination of slowed Landa Nanographic press sales due to COVID-19, coupled with continued delays in Landa digital press launches and shipments before the pandemic, is causing investors ALTANA and SKion to question the lack of return on their investments in LDP.

Landa Digital Printing Press Sales in the United States

Nevertheless, LDP has completed some installations of digital sheetfed presses in B1 format in the United States. In February 2021, City of Industry, California-based K1 Packaging Group, a provider of custom packaging solutions for consumer products, announced the installation of a 6,500 sheet/hour digital press. Landa S10 Nanographic Printing Press, marking the first Landa digital press installed on the West Coast.

Duggal acquired Landa Digital Printing's digital press.

From left to right: Lenery Ike Smith, Paul Rosenblit and Michael Duggal of Duggal Visual Solutions with their Landa S10 press.

In October 2020, Duggal Visual Solutions announced that they had purchased a 41-inch seven-color Landa S10 for their production facilities in New York. At the time, it was advertised as the world’s first Landa Nanographic printing press equipped with high definition ready capabilities. “With the Landa S10, we can meet even more of our customers’ printing and packaging needs, much faster, along with customization and other special features,” said Mike Duggal, CEO of Duggal Visual Solutions , in a press release. “I feel everything is set up to meet the premium HD standards only found at Duggal.”

At a virtual press event in September 2020, LDP announced that its sheet-fed B1 S10 had been installed at 12 sites across multiple countries in North America and Europe, as well as installations in Israel and in China. The S10 press design incorporates Komori offset press feed and delivery components, as well as Fuji Dimatix inkjet heads.

At the press event, Benny Landa shared that he was looking forward to drupa 2021 in Germany (which was eventually canceled due to COVID-19 issues). “If COVID-19 has taught us anything, it’s that the world is not returning to the old normal,” Landa said. “And the new normal will be more digital than the old one.”

Despite LDP’s mixed B1 format sales results, a recent survey of B2 inkjet presses conducted by NAPCO Research (email [email protected] for details) indicated strong interest among American commercial printers for the acquisition of a 29-inch production inkjet press. In fact, 25% of respondents indicated that they plan to purchase a B2 sheet-fed inkjet press within the next two years. The main reasons cited were lower running costs than offset for short-run jobs, compatibility with common offset coated papers and specialty substrates, and larger sheet size compared to jet models. smaller ink cartridges to enable higher productivity.

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