Esko has sold Kongsberg Precision Cutting Systems to OpenGate Capital
Headquartered in Ghent, Belgium, Kongsberg Precision Cutting Systems is a leading provider of state-of-the-art, digital cutting systems as well as related consumables and services. Targeting customers in short-run corrugated packaging, signage and display applications, Kongsberg is a strong brand recognized for offering the highest performance in terms of durability, reliability, speed and service levels.
Operating facilities in Belgium, Czech Republic and Norway, Kongsberg employs around 400 people. The transaction enables both Esko and Kongsberg to develop their own strategic directions.
Stuart Fox, Chief Executive Officer of Kongsberg, commented, “Throughout the process the Lincoln team worked tirelessly to ensure we kept to a short timeframe. The Kongsberg team is excited to be working with OpenGate Capital as our partner.”
Lincoln acted as the exclusive financial advisor to Esko. Lincoln organized an effective and competitive auction process focused on realizing an optimal outcome in the sale of Kongsberg. Terms of the agreement were not disclosed.
The knowledge and professionalism of the Lincoln team in carve-out situations and their understanding of the Kongsberg business ensured a great result for all parties.
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