Berwind Acquires Maxcess

Bertram Capital has sold its web-handling equipment maker Maxcess International to Berwind Corporation, a family office based in Philadelphia.

Maxcess is a designer and manufacturer of industrial rolls, converting components, and specialized machinery for web handling and converting applications. The company is headquartered in Oklahoma City, OK (www.maxcessintl.com).

The Maxcess platform was formed by Bertram through the acquisitions of Neenah, WI-based Webex in December 2012; Oklahoma City, OK-based Maxcess International in January 2014; Cleveland, OH-based Fives North America Guiding in February 2015; Appleton, WI-based Valley Roller in August 2015; Wauconda, IL-based Menges Roller in November 2017; and Edgerton, WI-based Componex Corporation in March 2018.

“Bertram supported our growth with talent, ideas, resources and capital every step of the way,” said Maxcess CEO Greg Jehlik. “They encouraged us to confidently pursue our global expansion strategy and to seek game-changing acquisitions that transformed Maxcess into a powerful industrial technology platform. Trust and close collaboration were the constant themes of our very rewarding partnership with Bertram, and we cannot thank them enough for their years of support and hard work.”

“The sale of Maxcess is a prime example of Bertram’s ability to drive and successfully implement our “High 5” investment strategy. Through selective and accretive acquisitions and execution of a well-defined value creation plan, Bertram built a powerful industry leader,” said Jeff Drazan, Managing Partner of Bertram Capital. To drive growth and create value in its portfolio companies, Bertram uses an investment strategy called “High 5” which focuses on five core operating principles – sales and marketing improvement, management support, supply chain optimization, technology optimization, and add-on acquisitions.

Bertram invests in middle-market business services, consumer, industrial and manufacturing companies that have revenues from $25 million to $250 million and EBITDA of $5 million to $30 million. The firm is headquartered south of San Francisco in San Mateo, CA (www.bertramcapital.com).

“The closing of the Maxcess transaction represents the culmination of a tremendous partnership with an excellent management team, led by Greg Jehlik, and the successful transformation of the company into a highly strategic global platform,” said Kevin Yamashita, Partner and Head of Industrials at Bertram Capital. “The combined efforts of the Maxcess and Bertram teams solidified the company’s global market leadership position, accelerated its growth, and significantly expanded its core addressable market. As the industry’s one-stop shop for customers’ web-handling needs, Maxcess is well-positioned for continued growth.”

Berwind Corporation, the buyer of Maxcess, is a family-owned investment management company.  Berwind targets middle market companies with transaction values of $200 million to $900 million across a range of industries. The company is based in Philadelphia, PA (www.berwind.com).

Robert W. Baird (www.rwbaird.com) was the financial advisor to Bertram Capital and Maxcess. The Baird transaction team was led by managing directors Joel Cohen and Trisha Renner.

© 2018 Private Equity Professional | July 9, 2018

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