Atlas Converting Equipment Ltd., based in Bedford, England has been sold by Bobst Group in a management buy-out (MBO) transaction. The new directors and shareholders of Atlas Converting Equipment are Stephen Darlington (chairman), Alan Johnson (managing director), Stan Braycotton (sales director), and Tom Walker (finance director). The existing Atlas management team will continue to manage and coordinate the company’s global operations.
The acquisition includes the dedicated Atlas Sales & Customer Service operations in both Charlotte, NC, USA, and Shanghai, China. Both parties agreed not to disclose information about the conditions of the transaction.
Atlas Converting Equipment, with its brands Atlas and Titan, supplies slitting and rewinding equipment to the film and flexible materials markets, and has an installed base in excess of 3,500 machines in more than 80 countries.
In a statement, Atlas management says, “Atlas and Titan have been at the forefront of the market for over 30 years, and it is our intention to continue the investment in technology and service for our customers now and in the future. With the support of our loyal workforce, we expect to build further on our success and strengthen our global market position.”