Ikonics Acquires Image Mate
The Image Mate brand, which belonged to Columbus, OH-based Franklin Int’l, is now the property of Ikonics, a developer of imaging technology based in Duluth, MN. Chromaline Screen Print Products is a division of Ikonics.
Image Mate assets, including inventory, were purchased for $380,000 in cash and other considerations, such a long-term agreement to purchase key raw materials from Franklin. All Image Mate production will move to Duluth, where additional manufacturing staff will be required. Ikonics CEO Bill Ulland says the acquisition will grow sales by bringing new and complementary products to the company’s Chromaline business and strengthening international offerings.
“Franklin Int’l has done an admirable job of formulating and promoting the Image Mate line,” Ulland says. “We look forward to advancing the brand by providing enhanced sales, marketing, and product-development support to the Image Mate distributor network.”