Fiery becomes independent; EFI appoints new CEO

by | Jun 13, 2023

Digital front-end technology provider Fiery has become an independent business after separating from EFI, while remaining owned by EFI’s owner Siris Capital Group, and EFI has also appointed a new CEO.

Pennisi: “EFI’s digital industrial inkjet portfolio is unmatched in the industry”

The move, announced this evening (25 January), will see Toby Weiss, chief operating officer and general manager of Fiery, continue to lead the business as its CEO, with Jeff Jacobson serving as executive chairman of Fiery in addition to his role as executive chairman of EFI.

“This realignment best positions Fiery, the leading global DFE provider, to accelerate investment and win in its current markets while also strategically expanding its footprint into key adjacencies – as exemplified by Fiery’s recent acquisition of CADlink Technology Corporation,” said Jacobson.

“I have always believed that digital imaging would not be where it is today without Fiery, and its separation from EFI will allow it to best serve customers in the DFE market.”

Weiss added: “Fiery solutions have always been about enabling digital print and making print engines better, and this is a milestone in furthering that mission.

“Fiery OEM partners will benefit knowing that they are working with a company that is completely focused on adding value to their print platforms with world-class colour management, high-performance image processing, and automated workflows.

“Fiery will remain focused on working closely with its OEM partners, including the EFI inkjet business, to continue developing cutting-edge technology that drives the next generation of automation, accuracy, and profit potential in digital printing.

“Fiery now has a greater ability to serve as a neutral partner to ensure OEMs capture success within digital print. We look forward to accelerating our investment as a standalone company, while driving our expanding product portfolio, incorporating world-class colour algorithms, and developing advanced cloud technology.”

Siris partner Tyler Sipprelle also commented: “Fiery is a foundational player in digital imaging, Establishing Fiery as an independent company positions the business to deepen its commercial and strategic partnerships across the industry.”

The separation means EFI will now be solely focused on digital inkjet for industrial applications. While, as mentioned, previous EFI CEO Jacobson will stay on as executive chairman of both EFI and Fiery, EFI has also today revealed the appointment of industrial and technology sectors veteran Frank Pennisi as its new CEO.

“No company in the industry can match the depth and breadth of EFI’s industrial inkjet portfolio and I am looking forward to this next chapter of growth under Frank’s leadership,” said Jacobson.

Pennisi comes to EFI from Orora Packaging Solutions, which provides custom packaging products with an emphasis on corrugated. While managing this business as its president and CEO, Pennisi was an EFI customer, using the company’s Nozomi single-pass inkjet, super-high-speed digital printer.

His experience with EFI extends to the close collaboration and consulting he has done with Orora Packaging’s sister company, Orora Visuall, which operates EFI Vutek and Reggiani printers.

Pennisi had previously spent two decades in leadership positions at FLIR Systems (now Teledyne FLIR), Honeywell, and GE.

“As a former customer, I know that EFI’s digital industrial inkjet portfolio is unmatched in the industry,” said Pennisi.

“The company’s suite of equipment, inks, and intelligent service positions it to address its customers’ most critical needs. I am thrilled to be joining EFI at this pivotal moment as the industry transitions toward digital inkjet.”

Siris’ Sipprelle commented: “I am excited that Frank shares our enthusiasm about the possibilities for EFI as an industrial inkjet leader and will bring his leadership and unique customer perspective to the company.

“Jeff’s leadership has been pivotal since Siris’ acquisition of EFI [in 2019], through the first chapter of transformation and the challenges of the Covid pandemic, and he will continue to play a critical role moving forward as EFI’s executive chairman.

“With Frank, Jeff, and all the passionate and committed EFI team members, I am confident we have the best possible organisation to continue to transform the industrial imaging industry.”

This text is reproduced with kind permission of Print Week, you can read the original article first published here