SFW Capital-backed Filtec hires new president and CEO

Filtec, a portfolio company of SFW Capital Partners, has named David Storey as president and CEO. Storey will succeed Steve Calhoun who will remain as a member of the board. Previously, Storey worked at Royston where he served as CEO. Based in Torrance, Calif., Filtec is a provider of in-line inspection instrumentation and systems for the beverage and packaging sectors.

PRESS RELEASE

September 15, 2014, Torrance, CA – filtec, and its immediate parent IDC, a leading provider of advanced in-line inspection instrumentation and systems for the global beverage and packaging industries, is pleased to announce that David Storey will succeed Steve Calhoun as President and Chief Executive Officer of the Company. Mr. Calhoun will continue as a Board Member of the Company and will provide guidance and support as part of the transition.

“I am delighted that David has agreed to become the President and CEO of filtec. His recruitment combined with the strategic investment in filtec last year by SFW Capital Partners provides our customers with even great certainty of filtec’s long term commitment to the global beverage industry. I believe filtec is now best positioned with the support, resources, tools and leadership to be the most vibrant and innovative inspection business in our industry. I look forward to seeing the company build on over 50 years of respect, reputation and integrity and remain the partner of choice for all our customers.” said Steve Calhoun.

David Storey is an accomplished business leader with strong global experience and significant history of building partnerships with beverage brand owners and major retailers around the world. For many years, David was a senior executive with the beverage dispense business, Cornelius (formerly part of the UK based IMI plc.) where he was responsible for business operations throughout the Americas and Asia Pacific. More recently David was CEO of the long-standing retail fixture business, Royston.

“I am excited to join the management team at filtec, and look forward to leading the Company into its next decade of partnership and growth. Under Steve’s leadership, and with the strong legacy of his father, Fred, filtec has developed a portfolio of trusted, proven inspection products. The filtec brand is respected around the world, and our long-term partnerships with beverage brand owners speak to the respect and commitment that filtec delivers. With such a strong foundation, and a deeply committed group of employees around the world, I look forward to increasing our investment in service, support and innovative new products to build upon the Company’s strategy and positive momentum,” said David Storey.

About “filtec”
“filtec” and its immediate parent IDC is a leading provider of advanced in-line inspection instrumentation and systems for the global beverage and packaging industries. The Company founded in 1958 and based in Torrance, Calif., offers a full line of instrumentation and related software and services for inspection of empty and full containers on glass and PET bottling, canning and other packaging lines. filtec’s unique starwheel technology, X-Ray and Vision-based inspection solutions, innovative pressure leak detector and high-speed laser coder offer unparalleled ease of use, reliability and durability. filtec serves leading beverage companies around the globe and offers parts and service locally in thirty countries worldwide. For more information, please visit www.filtec.com

About SFW Capital Partners
SFW Capital Partners is the leading investor in analytical tools and related services companies, including providers of instrumentation, software, information and business services. With 20+ years of knowledge of the relevant business models, technology, competitive dynamics and service requirements they have a unique ability to support management teams in growing their companies and building value. For more information, please visit www.sfwcap.com