Just over a year after being split from Goss International, private equity firm American Industrial Partners has sold Contiweb to a new Dutch investor.
Founder and managing partner of H2 Equity Partners Gert Jan van der Hoeven says the firm sees "many attractive growth opportunities" for the company which makes splicers and web dryers. The deal is subject to "further advice and approvals".
New York-based American Industrial Partners remains a shareholder in manroland Goss web systems - with Lübeck-based Possehl Group - following last year's merger of Goss into manroland.
Established in 1978, Contiweb claims a global installed base of more than 3000, and has recently started making equipment for digital printing, flexible packaging and label printing markets. It is also manufacturer of the Thallo web-offset packaging press. It was split from Goss in August 2018, and recorded sales of 52 million Euros (A$84.5 million) last year.
van der Hoeven says H2 was impressed by the depth of the engineering capabilities, the culture of innovation and the customer-centric ethos at Contiweb chief executive Rutger Jansen says having come to know H2 in recent months, he is confident of a "strong cooperation evolving from their technical and strategic orientation" and track record in similar situations.
Pictured: A still from Contiweb's 2015 corporate video
You may not be getting all you can out of your browsing experience
and may be open to security risks!
Consider upgrading to the latest version of your browser or choose on below: