Davis-Standard acquires Gloucester Engineering

Two US extrusion machinery companies have joined forces with Davis-Standard having acquired blown film machine maker Gloucester Engineering from its owner Blue Wolf Capital. Terms of the deal were not disclosed.

Davis-Standard says the purchase of Gloucester will strengthen its blown film offering by adding experienced design and process engineering capabilities, a large installed base and greater aftermarket capabilities worldwide. Like Davis-Standard, Gloucester has been a respected brand name and innovator in film applications for more than 50 years.

“We’re excited about combining the strengths and market reach of Davis-Standard and Gloucester,” said Jim Murphy, Davis-Standard President/CEO. “Gloucester has always been a strong company, so bringing their technology and engineering expertise to our operation is significant for our combined customer base. It also supports our ongoing goal of continuing to provide equipment and service That improves process efficiency and profitability. We welcome their team to Davis-Standard.”

Carl Johnson, Vice President of Sales, Gloucester Engineering commented: “The alignment of our companies leverages our sizeable base of installed equipment with the industry’s best resources for sales, engineering and service,” he said. “Both companies have a reputation for strong people and strong brands. This is going to be a game changer in the global blown film market. We look forward to delivering the very best the industry has to offer.”

Gloucester has been through rough times and went through a restructuring in 2010. Blue Wolf Capital bought the firm in 2011, as well as Indian firm Kabra Extrusion that formed a joint venture, Kabra Gloucester, in 2009, and later in 2011, bought a 15% ownership stake in Gloucester to manufacture lower cost blown film lines in India.

Meanwhile, Davis-Standard has been owned by private equity firm Oncap, part of Canadian firm Onex Corp since 2011.

Onex also has Germany-based KraussMaffei Group in its portfolio, and owned Husky Injection Molding Systems before it sold it to Berkshire Partners in 2011.