Esko plans to divest its Kongsberg digital finishing business. The developer of integrated software and hardware solutions for the packaging, labelling and large format printing industries announces that it is in the process of selling this business to OpenGate Capital, a Los Angeles-based private equity firm with European headquarters in Paris.
Founded in 1965, Kongsberg, which produces digital cutting and creasing tables, has been part of the Esko Group since 1998. The divestiture would involve the original Kongsberg research and development centre in Norway and the production site in Brno in the Czech Republic. "Most employees" would retain their position, says Esko in its press release, pointing out that the divestiture will therefore have no effect on Kongsberg customers.
With the divestiture of Kongsberg, Esko will refocus its activities on flow management solutions throughout the packaging supply chain. "With this more focused approach, we can accelerate the delivery of integrated software and hardware technologies to help our customers go digital, automate and connect their businesses to unleash the growth and efficiency that the digital transition enables" says Mattias Byström, president of the packaging and colour management division of the US conglomerate Danaher, which consists of Esko, Pantone, X-Rite and AVT.
The new company, Kongsberg PCS, would be headed by Stuart Fox, Esko's current director of digital finishing.
OpenGate Capital plans to expand Kongsberg's business beyond packaging applications and broaden its product, tool and consumable offerings.
