Esko plans to sell-off its Kongsberg digital finishing business to US-based private equity firm OpenGate Capital.
The planned sale includes the original research and development facility in Kongsberg, Norway and the production facility in Brno, Czech Republic.
“Esko is concentrating efforts on delivering end-to-end workflow solutions for our customers across the packaging supply chain - from brands to premedia to packaging printers and converters. With a sharpened focus, we can accelerate our delivery of integrated software and hardware technologies to help our customers digitise, automate, and connect their operations so they can realise the growth and efficiency that digital transformation offers,” said Mattias Bystrom, president of packaging and colour management companies Pantone, Esko, X-Rite and AVT. “I am confident that OpenGate will be a strong, strategic home for Kongsberg, and that the employees who will transfer with the business will thrive in their new home.”
Kongsberg was founded in Norway in 1965, with Esko (then Barco) purchasing it in 1998. The new stand-alone Kongsberg PCS (Precision Cutting Systems) company will be led by Stuart Fox as president, who moves from Esko. “We are excited about this change and the new opportunities it brings for Kongsberg to accelerate growth with new customers,” he said.
Kongsberg reseller relationships will be transferred to the new stand-alone business, where OpenGate Capital sees opportunities beyond packaging applications, expanding the product offering and growing the tooling and consumables offering.
OpenGate Capital is a global private equity firm specialising in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France.