Morgenthaler Partners has acquired RotoMetrics, a Eureka, Mo.-based provider of precision rotary tooling and accessories for the converting and printing industries. No financial terms were disclosed, except that leverage was provided by Madison Capital Funding and John Hancock Life Insurance Company.
PRESS RELEASE
Morgenthaler Partners (www.morgenthaler.com/buyouts) announced today the acquisition of RotoMetrics (www.rotometrics.com), a leading, global provider of precision rotary tooling and accessories for the converting and printing industries.
RotoMetrics manufactures and distributes rotary dies and supporting products to converters of packaging and consumer products, such as labels, stickers, and folding cartons and other applications that require precision converting.
With production, sales and repair locations around the world, RotoMetrics has a strong global footprint in the $500 million market for worldwide precision rotary tooling. The company manufactures products in Missouri, Virginia, the United Kingdom and Australia. The company also operates six sales and repair facilities in Canada, France, Germany, Italy and the United States.
“RotoMetrics is an ideal platform for Morgenthaler,” said John Lutsi, a partner at Morgenthaler Partners. “The company has succeeded due to its commitment to providing best-in-class service and high quality precision products.”
For over 50 years, RotoMetrics has remained at the forefront of the industry by providing its loyal base of customers with accurate, dependable products supported by knowledgeable customer service and highly-skilled technical support teams.
“We are excited to partner with the RotoMetrics management team to grow the company organically and through add-on acquisitions,” said Daniel Farrar, a partner at Morgenthaler Partners. “We have identified several attractive growth initiatives to build upon the company's current momentum.” Daniel Farrar, John Lutsi and Joe Machado of Morgenthaler Partners will serve on the RotoMetrics board of directors.
About the Transaction
Financing was provided by Madison Capital Funding LLC and John Hancock Life Insurance Company, its affiliates and affiliate-managed funds. Stinson Morrison Hecker LLP served as the legal counsel for RotoMetrics and Baker Hostetler acted as the legal counsel for Morgenthaler Partners. Terms of the deal have not been disclosed.
About RotoMetrics
RotoMetrics, headquartered in Eureka, Missouri, is a worldwide leader in precision rotary tooling for the printing and converting industries. The company operates several facilities in the United States, as well as Australia, Canada, France, Germany, Italy and the United Kingdom.
About Morgenthaler Partners
Morgenthaler is a leading, national buyout and venture-capital firm with offices in Boston, MA; Boulder, CO; Cleveland, OH; Menlo Park, CA; and Princeton, NJ. The firm has approximately $2.5 billion under management and has funded more than 300 companies over its 39-year history. The firm's buyout group focuses on the middle market with transaction values between $25 – $150 million and EBITDA in excess of $5 million. It has two primary target investment areas: high-value manufacturing and business services. For more information on Morgenthaler's buyout group, please visit: www.morgenthaler.com/buyouts.
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