Fredericks Michael & Co. acted as exclusive financial advisor to Officine Meccaniche Giovanni Cerutti SpA, an Italy-based global manufacturer of rotogravure presses for publication, packaging and specialties printing, converting equipment, and flexographic presses for newspaper printing, on its sale of Zerand, the North American Cerutti Corporation.
Zerand is a Wisconsin-based manufacturer of high-speed platen and rotary die-cutting machinery for the print and converting industry. With over 90% market share, Zerand is a leader for platen die-cutters for the folding carton market. Today, hundreds of installations around the world demonstrate Zerand’s global leadership in web systems and solutions. The US generates most of the company’s sales, and Mexico is the second most important market, both for spare parts and retrofits of existing lines and new equipment.
“I am sure that the transaction completed today will allow Zerand to expand further. Barry-Wehmiller will further grow a business that Gruppo Cerutti has been able to strengthen significantly over the past 20 years, both technically and commercially. Business relations between Barry-Wehmiller and Gruppo Cerutti are excellent and will allow the future development of joint projects for the benefit of themselves and the market”, said Dr. Giancarlo Cerutti, Chairman and CEO of Gruppo Cerutti.
"We are delighted to share Barry-Wehmiller’s caring culture and welcome the Zerand team members who, thanks to Gruppo Cerutti’s leadership, bring significant product expertise and industry knowledge into BW Papersystems", said Mr. Bob Chapman, Chairman and CEO of Barry-Wehmiller. "We look forward to working together to create long-term value for all of our stakeholders, and we are thankful to Dr. Cerutti for entrusting us with the Zerand team members, who will benefit from Barry-Wehmiller’s unique, people-centric culture, financial strength and unwavering commitment to purpose-driven growth."
FM&Co.’s advisory services to Gruppo Cerutti included contacting and meeting with potential buyers as well as valuing, structuring, and negotiating the terms and conditions of the agreement with Barry-Wehmiller.
About Gruppo Cerutti
Gruppo Cerutti, based in Casale Monferrato, Italy, is a global manufacturer of rotogravure presses for publication, packaging and specialties printing, converting equipment, and flexographic presses for newspaper printing. With its production sites in Italy, one R&D center and one software well as a capillary network of service centres, Gruppo Cerutti is a worldwide-esteemed company, synonymous with quality and reliability. For more information, visit www.cerutti.it
About Zerand
Zerand, based in New Berlin, Wisconsin, is a leading manufacturer of high-speed platen and rotary die-cutting machinery for the print and converting industry. Zerand is a market leader for die-cutting lines in the folding-carton industry. The Zerand brand was established in 1962, but the company’s engineering expertise and tradition of customer support extend back to 1939. The company created the world’s first generation of web-fed die-cutters. Today, hundreds of installations around the world demonstrate Zerand’s global leadership in web systems and solutions. For more information, visit www.zerand.com
About Barry-Wehmiller
Barry-Wehmiller, based in St. Louis, Missouri, is a global supplier of manufacturing technology and services for a broad range of industries: packaging, paper converting, sheeting, corrugating, engineering and IT consulting. Barry-Wehmiller generates revenue of $2.4 billion through over 100 locations in 28 countries. Since 1987, Barry-Wehmiller has acquired 94 companies. For more information, visit www.barrywehmiller.com
