TAGS: Machinery
Gamut has signed a definitive agreement to acquire Davis-Standard and its affiliates from ONCAP, the middle-market private equity platform of Onex.
Products And Services for Packaging Sector
Davis-Standard is a supplier of extrusion and converting systems and related aftermarket products and services for the rigid packaging, flexible packaging and infrastructure end-markets with an installed base of approximately $7.5 billion of equipment globally.
“
We are excited to partner with the Gamut team during this next phase of Davis-Standard’s long history as a provider of highly engineered solutions to an extensive base of industry-leading customers. The resources Gamut brings to this investment will enable us to not only accelerate growth within our markets but also transform Davis-Standard into a leading, value-added global process solutions business,” said Jim Murphy, CEO of Davis-Standard. “
We achieved great growth and performance under ONCAP’s successful ownership and look forward to leveraging the strong foundation we built as we move into our next phase of growth.”
Jordan Zaken, founding partner of Gamut, said, “
We are very excited to continue to grow the company alongside the Davis-Standard management team. As a leading player in extrusion and converting technologies for the packaging and infrastructure sectors, Davis-Standard offers not only the opportunity to expand with customers in fast-growing end markets, but also to further extend its service offering to support its customers in the aftermarket. Gamut is excited to continue to invest in the business to bolster the comprehensive solutions Davis-Standard provides to its customers in the areas of efficiency, sustainability and automation technology.”
Financial terms of the transaction were not disclosed. The transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of this year.
Source: Gamut
