Creating one of the world's most diversified cutting machines businesses and leader in digital finishing technologies
Chicago, IL /PRNewswire/ - Livingstone is pleased to announce the sale of MultiCam, Inc. ("MultiCam" or the "Company"), a portfolio company of Rosewood Private Investments, to Kongsberg Precision Cutting Systems ("Kongsberg PCS"), a portfolio company of OpenGate Capital ("OpenGate"). Terms of the deal were not disclosed.
Founded in 1989 and based in Dallas, Texas, MultiCam is an industry-leading global supplier of innovative automated cutting solutions and related parts, services, and consumables. MultiCam's global installed base of over 14,000 machines is comprised of router, digital finishing, plasma, waterjet, and laser machines. The Company's broad products portfolio serves a wide range of industries, including aerospace, signage, cabinet making, and automotive.
"MultiCam sought a partner that would continue our strategic vision to become the global leader in automated cutting technologies. Kongsberg and OpenGate demonstrated their interest, fit, and strategy early in our process. We're thrilled to partner with their team going forward," stated David Morse, the President of MultiCam. "Livingstone demonstrated a unique understanding of the business and our global market, enabling us to run a targeted global process and leading to an optimal outcome for both Rosewood and the MultiCam team. We're thrilled with the outcome and look forward to the future."
Kongsberg PCS is one of the leading providers of high-speed, precision cutting systems for packaging, signage, and display purposes, with facilities in Belgium, Czech Republic, and Norway serving Europe, the Americas, and Asia. The acquisition of MultiCam, including its operations in the U.S. and sales offices in Canada and Germany, expands Kongsberg PCS's market reach and customer base across North America and Europe and creates one of the world's most diversified providers of CNC cutting machines.
"Dave and the MultiCam team have grown an outstanding platform in the automated cutting technologies industry. The combination with Kongsberg leverages world-class brands and market-leading technologies while expanding geographies and channels," stated Andrew Isgrig, Partner at Livingstone. "This new scale player will be exciting to watch as they continue their growth path together."
MultiCam is Livingstone's 237th transaction completed since 2018 and the 87th industrial transaction completed globally in the same timeframe. It is another example of our success in the industrial technology sector, following the recent sales of Lesman Instruments to Kele, a portfolio company of The Stephens Group, and missile defense and rocket specialist Beranek to J&E Precision Tool, an LFM Capital portfolio company.
Livingstone worked alongside Foley & Lardner LLP, which served as legal counsel, and BKD LLP, which provided accounting services to MultiCam throughout the transaction.
About Livingstone Partners
Livingstone is an international mid-market M&A and debt advisory firm with offices in Beijing, Chicago, Düsseldorf, London, Los Angeles, Madrid, and Stockholm. We have deep industry expertise, and extensive global coverage, with dedicated teams across our offices serving the Business & Technology Services, Consumer, Healthcare, and Industrial segments and close an average of 50+ transactions annually. To learn more about Livingstone, visit the website.