American Industrial Partners has completed its acquisition of Goss International from Shanghai Electric Corporation.
Goss International is a manufacturer of web offset printing presses and finishing systems for newspaper, magazine, packaging, and catalogs. The company also provides auxiliary printing equipment including splicers, pasters and dryers through its Contiweb division. Goss was founded in 1885 and has approximately 950 employees. The company is headquartered near Portsmouth in Durham, NH (www.gossinternational.com).
“Working alongside the 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,” said Sparsh Bhargava, an AIP partner.
American Industrial Partners (AIP) invests in North American headquartered industrial companies with sales ranging from $100 million to $500 million and EBITDA up to $70 million. Transaction values are typically less than $500 million. The firm was founded in 1989 and is currently managing more than $1.1 billion in equity capital. AIP is based in New York (www.americanindustrial.com).
“American Industrial Partners is a like-minded and forward-thinking organization. In partnership with them we are looking forward to building on our market leading position and executing a growth plan focused on providing our customers with the highest-quality portfolio of products and aftermarket parts, services and enhancements,” said Rick Nichols, CEO of Goss.
The seller of Goss is Shanghai Electric (HK:2727), a multinational power generation and electrical equipment manufacturing company headquartered in Shanghai (www.shanghai-electric.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-22-15
