The AIP transaction is expected to close within the next 60 to 90 days.
According to Rick Nichols, CEO of Goss International, AIP, with its broad portfolio of investments proved to be the ideal choice for SEC. “Goss is looking forward to the next phase of its journey under the new ownership. AIP is a like-minded, forward-thinking organisation that will continue to support our culture of innovation and customer collaboration. Our previous owners, SEC, will now refocus on their core business interests,” Nichols said.
Nichols added, “SEC, since its acquisition of Goss in 2009, has been an excellent shareholder and business partner to Goss and they have set us up for success in the years ahead by selling their Goss interests to a highly qualified and committed buyer, AIP. We look forward to building a business for the future with our new owner.”
According to Nichols, AIP will uphold the Goss's current standards as a customer-focused, technology-driven market leader. “As a leading supplier of commercial web, newspaper and packaging offset printing presses, Goss is wholly committed to its valued, worldwide customer base and to the sale and support of its broad range of the industry’s most innovative products,” he said.
AIP, an operationally-oriented private equity firm has had a track record of successful investments including, past and current holdings in printing machinery manufacturers. AIP has previously owned Day International and Mark Andy, and Presstek is currently a part of its portfolio of companies.
In August 2014, AIP sold its holding in Mark Andy to an investment group formed by P J Desai, the former chief executive officer of Mark Andy and the then current management team.
SL Kulkarni Cyril Graphics (SLKCG) is the Indian representative of Goss International.