GREENWICH, Conn.--(BUSINESS WIRE)--Atlas Holdings LLC announced today the launch of Iconex™, its newest operating company, with the acquisition of the Interactive Printer Solutions (IPS) division of NCR Corporation (NYSE:NCR). Iconex invented the cash register receipt 130 years ago and continues to be the world’s largest manufacturer of quality receipt solutions. The transaction includes all dedicated assets and employees of NCR’s IPS division worldwide, other than in the Middle East and Africa (MEA) region. An additional technical closing for the MEA region is expected to occur in the third quarter of 2016, following satisfaction of regional closing conditions. With over 800 associates, Iconex operates 26 manufacturing facilities and distribution centers. Financial terms of the transaction were not disclosed.
Over the past sixteen years, Atlas has successfully partnered with numerous corporations to carve-out business divisions and form stand-alone companies that strengthen their workforces, increase revenues and enhance the communities of which they are a part.
“Iconex is the premier provider of solutions that power commerce around the world,” said Andrew M. Bursky, Managing Partner at Atlas Holdings. “This transaction combines an iconic brand, known for its ‘best-in-class’ quality, innovation and customer service, with Atlas’ financial and human capital and proven ability to grow manufacturing and distribution businesses. We are very excited to welcome the Iconex team to the Atlas family.”
Iconex will be led by Eddie Noel, who has served as Vice President and General Manager of IPS for the past four years.
Noel added, “I am honored to lead our great team at Iconex as we transition to a stand-alone business under the Atlas banner. Our bold name says a lot about who we are; it reflects our heritage as the inventor and continued leader in receipts, our innovative labeling and tracking products, and our unique tradition of always facilitating seamless connections between businesses, people and goods. Put simply, we keep commerce moving.”
Iconex is the leading provider of solutions essential to daily commerce. We are the iconic inventor and continued leader in receipts, and we connect people and goods through superior labeling and tracking technology. Building upon our unique tradition of innovation, we are creating the next generation of business process improvements. For more information, visit www.iconex.com.
About Atlas Holdings LLC
Founded in 2002, Atlas Holdings LLC is headquartered in Greenwich, Connecticut. Atlas and its affiliates own 17 companies that employ approximately 23,000 associates and operate from more than 120 facilities across the globe, generating more than $4.5 billion in revenue annually. Atlas companies are engaged in a variety of industries, including steel, paper and tissue, packaging, aluminum processing, automotive, building materials, capital equipment, construction, energy, industrial services, power generation, and supply chain management. Visit www.atlasholdingsllc.com for more information.