Esko, a global developer of integrated software and hardware solutions for the packaging, labels, wide format digital printing industries has announced the proposed sale of its Kongsberg digital converting business to OpenGate Capital, subject to the required notification of and/or consultation with employee representatives under applicable local law.
The proposed sale includes the original research and development facilities in Kongsberg, Norway and the plant in Brno, Czech Republic. OpenGate Capital is a private equity firm headquartered in Los Angeles, California, with a European office in Paris and investments on five continents.
"Esko is focusing its efforts on providing end-to-end workflow solutions to our customers across the packaging supply chain: from brands to prepress to packaging printers and converters. With a sharpened focus, we can accelerate the delivery of integrated software and hardware technologies to help our customers digitise, automate and connect their operations to realise the growth and efficiencies that digital transformation offers. I am confident that Kongsberg will find a strong, strategic home at OpenGate and that the employees who transition with the business will grow in this new home," says Matthias Byström, president of Packaging and Colour Management, which includes Pantone, Esko, X-Rite and AVT.
Kongsberg was founded in Norway in 1965 and bought by Esko (then Barco) in 1998.
Nothing will change for Kongsberg's customers, as most of the staff currently working for them will also be there for them in the new, independent company. The partnerships with resellers will also be transferred to Kongsberg PCS, which means that customers who have purchased Kongsberg tables through resellers will not feel any changes either.
The new company Kongsberg PCS will be led by Stuart Fox, the future president of Kongsberg PCS. Stuart is one of many experienced digital finishing experts moving from Esko to join the Kongsberg PCS leadership team. "We are excited about this change and the new opportunities it opens up for Kongsberg to accelerate growth with new customers," Stuart said.
OpenGate Capital sees opportunities to expand Kongsberg's business beyond packaging applications, broaden its product portfolio and increase its range of tools and consumables.
www.esko.com