ESKO completes sale of its Kongsberg cutters
As announced in the last December, ESKO commenced a sale process with Open Gate Capital for the sale of its Norway-headquartered Kongsberg CAD cutting systems. The company has now announced the completion of the sale, and Kongsberg is no longer an ESKO company. OpenGate Capital is a private equity firm headquartered in Los Angeles, California, with a European office in Paris and investments on five continents. The new business, Kongsberg Precision Cutting Systems, now employs around 400 former ESKO employees operating from the business’ original research and development facility in Kongsberg, Norway, the production facility in Brno, Czech Republic, a new headquarters in Gent, Belgium as well as other global locations.
Esko, a global developer of integrated software and hardware solutions for the packaging and label sectors, has confirmed the successful closing of the sale of its Kongsberg digital finishing business to OpenGate Capital.Mattias Byström, President of Pantone, ESKO and X-Rite, said that the sale enables both ESKO and Kongsberg Precision Cutting Systems to develop their own strategic directions. Under the leadership of Stuart Fox, it has been sure that Kongsberg Precision Cutting has exciting times ahead.