Global private equity firm OpenGate Capital has acquired Kongsberg Precision Cutting Systems (Kongsberg) from Esko.
Kongsberg is a manufacturer of digital cutting systems, a global developer of integrated software and hardware solutions for the packaging, label, and wide format sectors. Terms of the acquisition were not disclosed.
Established in 1965, Kongsberg is a specialist in providing high speed, clean, precision cutting for packaging, signage, and display purposes with operational facilities in Belgium, Czech Republic, and Norway.
OpenGate Capital’s Founder and Chief Executive Officer Andrew Nikou says: “With the heightened focus on digitisation in the industrial sector, Kongsberg is well positioned to develop new operational efficiencies and innovative solutions to drive organic growth. This is an exciting time in Kongsberg’s evolution, and we are looking forward to collaborating together in the years ahead.”
OpenGate intends to leverage the firm’s OGx platform to accelerate Kongsberg’s growth. Launched in 2018, the firm’s proprietary OGx platform is an operational capability for fostering digital transformation. OGx combines continuous innovation with strategic partnerships to fulfil a vision of driving commercial excellence, operational growth and, ultimately investment performance. As industrial companies are rapidly adopting technology as a driver of growth, OpenGate is fast becoming a leader in the development of digital transformation applications for businesses within the lower-to-middle market.
The acquisition of Kongsberg highlights OpenGate Capital’s longstanding history of investing across the European region since 2007, as well as the firm’s continued focus on identifying global opportunities within the industrial sector. Kongsberg is the eighth platform investment and fifth corporate carve-out completed in OpenGate’s second fund.
