Shanghai Electric Corporation has entered into a definitive agreement to sell Goss to American Industrial Partners

Goss International has been sold to American Industrial Partners after its parent company, Shanghai Electric Corporation, entered into a definitive agreement to sell the company and its subsidiaries. The agreement forms part of a broader strategy to further strengthen Goss’ position as the world’s leading web offset printing press supplier.

Goss International has been sold to American Industrial Partners

American Industrial Partners is an operationally-oriented middle market private equity firm that makes control investments in industrial businesses based in North America serving domestic and global markets. Its current investment portfolio includes Presstek, Waterjet Holdings and Dynacast International. It has previously owned Mark Andy and Day International.

The transaction is subject to successfully achieving appropriate regulatory approvals and meeting certain closing conditions. It is expected to close within the next 60 to 90 days. 

Rick Nichols, Goss CEO, said: ‘As a leading supplier of commercial web, newspaper and packaging offset printing presses, Goss is wholly committed to its valued, worldwide customer base and to the sale and support of its broad range of the industry’s most innovative products. Goss is looking forward to the next phase of its journey under new ownership.

‘American Industrial Partners is a like-minded, forward-thinking organization that will continue to support our culture of innovation and customer collaboration.’

Shanghai Electric Corporation acquired Goss in 2009, and post-sale will refocus on its core business interests. ‘Shanghai Electric Corporation has been an excellent shareholder and business partner to Goss and has set us up for success in the years ahead by selling its Goss interests to a highly qualified and committed buyer, American Industrial Partners,’ concluded Nichols. ‘We look forward to building a business for the future with our new owner.’

Read more about the offset press market in L&L issue 4, 2015, including thoughts from Goss and other suppliers on web offset for flexible package printing