Press peripherals company Baldwin Technology has bought colour automation developer Web Printing Controls, its first acquisition under the ownership of Forsyth Capital .
Baldwin chief executive and Forsyth co-founder Kyle Chapman says WPC was “an ideal opportunity” to expand its product offerings: “WPC’s highly-regarded brand of products complementary to Baldwin’s offerings, exceptional team members, and consistent history of superior product development make it a perfect first add-on acquisition for Baldwin and Forsyth Capital,” he says.
He believes this transaction will allow the company and its team members to focus on long-term growth and value creation as a division of a stable, global industry leader. “By leveraging WPC’s engineering and manufacturing expertise, this transaction will be material to Baldwin’s US operations and will have a positive impact throughout our divisions across the globe.”
Forsyth Capital purchased Baldwin in March last year and has focused on driving value with strategic operational expertise offered by Barry-Wehmiller, a diversified global supplier of manufacturing technology and services, which helped to launch Forsyth Capital in 2009. The company says it will play an active role in WPC and its integration with Baldwin.
WPC president Herman Gnuechtel will continue to lead the company as a Baldwin product line division, alongside . Others include cleaning, spray dampening, and UV/IR dryers.
Baldwin chief commercial officer Peter Hultberg says Baldwin’s global sales and service platform will allow WPC to tap into new markets and serve customers “who may have been beyond its scope historically”.
“We look forward to achieving significant growth, both in WPC’s core print market as well as within new applications outside of print.”
In the past six months, Forsyth Capital has completed three add-on acquisitions. In addition to Baldwin’s purchase of WPC – effective January 17 – medical device process automation and testing equipment company Machine Solutions acquired Vante, and Engle Martin & Associates, a national provider of commercial property and casualty loss adjusting and claims management services, acquired PT&C Forensic Consulting Services.
Headquartered in Fairfield, Illinois, WPC designs and makes real-time closed loop automation equipment, primarily for commercial, newspaper and packaging print, including Closed Loop Colour Plus (top). It retained Equity Partners last July to find it a partner, investor or buyer.