Shanghai Electric has sold the web offset manufacturer Goss International and its subsidiaries to American Industrial Partners (AIP). The AIP 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.
AIP has previously owned Day International and Mark Andy, and currently owns Presstek. It has over a billion dollars of equity capital and is said to be an operationally-oriented private equity firm with a track record of successful investments.
Rick Nichols, CEO of Goss International, commented: “Goss is looking forward to the next phase of its journey under new ownership. AIP is a like-minded, forward-thinking organization that will continue to support our culture of innovation and customer collaboration. Our previous owners, SEC, will now refocus on their core business interests.”