Iconex
www.iconex.com


Iconex, through organic growth and acquisitions, is poised for a bright future in the label printing and POS spaces.

While Iconex is a relatively new business, the company has deep roots that trace back to 1887. In June of 2016, Atlas Holdings bought the Interactive Printer Solutions division of NCR Corp. and launched Iconex. Today, the company has over 900 employees across North America and Europe. Iconex boasts 10 plants across the US and Mexico, and two plants in Europe. With headquarters in Duluth, GA, Iconex’s management team is headed up by CEO Craig Gunckel.

According to Iconex, it is the largest manufacturer of thermal paper receipts in the world. Its diverse portfolio extends well beyond paper receipts, though. Iconex plays in many different markets, including retail, hospitality, financial and distribution. The company’s versatility provides an edge during uncertain times.

“We provide solutions to help businesses improve processes, gain efficiencies and achieve their goals,” says Heather Hanlon, marketing and label business operations director at Iconex. “During the pandemic, we experienced a sharp initial decline in marketplace transactions in several key markets, however we’ve seen the situation stabilize over the last few months. We made swift and critical changes to manage the uncertainty for our customers and our co-workers. In parallel, some exciting new trends and opportunities have emerged that have Iconex excited for the future.”

That adaptability was on display during the height of the COVID-19 pandemic. The recent installation of four Martin Automatic MBS splicers in Morristown, TN were fitted to both existing and new ETI Cohesio lines, initially to support the company’s growth. However, the pandemic necessitated a pivot, and Iconex utilized the equipment to convert paper rolls into hand sanitizing wipes.

Iconex’s equipment runs the gamut, from Mark Andy P5 flexo presses to the new Martin Automatic MBS splicers.

“We constantly work to maintain great relationships with all our vendors to help grow our business,” notes Hanlon. “We think that it is important to create partnerships. To mention a few, we are partnering with Domino, Martin Automatic and ETI. These companies will help Iconex grow our business and set us up for continued growth.”

Iconex’s industry presence goes beyond printing labels, too. The company retains a patent on Iconex Sticky Media, which has changed the way many fast food and fast casual restaurants provide order accuracy, minimize food waste and save on material costs. This is even more true now, as accuracy and speed are critical during the pandemic.

“We combined two products, receipt paper and a pressure sensitive label to create our Sticky Media product,” explains Hanlon. “Iconex Sticky Media provides a solution to efficiently label, identify and track goods all in one product and all with no liner to peel. We also have the 2ST Ship Slip that has multiple patents. The Iconex 2ST Ship Slip allows the shipper to print on both sides of the shipping label. This eliminates extra printing steps, human errors and time spent matching documents with corresponding labels.”

Acquisitions have played a prominent role in Iconex’s story, as well. On November 1, 2017, Iconex acquired two companies on the same day. This immediately grew its footprint from two plants to six plants, and increased the company’s customer base in the process. Then in March of 2019, Iconex acquired the POS and long-run label business from Cenveo. This move further increased its footprint and customer base again.

“Each of our acquisitions has helped to grow our business and bring talent to our company,” says Hanlon. “Our label business is growing every day, and we are excited to continue to innovate to help our customers achieve their goals.”

Of course, the acquisitions and product patents don’t generate success without the proper people in place. Iconex’s values drive the culture of the company, states Hanlon. Additionally, the company adheres to the motto “One Iconex.”

“We believe in fostering an environment that is inclusive and welcoming for all,” she says. “Iconex is committed to engaging coworkers in decision making and strategic planning – because we know by doing so, we will continue to win. Iconex’s workforce is made up of many very talented people from all backgrounds, various walks of life and with expertise and experiences that add tremendous value to our company. Unleashing the collective power of all has proven successful over the three years Iconex has existed. The company’s value proposition has continued to evolve over time to meet growing customer demand and an ever-changing marketplace.”

A cornerstone of the culture at Iconex includes something as simple as the term “coworkers.” It is Gunckel’s signature term, and it adheres to his philosophy that everyone at Iconex is his coworker. He does not refer to anyone as an employee, associate or subordinate. He also doesn’t refer to himself as “the boss.”

“He believes we all work together for the good of Iconex. The term coworker is a unique part of our culture, albeit subtle,” says Hanlon. “Everyone generally adopts the term coworker within a few days of being in the CEO’s presence, without recognizing it initially. It’s one of those things that is ‘catchy’ at Iconex – catchy and meaningful. This is one example of the culture at Iconex. Culture, by definition, is about beliefs and behaviors; company culture is often implied and can be summed up by the things that are said and done consistently by people who are part of the organization. Treating people as equal contributors in the company, no matter their role or title, sets the tone for what Iconex is all about. Our people are our culture.

“Our culture of ‘One Iconex’ has unlocked a collaborative spirit within the company that is really amazing,” she adds.  “We work hard to not only support our customers but also to add value to the communities we serve in a variety of ways.”

The company’s culture and portfolio, which are both on the rise, have Iconex situated perfectly to find success in the years to come. “The future is bright for Iconex as we continue to focus on our two key strategies, which are to be the lowest cost producer of thermal paper receipts and to be a solutions-based differentiated label supplier,” says Gunckel. “On the label front, we are looking to grow our business through both capital investments and potential acquisitions. We have identified projects to drive organic growth, and we have identified targets to drive growth through acquisition. We have set the stage for double digit growth for our label business and have strong positions in markets that are attractive to us.”