UNION PARK ANNOUNCES ACQUISITION OF CMC-KUHNKE
Boston, MA – December 10, 2014. Union Park Capital, a Boston-based private equity firm focused exclusively on lower middle-market Industrial Technology investments, today announced the acquisition of CMC-KUHNKE GmbH (CMC), the world leader in quality control measurement instruments for food, beverage, and aerosol cans. CMC-KUHNKE will join Testing Machines Inc. (TMI) as an independent operating entity under Union Park’s Industrial Physics Holdings platform. CMC-KUHNKE will bring leadership in metal packaging and will complement TMI’s existing leadership positions in paper, corrugated, films, foils, adhesives, labels and other flexible packaging materials. Together the companies create a comprehensive portfolio of materials testing instrumentation focused on packaging quality assurance and control applications. Terms of the transaction were not disclosed.
“It’s been an exciting year,” notes Morgan Jones, Managing Partner of Union Park Capital. “In our inaugural year of the fund we have acquired two market leaders and have assembled an outstanding management team that will assist each company to achieve world-class manufacturing practices, leverage our growing scale, and drive better support to our customers. With the addition of CMC-KUHNKE, we gain a very talented team who will be highly valued players in the expanding portfolio. Between TMI and CMC, we have a very strong foundation for future acquisitions as well.”
“Working with the Union Park team was a pleasure. They were straightforward from start to finish and negotiated like sensible businessmen rather than heavy-handed Wall-Street types. Over the course of the transaction, we built a sincere trust,” says Heinz Grossjohann, former owner and CEO of CMC-KUHNKE. “They are keeping my existing team in place and giving them the tools and capital to drive the business forward. The result will be great for our customers, my loyal employees, and the brand reputation we’ve all worked so hard to build.”
Under its new ownership, Alex Grossjohann and Thomas Duve will assume the key leadership roles. “The CMC-KUHNKE family is excited about this transition,” says Alex, who succeeds Heinz Grossjohann as the General Manager of the company’s worldwide operations. “We will retain an important measure of autonomy, but at the same time gain direct benefit from an exceptionally strong team of operators and investors we can draw upon as needed to help us achieve our full potential. Our customers will see the same company and the same people they’ve always known, but we’ll have greater capability to serve their needs – that’s important to us.”
Karl Boone, CEO of Union Park’s Industrial Physics platform added, “CMC-KUHNKE is the gold standard at addressing customer needs. They have a long history of growth for good reason. Their name is synonymous with the highest levels of quality assurance in the metal packaging industry – they are known for innovation, service, and precision, exactly the qualities we care most about. The company and its leadership team will be an outstanding addition to our growing portfolio of materials testing instrumentation.”
About CMC-KUHNKE
Since 1971, CMC-KUHNKE has focused on providing the best can measurement equipment possible – often introducing ground breaking new products such as the world's first computerized double seam inspection system. Today the company provides state-of-the-art gauges, testers, and software to reduce the cost of can-making, and increase the efficiency of food canning and beverage bottling. To support its ever-growing international customer base CMC-KUHNKE has the widest network of agents in the industry. In addition to Head offices in Berlin and New York, CMC-KUHNKE has opened regional support offices in Mexico City, Mexico, and in Wisconsin, USA. For more information, visit www.cmc-kuhnke.com.
About Testing Machines, Inc.
Testing Machines, Inc. (TMI) was founded in 1931 and is headquartered in New Castle, DE. TMI manufactures and markets materials testing instruments for the paper, pulp, film, foil, ink, coatings, nonwoven and corrugated industries. TMI has a network of sales offices and agents throughout the US and globally in over 50 countries. Its market leading brands include TMI, Fibro, Messmer Bűchel, Lako Seal Testers, TMI Trading (Shanghai) Co., Ltd., and Adamel L’Homargy and it holds #1 market positions in the measurement of friction, thickness, adhesion, and package seal testing. For more information, visit www.testingmachines.com.
About Union Park Capital
Union Park Capital is a private equity firm solely focused on lower middle-market Industrial Technology companies. Union Park takes a long term perspective to help stakeholders build value over time, and drives value creation through profitably growing a business, not financial engineering. Its flexible partnership approach can provide investment for any combination of ownership liquidity, internal growth initiatives, or acquisitions. For more information, visit www.union-park.com.
“It’s been an exciting year,” notes Morgan Jones, Managing Partner of Union Park Capital. “In our inaugural year of the fund we have acquired two market leaders and have assembled an outstanding management team that will assist each company to achieve world-class manufacturing practices, leverage our growing scale, and drive better support to our customers. With the addition of CMC-KUHNKE, we gain a very talented team who will be highly valued players in the expanding portfolio. Between TMI and CMC, we have a very strong foundation for future acquisitions as well.”
“Working with the Union Park team was a pleasure. They were straightforward from start to finish and negotiated like sensible businessmen rather than heavy-handed Wall-Street types. Over the course of the transaction, we built a sincere trust,” says Heinz Grossjohann, former owner and CEO of CMC-KUHNKE. “They are keeping my existing team in place and giving them the tools and capital to drive the business forward. The result will be great for our customers, my loyal employees, and the brand reputation we’ve all worked so hard to build.”
Under its new ownership, Alex Grossjohann and Thomas Duve will assume the key leadership roles. “The CMC-KUHNKE family is excited about this transition,” says Alex, who succeeds Heinz Grossjohann as the General Manager of the company’s worldwide operations. “We will retain an important measure of autonomy, but at the same time gain direct benefit from an exceptionally strong team of operators and investors we can draw upon as needed to help us achieve our full potential. Our customers will see the same company and the same people they’ve always known, but we’ll have greater capability to serve their needs – that’s important to us.”
Karl Boone, CEO of Union Park’s Industrial Physics platform added, “CMC-KUHNKE is the gold standard at addressing customer needs. They have a long history of growth for good reason. Their name is synonymous with the highest levels of quality assurance in the metal packaging industry – they are known for innovation, service, and precision, exactly the qualities we care most about. The company and its leadership team will be an outstanding addition to our growing portfolio of materials testing instrumentation.”
About CMC-KUHNKE
Since 1971, CMC-KUHNKE has focused on providing the best can measurement equipment possible – often introducing ground breaking new products such as the world's first computerized double seam inspection system. Today the company provides state-of-the-art gauges, testers, and software to reduce the cost of can-making, and increase the efficiency of food canning and beverage bottling. To support its ever-growing international customer base CMC-KUHNKE has the widest network of agents in the industry. In addition to Head offices in Berlin and New York, CMC-KUHNKE has opened regional support offices in Mexico City, Mexico, and in Wisconsin, USA. For more information, visit www.cmc-kuhnke.com.
About Testing Machines, Inc.
Testing Machines, Inc. (TMI) was founded in 1931 and is headquartered in New Castle, DE. TMI manufactures and markets materials testing instruments for the paper, pulp, film, foil, ink, coatings, nonwoven and corrugated industries. TMI has a network of sales offices and agents throughout the US and globally in over 50 countries. Its market leading brands include TMI, Fibro, Messmer Bűchel, Lako Seal Testers, TMI Trading (Shanghai) Co., Ltd., and Adamel L’Homargy and it holds #1 market positions in the measurement of friction, thickness, adhesion, and package seal testing. For more information, visit www.testingmachines.com.
About Union Park Capital
Union Park Capital is a private equity firm solely focused on lower middle-market Industrial Technology companies. Union Park takes a long term perspective to help stakeholders build value over time, and drives value creation through profitably growing a business, not financial engineering. Its flexible partnership approach can provide investment for any combination of ownership liquidity, internal growth initiatives, or acquisitions. For more information, visit www.union-park.com.