Barry-Wehmiller to aquire W+D GmbH and POEM GmbH from Körber AG
The parties anticipate closing of the transaction to take place end of December 2015 after fulfillment of all closing conditions. Upon completion of the transaction, W+D, a recognized leader in integrated mail, folded tissue and hygiene solutions will continue its strategic mission to bring leading engineered solutions to its customers.
W+D stands to benefit from Barry-Wehmiller’s strategic and operational resources as well as its ongoing commitment to the mailing, tissue and hygiene industry sectors. W+D will operate as an independent business unit within Barry-Wehmiller’s Converting Solutions platform alongside Paper Converting Machine Company (PCMC).
W+D joins Barry-Wehmiller’s family of almost 80 companies as part of an organic and acquisition growth strategy that, since 1987, has propelled the company from a $20 million U.S.-based supplier to a $2+ billion global supplier of diversified industrial solutions.
“We are proud to carry forward the W+D legacy and truly excited to partner with the great people of W+D to serve mailing solutions and tissue companies around the world,” said Tim Sullivan, Barry-Wehmiller Group President. “W+D has established itself as a meaningful player in the global markets in which it operates and has benefitted greatly from the guidance of Körber AG. We intend to build upon W+D’s solid foundation in partnership with the company’s existing leadership and its 359 associates worldwide.”
“Barry-Wehmiller’s commitment to purpose-driven growth and people-centric values, along with our considerable financial strength and, very importantly, our interest in the mailing solutions sector, will allow for continued growth and investment in W+D and its team members worldwide,” said Bob Chapman, Chairman and CEO of Barry-Wehmiller. “Likewise, Barry-Wehmiller will benefit from the significant technology and operational expertise that W+D offers.”
“Körber is pleased to have reached an agreement with a long-term oriented shareholder for W+D. The ownership of Barry-Wehmiller will allow W+D to continue and strengthen its strategic development,” underlined Körber CFO Stephan Seifert.
“We are looking forward to joining Barry-Wehmiller and enhancing our long-term potential as a company while continuing our outstanding customer service approach,” said Frank Eichhorn, Managing Director of W+D. Upon completion of the transaction, W+D will continue to serve its customers from Neuwied and Löhne, Germany and Lenexa, Kansas (USA).