X-Rite is the global leader in color science and technology. The company, which includes color industry leader Pantone, develops and sells hardware and software for measuring, formulating, rendering and matching color. Tinicum initially purchased X-Rite common stock on the open market before partnering with two other private equity firms in October 2008 to recapitalize the company as part of a deleveraging transaction. In October 2009, Tinicum purchased some of X-Rite’s second lien debt from debt holders and exchanged it for newly issued preferred stock and warrants. Danaher Corporation (NYSE: DHR) acquired X-Rite in May 2012.