Esko to sell Kongsberg digital finishing business
Esko announced the planned sale of its Kongsberg digital finishing business to OpenGate Capital, subject to any applicable information and/or consultation with employee representative bodies under applicable local law.
The planned sale includes the original research and development facility in Kongsberg, Norway and the production facility in Brno, Czech Republic. Esko (then Barco) purchased Kongsberg in 1998, which was founded in Norway in 1965.
“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 digitize, automate, and connect their operations so they can realize the growth and efficiency that digital transformation offers. I am confident that OpenGate will be a strong, strategic home for Kongsberg, and that the employees who will transfer with the business will thrive in their new home,” said Mattias Byström, President of Packaging and Color Management Companies Pantone, Esko, X-Rite and AVT.
Customers with Kongsberg systems can expect business as usual, since most of the employees who currently serve them would continue to do so as part of the new stand-alone business. Reseller relationships would also be transferred to Kongsberg PCS.
The new Kongsberg PCS company would be led by Stuart Fox, who is moving from Esko to outfit the new leadership team.
OpenGate Capital is a private equity firm headquartered in California, with a European office in Paris and investments on five continents. OpenGate Capital sees opportunities for growing the Kongsberg business beyond packaging applications, expanding the product offering and growing the tooling and consumables offering.