Management and Gilde Buy Out Partners acquire Spandex from Gerber Scientific, Inc.
Tolland, Zurich – Gilde Buy Out Partners ('Gilde') announces the acquisition of the Spandex Group ('Spandex') from Gerber Scientific, Inc. ('Gerber') by funds managed by Gilde as well as Spandex management. Terms of the transaction have not been disclosed.
Spandex is a leading supplier to the sign making and display industry. The company is specialized in marketing, sales, distribution and support of sign making and printing related systems and materials. Headquartered in Ruemlang/Switzerland, Spandex has various operations across Europe and Australia.
Spandex has been a business division of Gerber, an international supplier of automated manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries based in Tolland, Connecticut/USA. Gerber was recently acquired by Vector Capital, a US based private equity firm. With the acquisition, Spandex becomes an independent company and management, with the support of Gilde, will continue to execute its growth strategy.
Rod Larson, CEO of Spandex:
"We at Spandex are delighted to become associated with Gilde. Spandex, as a stand-alone enterprise, will be able to accelerate its growth and at the same time benefit from the support and resources which Gilde can bring to bear".
"The acquisition of Spandex represents an exciting opportunity for Gilde to invest in one of the leading companies in a growing industry", says Ralph Wyss, Managing Director of Gilde Buy Out Partners. "We will support Spandex' growth strategy that is aimed at further expansion in the company's existing markets as well as in new markets", Wyss adds.
Spandex is one of the world´s leading trade suppliers to the sign making and display industries. The company is specialized in marketing, sales, distribution and support of sign making equipment and materials, digital printing solutions as well as sign- and directory systems. Representing the leading brands in the industry, Spandex serves a vast number of customers that rely on Spandex' broad range of solutions, professional advice and service as well as customized solutions. For more information, please visit www.spandex.com.
Gilde Buy Out Partners
Gilde Buy Out Partners is a leading European private equity investor for mid-market transactions with operations in the Netherlands, Belgium, Germany, Switzerland and France. It manages funds in excess of EUR 2 billion and has majority shareholdings in, amongst others, Gamma Holding, Teleplan, Roompot, Hofmann Menü, Powerlines and Plukon Royale. For more information, please visit www.gilde.com.
Gerber Scientific, Inc. is a leading international supplier of sophisticated automated manufacturing systems for the sign making, specialty graphics, packaging, apparel and industrial industries. Headquartered in Tolland, Connecticut, the Company operates through Gerber Scientific Products and Gerber Technology. For more information about each, please visit www.gerbertechnology.com and www.gerberscientific.com.
Director Marketing Communications
Tel: +32 2 716 0255
Gilde Buy Out Partners
Director Investor Relations
Tel: + 31 30 219 2508
Gerber Scientific, Inc.
Chief Financial Officer
Tel: +1 860 870 2890