Wide-format supplier Spandex bought from parent Gerber by private equity

Spandex will now be run independently with financial backing from European private equity fund Glide Buy Out Partners. It follows the takeover of Gerber by US private equity firm Vector Capital.

Spandex chief executive Rod Larson said: “We at Spandex are delighted to become associated with Gilde.

“Spandex, as a standalone enterprise, will be able to accelerate its growth and at the same time benefit from the support and resources that Gilde can bring to bear,” he added.

Ralph Wyss, managing director of Netherlands-based Gilde, added: “The acquisition of Spandex represents an exciting opportunity for Gilde to invest in one of the leading companies in a growing industry.

“We will support Spandex’ growth strategy that is aimed at further expansion in the company’s existing markets as well as in new markets.”

Spandex is a supplier to the sign making and display industries, with operations across 15 countries. It resells Epson and Mimaki equipment in Australia.

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