Kongsberg begins life as standalone business
Tuesday, April 6, 2021
Kongsberg has started a new chapter as a standalone company following its acquisition from Esko last year by private equity firm OpenGate Capital.
The digital finishing manufacturer is now known as Kongsberg Precision Cutting Systems (Kongsberg PCS) as of today (6 April).
Kongsberg PCS said the acquisition will enable it to innovate and expand into new markets.
“This is truly an exciting day for everyone at the company,” said Kongsberg PCS president Stuart Fox, one of the digital finishing specialists who has moved from Esko to form the Kongsberg PCS leadership team.
The acquisition includes the original research and development facility in Kongsberg, Norway, and the production facility in Brno, Czech Republic.
“This is an opportunity for the Kongsberg team to realise its ambitions, and to explore new markets,” said Fox.
“We will be developing strategic initiatives to further innovate our digital finishing hardware and software solutions, as well as growing the Kongsberg brand beyond the packaging industry.”
He added: “Whilst we are excited about the future, we are also committed to ensuring we honour our heritage. We have an incredible team of 400 people, many of whom have been a part of the Kongsberg family for more than 30 years.
“Sales, service, consumables and spare parts will all continue as usual. Customers will receive the same level of service during the transition, and they can look forward to business as usual throughout 2021."
Kongsberg was founded in Norway in 1965 and was purchased by Esko (then Barco) in 1998. In December 2020, Esko agreed the sale of Kongsberg to OpenGate Capital.
Headquartered in Los Angeles, California and with a European office in Paris and investments on five continents, OpenGate Capital has made a number of other print and packaging related acquisitions since it was established in 2005.
These include Fusion Paperboard, a manufacturer of recycled paper products, speciality tapes manufacturer Duraco, high-quality speciality papers manufacturer Kotkamills, and white top testliner paper producer NorPaper.