EFI SPLITS OFF FIERY, GETS NEW CEO

Digital imaging giant EFI has split off its Fiery business into a new separate independent company, and appointed Frank Pennisi as its new CEO. He was previously running Orora's packaging business.

The move comes 13 months after EFI – formed in 1990 by legendary industry visionary Efi Arazi – spun out its software arm, which also became a stand-alone business, eProductivity Software.

As separate companies, EFI and Fiery will have distinct areas of strategic focus that they say will enable them 'to serve their customers better and grow over the long-term', with EFI focused on industrial inkjet, and Fiery as the world’s leading digital front end provider.

Jeff Jacobson, a 35-year veteran of the digital imaging sector who led EFI as CEO following its 2019 take-private by p/e fund Siris, will remain executive chairman of each business.

Frank Pennisi, a veteran of the industrial and technology sectors, becomes EFI CEO. Pennisi was previously president and CEO of Orora Packaging Solutions, the Australian owned company with a major US packaging business, and which has several EFI Nozomi printers installed.

EFI’s Fiery business unit, which provides digital front ends for most digital presses, and has been separated as an independent company, will remain wholly owned by Siris, which also owns EFI.

Jacobson said, “This realignment positions both EFI, now solely focused on digital inkjet for industrial applications, and Fiery, the leading global DFE provider, to win in their independent markets, while maintaining the close partnership that has contributed to the success of each business.

“Digital imaging would not be where it is today without Fiery. Operating as a standalone company will only further strengthen Fiery’s market-leading position in providing innovative DFE solutions.

“Similarly, 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.

Headquartered in New Hampshire, EFI will be solely focused on driving the analogue-to-digital transition across the packaging and corrugated, display graphics, textile, and building materials/décor end-markets for industrial inkjet.

Orora Packaging Solutions is a leading provider of custom packaging solutions with an emphasis on corrugated. While managing Orora Packaging Solutions as its president and CEO, Pennisi was an EFI customer, using EFI’s Nozomi single-pass inkjet, super-high-speed digital printer. His experience with EFI solutions extends to the close collaboration and consulting he has done with Orora Packaging’s sister company, Orora Visual – a leading display graphics provider that is among the largest North American users of EFI Vutek display graphics and EFI Reggiani industrial textile digital printers. Pennisi spent two decades in leadership positions at Flir Systems, 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.”

As an independent company, the market-leading Fiery business will continue to provide industry-leading DFE technology for digital production and industrial printing. Toby Weiss, long-time COO and general manager of Fiery, will continue to lead the business as CEO of Fiery.

“Fiery will remain focused on working closely with our 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,” said Weiss. “We look forward to accelerating our investment as a standalone company, while driving our expanding product portfolio, incorporating world-class color algorithms, and developing advanced cloud technology.”

EFI has separated its two divisions into separate companies and appointed a new CEO