Spandex buyout from Gerber Scientific
Gilde Buy Out Partners has bought out Spandex Group from Gerber Scientific with funds managed by Gilde as well as Spandex management. Terms of the transaction have not been disclosed. With the acquisition, Spandex becomes an independent company and management, with the support of Gilde, will continue to execute its growth strategy.
Headquartered in Ruemlang/Switzerland, Spandex has various operations across Europe and Australia and has been a business division of Gerber, an international supplier of automated manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries based in Tolland, Connecticut/USA. Gerber was recently acquired by Vector Capital, a US based private equity firm.
Rod Larson, CEO of Spandex, said: “We at Spandex are delighted to become associated with Gilde. Spandex, as a stand-alone enterprise, will be able to accelerate its growth and at the same time benefit from the support and resources which Gilde can bring to bear.”
“The acquisition of Spandex represents an exciting opportunity for Gilde to invest in one of the leading companies in a growing industry”, added Ralph Wyss, managing director of Gilde Buy Out Partners. “We will support Spandex’ growth strategy that is aimed at further expansion in the company’s existing markets as well as in new markets”, Wyss adds.