Extrusion and coating die supplier EDI purchased by Bertram Capital
Published: December 22nd, 2010
Extrusion Dies Industries LLC's board has agreed to sell the maker of extrusion and coating dies to private equity firm Bertram Capital, marking the company's first ownership change since a 2003 management buyout. Seven years ago, Timothy C. Callahan, Christopher W. Curtin, Ronald J. Kuhnen, and John A. Ulcej engineered a buyout of the Chippewa Falls, WI company from U.S. Bank. In 2008, Callahan, Curtin, and Kuhnen assumed board positions and turned over daily operations to Ulcej and an established management team. Ulcej will remain at EDI in what's described as a leadership position after the change in ownership.
|Part of the company's 2003 management buyout, John Ulcej will stay on at extrusion and coating die manufacturer, EDI, following its sale to private equity firm Bertram Capital.|
EDI said the move will not affect the current management team or any of its 240 employees in the U.S., Europe, and Asia. Key managers Dennis S. Paradise, sales and marketing; Gary D. Oliver, technology; Gregory J. Raleigh, manufacturing; and Daniel D. Kelm, finance will all remain in place.
In the seven years following the management buyout, EDI expanded at home and overseas, acquiring two businesses and growing annual sales by more than 125%. "EDI is now stronger than ever before in its 40-year history," Ulcej said. EDI was founded in 1971 and now sells more than half of its dies in over 50 countries outside the U.S.
EDI's acquisitions included the 2007 purchase of slot-die manufacturer Liberty Coating Systems and the purchase of Quality Machine, which offers reworked blown-film dies and chrome-plated cooling and winding rolls. In addition to a technology center at its Wisconsin headquarters, EDI also added wholly-owned subsidiaries in Germany, EDI GmbH, and China, EDI Precision Dies (Shanghai) Co., Ltd., under the previous ownership regime.
Bertram Capital (San Mateo, CA) was founded in 2006 and currently has more than $850 million in capital under management. Existing portfolio companies include Author Solutions Inc., Genascis, One Distribution, Power Distribution Inc., Sanare, and TydenBrooks.