In the USA, Extrusion Dies Industries (EDI), supplier of flat extrusion and coating dies, has agreed to be acquired by Bertram Capital, a private equity firm based in San Mateo, California. The parties did not disclose the terms of the transaction, which is expected to close on or around December 31, 2010.
Bertram Capital will assume ownership of EDI from a group headed by four investors who engineered a management buyout of the company in 2003. In 2008, three of the investors—Timothy C Callahan, Christopher W Curtin, and Ronald J Kuhnen—assumed board member positions and turned over daily operations to an established management team headed by the fourth owner, John A Ulcej, who will remain in a leadership position after the change in ownership.
“The management team that has been key to EDI’s success in recent years will stay in place, as will our 240 employees in the U.S., Europe, and Asia,” Mr Ulcej said, adding: “EDI is now stronger than ever before in its 40-year history. Bertram Capital, with its extensive resources and commitment to helping profitable companies broaden their capabilities, will enable EDI to expand and diversify even more aggressively.”
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