Barry-Wehmiller to aquire W+D GmbH and POEM GmbH from Körber AG10/26/2015
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).