Versa Capital Management has completed the sale of Bell and Howell to Boston-based WestView Capital Partners (WestView).
Founded in 1907 and based in Durham, NC, Bell and Howell is a provider of technology-enabled solutions focused on enhancing communications and e-commerce experiences.
Versa, along with co-investor Access Value Investors, acquired Bell and Howell in 2011, and this sale is the culmination of the successful repositioning and realisation of the investment which included two previous division divestitures in 2017 (BCC Software and Fluence Automation).
Versa worked closely with Bell and Howell’s management to lead a significant and value-creating transformation of the Company’s business over the last seven years. Versa supported management’s right-sizing and repositioning of the Company, transforming its legacy business of supplying high-volume production mailing systems and services, into a highly profitable and growing business focused on providing technology and mechatronic service solutions for business-to-consumer communications and commerce.
“We are very pleased to see our investment in Bell and Howell reach its successful conclusion through this multi-year strategic repositioning, performance improvement and asset divestiture program,” says Gregory Segall, Versa’s CEO. “All three sales have enabled Versa to provide a significant return for our investors, while providing each of the divested business’s customers and employees new ownership to continue their growth. We wish WestView only future success.”
Segall says: “We would also like to thank the Bell and Howell team including President Larry Blue and CFO Arthur Bergens for their many contributions, as well as Vice Chairman and former CEO Ramesh Ratan, who retired from the Company upon closing of the transaction. We also extend our appreciation to all of Bell and Howell as they embark on this next chapter. Our partnership with Versa has been an unqualified pleasure and success.”
Bell and Howell was represented by Capstone Headwaters and Morgan Lewis & Bockius LLP.
