FOR IMMEDIATE RELEASE
Versa Capital Management Completes Successful Sale of Bell and Howell
PHILADELPHIA, PA – December 4, 2018 – Versa Capital Management, LLC (“Versa”) announced today the successful closing of the sale of Bell and Howell, LLC (“Bell and Howell” or the “Company”) to Boston-based WestView Capital Partners (“WestView”). Founded in 1907 and based in Durham, NC, Bell and Howell today is a leading national provider of technology- enabled solutions focused on enhancing communications and e-commerce experiences.
Versa, along with co-investor Access Value Investors, acquired Bell and Howell in 2011, and this sale is the culmination of the successful repositioning and realization of the investment which included two previous division divestitures in 2017 (BCC Software and Fluence Automation).
Versa worked closely with Bell and Howell’s management to lead a significant and value- creating transformation of the Company’s business over the last seven years. Versa supported management’s right-sizing and repositioning of the Company, transforming its legacy business of supplying high-volume production mailing systems and services, into a highly profitable and growing business focused on providing technology and mechatronic service solutions for business-to-consumer communications and commerce.
“We are very pleased to see our investment in Bell and Howell reach its successful conclusion through this multi-year strategic repositioning, performance improvement and asset divestiture program,” said Gregory Segall, Versa’s CEO. “All three sales have enabled Versa to provide a significant return for our investors, while providing each of the divested business’s customers and employees new ownership to continue their growth. We wish WestView only future success.”
Mr. Segall continued: “We would also like to thank the Bell and Howell team including President Larry Blue and CFO Arthur Bergens for their many contributions, as well as Vice Chairman and former CEO Ramesh Ratan, who retired from the Company upon closing of the transaction. We also extend our appreciation to all of Bell and Howell as they embark on this next chapter.”
Added Mr. Ratan, “Our partnership with Versa has been an unqualified pleasure and success.”
Bell and Howell was represented by Capstone Headwaters and Morgan Lewis & Bockius LLP.
About Versa Capital Management, LLC
Versa Capital Management, LLC is a Philadelphia-based private equity firm with $1.25 billion of committed capital under management. Versa is focused on control investments in special situations involving middle market companies and their management teams in a diverse array of industries where value and performance growth can be achieved through enhanced strategic, operational and financial management. For more information, please visit www.Versa.com.
About Bell and Howell:
Founded in 1907, Bell and Howell is focused on improving customer experience by providing advanced technologies in high-growth markets. Leveraging a rich history and expertise in mechatronics and workflow efficiency, the Company delivers comprehensive solutions in retail click-and-collect, factory intelligence, consumer packaging automation, and production mail. The Company is one of the largest and most sophisticated service organizations in the world, with more than 800 service engineers, 24/7/365 customer service and technical support centers, as well as advanced remote monitoring and diagnostic capabilities. For more information, please visit www.bellhowell.net.
Media Contacts:
Abernathy MacGregor
Chuck Dohrenwend, cod@abmac.com, 212-371-5999 JP Letourneau, jpl@abmac.com , 212-371-5999