Recently acquired Auburn manufacturer buys Arizona company, predicts job growth
A recently acquired Auburn manufacturer of technology cleaning products has just made an acquisition of its own.
KICTeam Inc., which produces wipes, swabs and other supplies for cleaning electronic devices, purchased Teknipure, of Mesa, Ariz., for an undisclosed price, according to a news release Wednesday.
Teknipure manufactures specialty cleaning solutions for use in a variety of industries, including biopharmaceuticals, medical devices and advanced electronics. KICTeam’s products are used primarily in the financial technology sector, as well as in retail, hospitality and other markets.
KICTeam is headquartered at 1130 Minot Ave. in Auburn, and operates manufacturing facilities there and in the U.K., along with regional offices worldwide. The company was acquired in May by Inverness Graham Investments, a private equity firm based in Newtown Square, Pa.
Terms of that deal were also not disclosed. Inverness said at the time it was looking to acquire companies with annual revenues of at least $4 million.
On Wednesday, a KICTeam spokesman wouldn’t reveal his company’s revenues, but acknowledged they were larger than the Inverness threshold. He also predicted the addition of jobs at both the Auburn and Arizona locations, although he didn't provide details.
“We are excited about the growth opportunity this presents for both KIC and Teknipure, and grateful for the financial backing of Inverness Graham to help make this happen,” Marketing Director Barry Issberner wrote in an email.
“This is the beginning of a long range growth plan for KIC, as we broaden our scope to new segments and product lines focused on contamination control.”
In a news release, KICTeam CEO Ian McCormick said, “Technical cleaning has always been at the core of our business and Teknipure offers access to exciting new markets and products. As we look to build a portfolio of high-performing businesses within the area of contamination control, we are excited by the possibilities offered by Teknipure and look forward to working with the team to build on their recent successes.”
Teknipure Vice President Chris Heiland added, “The global COVID-19 pandemic has heightened the need for these solutions and prioritized the need for a flexible supply chain with operations in the U.S. By partnering with Inverness Graham and KIC, we will be able to invest in U.S.-based capacity and seamlessly accelerate growth with our customers.”
KICTeam traces its roots to 1997, according to its website. The company emerged after custom contractor Enesco USA Inc., also of Auburn, bought KIC Products (for “keep it clean”) in 2004, and then joined it with a San Diego-based competitor, Clean Team, in 2007.
KICTeam developed a family of proprietary cleaning solutions, Envanish, including waffle-shaped cards to clean cash dispensing machines at banks and casinos. By 2014, Mainebiz reported, the company was selling 30 million cards and other products annually.
The product line now also includes solutions for thermal printers, check and document scanners, currency counters, bill acceptors, barcode scanners, keyboards and PIN pads. KICTeam supplies over 50 original-equipment manufacturers, including NCR Corp. and Verifone, according to Issberner.
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