American Industrial Partners has closed its buy of Goss International from Shanghai Electric Corp. No financial terms were disclosed. Based in Durham, New Hampshire, Goss is a maker of web offset printing presses and finishing systems.
NEW YORK, Sept. 21, 2015 /PRNewswire/ — American Industrial Partners (“AIP”), a middle-market private equity firm focused on acquiring and improving North American-headquartered industrial businesses, completed the acquisition of Goss International and its subsidiaries (“Goss” or the “Company”) from Shanghai Electric Corporation. The transaction closed on September 17, 2015.
Goss, founded in 1885, is the leading global manufacturer of web offset printing presses and finishing systems for newspaper, magazine, packaging, catalog, and other commercial applications. Additionally, the Company is a leading provider of auxiliary printing equipment including splicers, pasters and dryers through its Contiweb division. Goss, with approximately 950 employees, is headquartered in Durham, New Hampshire and has major manufacturing centers in North America and Europe, as well as a global sales and support network.
“American Industrial Partners is a like-minded and forward-thinking organization. We are excited to leverage their industrial, operational, and financial expertise to support our culture of innovation and customer collaboration,” said Rick Nichols, CEO of Goss. “In partnership with AIP, we look forward to building on our market leading position and executing a strategic growth plan focused on providing our highly-valued customer base with the highest-quality portfolio of innovative products and aftermarket parts, services and enhancements.”
AIP has a long history of successfully buying industrial businesses and partnering with management to drive growth. “Goss is differentiated by its printing process knowledge, engineering expertise, high-tech industrial manufacturing capabilities and ability to execute and support large-scale capital equipment projects,” said Rick Hoffman of AIP.
“Working alongside an exceptional management team at Goss, we look forward to executing identified growth initiatives and driving operational efficiencies at the Company to further differentiate Goss from its competitors,” added Sparsh Bhargava of AIP.
About American Industrial Partners
American Industrial Partners (“AIP”) is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The Firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 50 transactions and is currently managing more than $1.1 billion in equity capital. AIP invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of $100 million to $1 billion. For more information about American Industrial Partners, contact Ben DeRosa, Partner at 212-627-2360, extension 200 or Matt Rainwater, Partner at 212-627-2360, extension 219.