Capstone Announces Merger of F.L. Smithe Machine Co. and PCMC
Capstone Strategic, Inc., announced today that F. L. Smithe Machine Co., Inc. of Duncansville, PA has merged with Paper Converting Machine Company of Green Bay, WI, a leading provider of tissue converting, packaging, flexographic printing and nonwovens technology.
Washington, DC (PRWEB) October 9, 2009 - Capstone Strategic, Inc., a growth engineering firm providing external growth strategy and advisory services, announced today that F. L. Smithe Machine Co., Inc. of Duncansville, PA has merged with Paper Converting Machine Company of Green Bay, WI. PCMC is a leading provider of tissue converting, packaging, flexographic printing and nonwovens technology. Capstone advised F. L. Smithe in this transaction.
The combined company is a global leader providing a complete range of narrow, mid and wide web printing presses. The acquisition also greatly expands PCMC's product offerings and markets served by leveraging F.L. Smithe's expert position in envelope converting technology.
Commenting at the close, David Braun, CEO of Capstone said "With its strong leadership and superior technology, PCMC is the perfect home for F.L. Smithe and its Champion and Aquaflex brands. The combination of these two industry leaders creates an entity that will serve current and future customers with innovation and reliability."
F. L. Smithe Machine Co. specializes in the design and manufacture of high-performance printing and envelope converting equipment solutions. F.L. Smithe was founded in 1904 by Ferdinand L. Smithe in New York City. In 1966, under the leadership of Edgar A. Smithe, Jr., President and CEO of F. L. Smithe and grandson of the founder, the company moved to its present location in Duncansville, Pennsylvania. In 2004, the company purchased Aquaflex, a Montreal-based manufacturer of narrow web printing presses. Capstone advised F. L. Smithe on the Aquaflex transaction.
Paper Converting Machine Company (PCMC) is a global leader in tissue converting, packaging, flexographic printing and nonwovens technology, backed by 85 years experience in machine design, manufacturing, and service. With three major production centers in the United States, United Kingdom, and Italy and more than a thousand team members worldwide, PCMC provides its customers with a broad range of machinery for automated converting solutions for a variety of industries including tissue converting and packaging, flexographic printing and nonwovens. PCMC is a wholly-owned subsidiary of privately held Barry-Wehmiller Companies.
About Capstone
Capstone Strategic, Inc. provides middle-market consulting and advisory with an emphasis on external growth, specifically mergers and acquisitions. Capstone utilizes a proprietary process to provide exceptional service to clients across a broad range of industries, domestically and internationally. Capstone is headquartered in Washington, D.C. with a regional office in Seattle, Washington. Capstone specializes in advising privately held and family-owned companies with transactions or revenues in the range of $25-300 million in revenue.
For more information about Capstone and its growth strategy and advisory capabilities, please visit www.capstonestrategic.com. For timely commentary and insights into the M&A market, please visit the M&A Daily blog at mergersandacquisitionsdaily.com.
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