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BELL & HOWELL MERGES WITH BOWE SYSTEC
Two leading companies combine to form significant North American player
(January 5, 2003) Glencoe Capital has merged its portfolio company, Bell & Howell Company, with the North American operations of Bowe Systec AG, announced David S. Evans, the firm's Chairman.
Under the agreement, which became effective on December 31, 2003, Bowe becomes a 50% partner in Bell & Howell with Glencoe Capital, which led the leveraged buyout of Bell & Howell in 2001.
The newly merged company, to be called Bowe Bell + Howell, will be a leading provider of production mail processing systems in North America.
Bell & Howell Company, headquartered in Lincolnwood, Illinois, is a leading North American provider of inserting, sorting, scanning, and postal automation systems. Bowe Systec AG, headquartered in Augsburg, Germany, is a leading global provider of paper management systems, including inserters, folders, and cutters.
"The combined businesses make available to customers the best of both companies' product lines," said George E. Marton, CEO of Bell & Howell. "And those products will be supported by the largest, most professional service organization serving the mailing industry in the US and Canada."
Dr. Claus Gerckens, Chairman and CEO of Bowe Systec, agreed. "This jointly owned company will apply its combined resources to developing state-of-the-art products and services that bring productivity improvements to mailers and postal authorities."
Glencoe oversaw the complete revitalization of Bell & Howell since acquiring it in 2001. "The company's strong performance has made this combination with Bowe possible," said Evans, who also becomes Chairman of the Board of Bowe Bell + Howell.
For more information, contact:
or
Clovis, Inc.
(312) 346-1700
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