EFI Walks the Digital Fashion Runway - July 2015 M&A Activity
Private equity firm American Industrial Partners is investing once again in the printing equipment industry, this time acquiring the venerable US-based web offset press manufacturer Goss International, which has been operating under the ownership of the Shanghai Electric Corporation. Goss presses are ubiquitous in the newspaper industry and also include the Sunday line of commercial presses acquired from Heidelberg back in 2004. The fund’s portfolio currently includes Presstek, another US-based company that offers digitally imaged plates and imagers for offset presses, as well as a line of offset presses using its plate technology. An earlier investment in Mark Andy, manufacturer of flexo presses, was sold to the management team in a leveraged buyout in August 2014.
Japan Pulp & Paper acquired the remaining 49% shares it did not already own of Gould Paper, a New York-based distributor of printing papers in the US and western Europe. The age of family-owned printing paper distributors is drawing to a close - this deal follows the two acquisitions of regional distributors earlier this year by Central National-Gottesman, another global paper distributor.
BW Paper Systems, formed last year when privately-owned Barry Wehmiller consolidated its paper processing companies in conjunction with a simultaneous acquisition of three other companies, is again in the market, this time acquiring the paper processing equipment of bankrupt German company Bielomatik Leuze. Bielomatik is probably best known in the commercial printing market for its sheeting equipment sold by Heidelberg under the CutStar brand. Upon completion of the deal, BW Paper Systems will have global revenues of $400 million, producing several brands of machinery that cut, count, wrap, corrugate, die cut, glue and otherwise process paper products.