Vector Capital has sold its portfolio company Gerber Technology to American Industrial Partners. Vector Capital acquired Gerber Technology through a $283 million take-private transaction in August 2011.
Gerber’s products include computer aided design (CAD) software for pattern design and grading, product lifecycle management (PLM) software for product portfolio management, and automated systems for material preparation and production. The company’s customers – totaling more 78,000 – are active in the aerospace, construction, furniture, fashion & apparel, transportation, technical textiles, packaging, wind energy, and sign & graphics industries. Gerber is led by CEO Michael Elia and is headquartered northeast of Hartford in Tolland, CT (www.gerbertechnology.com).
“With the support of Vector, we have invested to broaden our product offerings and expand our global reach to provide customers with automation solutions that reduce their time and expense to market. Vector has been a great partner in transforming Gerber into a world-class leader in automation solutions,” said Mr. Elia.
Vector Capital invests in spinouts, buyouts and recapitalizations of private or public technology businesses. The firm is based in San Francisco (www.vectorcapital.com).
“Gerber is a great example of Vector’s long history of identifying strong, innovative businesses and partnering with management to grow and transform them in attractive niche markets,” said Aalok Jain, a Principal at Vector Capital. “We are proud of what Gerber has accomplished under the leadership of Mike Elia and wish American Industrial Partners and the company continued success.”
American Industrial Partners makes equity and debt investments in North American-headquartered industrial companies that have revenues from $100 million to $750 million. Transaction values are typically less than $500 million. The firm was founded in 1989 and is headquartered in New York (www.americanindustrial.com).
Robert W. Baird & Co. (www.baird.com) was the financial advisor to Gerber Technology and Vector Capital.
© 2016 Private Equity Professional • 9-1-16
