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NCR to sell Interactive Printer Solutions Division to Atlas Holdings

NCR Corporation is to sell its Interactive Printer Solutions (IPS) division to Atlas Holdings. Financial terms of the transaction, which is exoected to close in the second quarter of 2016, have not been disclosed.

NCR’s IPS division is a provider of innovative consumable products and solutions for transactions, logistics and business processes in the retail, financial, hospitality, e-commerce, warehousing, distribution and manufacturing industries. The division provides a comprehensive suite of solutions including stock and custom colour-printed paper receipt rolls, pressure-sensitive label solutions, impact inking and thermal transfer ribbons, as well as other transaction related consumable products.
 
Atlas Holdings LLC and its affiliates own and operate sixteen manufacturing and distribution companies, with approximately 20,000 associates and facilities in over 100 locations across the globe. Over the past sixteen years, Atlas has successfully partnered with numerous corporations to carve-out business divisions and form stand-alone companies that strengthen their workforces, increase revenues and enhance the communities of which they are a part.
 
“Over the past 10 years, we have been executing a successful business reinvention led by a vision, mission and strategy that remains focused on driving growth in software and services,” says NCR Chairman and CEO Bill Nuti. “While the consumables business has been an important part of NCR’s history, the decision to sell the IPS division is aligned with our long-term vision for how we can best position NCR for success now and in the future.”
 
“NCR’s Interactive Printer Solutions is the premier provider of products that help facilitate the world’s transactions, logistics and business processes,” says Andrew M Bursky, Managing Partner at Atlas Holdings LLC. “It is an iconic brand, known for its superior quality, innovation and customer service. This transaction combines that history and current market leadership with Atlas’ financial and human capital, and proven ability to grow global businesses.”
 
The transaction will include all dedicated assets of the IPS division, including all manufacturing facilities and strategically located IPS distribution centres worldwide, and the IPS employees. After the acquisition, IPS will operate as a stand-alone portfolio company of Atlas Holdings, and will continue to maintain a commercial relationship with NCR.
 
The transaction is subject to the receipt of certain regulatory approvals, satisfaction of customary closing conditions, and processes to be followed by NCR subsidiaries and Atlas in applicable jurisdictions, for example, to comply with local laws regarding employees and employee communications.
 
SunTrust Robinson Humphrey acted as exclusive financial advisor and Womble Carlyle Sandridge & Rice, LLP acted as lead legal counsel to NCR on the transaction. Jones Day acted as legal counsel to Atlas Holdings on the transaction.
 

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