The world of mergers and acquisitions (M&A) continues to hit nearly every industry, and the apparel industry isn’t immune. In recent M&A news, SAATI announced that SAATI ADVANCED CHEMICALS LLC — a newly formed South Carolina limited liability company fully owned by SAATI’s USA subsidiary SAATI Americas Corp. — has entered into a definitive agreement to purchase substantially all of the assets of IKONICS Corporation held in connection with its four business divisions (Chromaline Screen Print Products, IKONICS Imaging, IKONICS Industrial Inkjet Solutions, and IKONICS Advanced Material Solutions).

According to a press release, the objective of the transaction is to combine SAATI’s and IKONICS’ complementary solutions in screen printing and imaging businesses across the different market segments. The acquisition also aims to develop a common R&D plan for sustainable solutions for screen printing and imaging applications.

SAATI has long been a global player in the screen printing world, developing, manufacturing, and distributing technical fabrics; and breathable membranes, chemicals, and equipment for screen printing and other advanced niche markets. According to the press release, this move reflects another step in its growth strategy as a pre-press global supplier for the screen printing market.

At the time of writing, specific terms of the acquisition have not been disclosed. The transaction was expected to close by August 15.