OpenGate Capital will acquire the original research and development facility in Kongsberg, Norway as well as the production facility in Brno, Czech Republic
Belgium-based Esko has agreed to divest its Kongsberg Precision Cutting Systems, a digital cutting systems manufacturer, to a private equity firm OpenGate Capital.
Founded in 1965, Kongsberg is a digital cutting business which also includes high-speed cutting tables and related consumables and services.
Under the terms of the transaction, OpenGate Capital will acquire the original research and development facility in Kongsberg, Norway as well as the production facility in Brno, Czech Republic.
Headquartered in Los Angeles, California, the private equity firm is specialised in the acquisition and operation of businesses to create new value via operational improvements, innovation, and growth.
Esko, AVT, X-Rite and Pantone packaging and colour management president Mattias Byström said: “Esko is concentrating our 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.”
The acquisition is subject to any applicable information and/or consultation with employee representative bodies.
Upon completion of the deal, most of the employees currently working would continue to work as part of the new stand-alone business and expected to serve the customers as usual.
Esko noted that the reseller rights will also be transferred to the new Kongsberg PCS, where the customers who bought Kongsberg tables through resellers are also expected to benefit from uninterrupted services.
In June this year, Esko and AVT Inspection Systems have announced a business merger to extend packaging value chain connectivity.