Matthews International acquires Frost Converting Systems
Matthews International Corporation (Pittsburgh, Pennsylvania) has announced the signing of a definitive purchase agreement to acquire Frost Converting Systems, Inc. FROST, headquartered in Burlington, North Carolina, is a global leader in the design and manufacture of high performance rotary technical tools for embossing, punching and cutting cardboard and other web materials. With long-term profitable synergies such as industry expertise, corporate culture and complementary capabilities, the acquisition is expected to benefit both companies and their customers, partners and employees. FROST will be integrated into the SAUERESSIG UNGRICHT business unit, part of the SGK Brand Solutions segment, which supports its customers in the development, activation and implementation of new products and brands.
"With Matthews, we have the right partner for the future," says Robert Frost, managing director of FROST Converting Systems. "The companies of SAUERESSIG and Matthews are well known to us and we greatly appreciate their technologies and people. We are pleased to be able to further develop our own strengths with their support and to actively tackle the international Surfaces market together."
FROST will also integrate two new product lines of high-performance punching and cutting tools that complement Matthews' current portfolio of gravure and embossing cylinders as well as calenders and winders.
With this acquisition, SAUERESSIG UNGRICHT is the first company to enter the North American market. In future, in addition to successfully establishing and consolidating the brand, the focus will be on the constantly growing markets of the tobacco, flooring and automotive industries as well as on renewable energies. The company is supported by the existing packaging and tobacco business of SAUERESSIG GmbH in Milwaukee, Wisconsin.
"Until now, SAUERESSIG UNGRICHT's activities have been limited to Europe," explains Greg Babe, chief technology officer, Matthews International. "With the acquisition of FROST Converting Systems, we are opening up a variety of new opportunities in the North American market and will be able to better serve our customers worldwide with new products and bundled expertise."FROST Converting Systems, Inc. was founded in 2004 by Robert and Carla Frost as a supplier of rotary tools for board converters in North America. A short time later, the company expanded its product range to include punching and cutting tools and the reconditioning of punching dies. With over 50 employees, FROST now serves global brand owners and converters in over 20 countries worldwide. The acquisition underscores Matthews' commitment to innovation and international growth.