The acquisition this month of Mark Andy by Morgenthaler Partners and Mark Andy’s management will not be apparent to the customers of the narrow web press manufacturer, according to company President and CEO Paul Brauss. “The transition of ownership will be transparent to the industry and the company’s customers,” says Brauss.
Mark Andy, headquartered in Chesterfield, MO, USA, was acquired September 15. Though the members of the management team sharing ownership were not made public, the following managers, including Brauss, remain in place: Mike Howard, VP finance & CFO; John Howard, VP engineering; Bill Thompson, VP manufacturing; Greg Palm, VP sales and marketing, and Adam Baer, VP customer support.
“Mark Andy is excited about our new ownership, Morgenthaler Partners,” says Brauss. “We’ve worked very hard in the areas of product development and customer support which has paid off immensely in sales and market position. Our strong position has attracted a solid financial supporter and partner. We look forward to continued growth supported by our new ownership.”
Morgenthaler Partners is a financial business holding company based in Cleveland, OH, USA and Boston, MA, USA. The firm has approximately $2.5 billion under management and has funded more than 250 companies over its 38-year history. Mark Andy had been owned by Dover Corporation since 1995. More information is available at www.morgenthaler.com/buyouts/default.asp.