Kodak Alaris bought by Kingswood Capital Management
Kodak Alaris announced the acquisition by Kingswood Capital Management:
Kingswood’s investment follows strong growth and performance by Kodak Alaris
ROCHESTER, N.Y.--(BUSINESS WIRE)--Kodak Alaris announced today that Kingswood Capital Management, LP ("Kingswood") has acquired the company from the United Kingdom Pension Protection Fund (“PPF”). Kingswood is a Los Angeles-based private equity firm focused on buyouts of middle-market businesses and has significant experience in driving value for consumer and industrial services businesses.
Kodak Alaris continues the Kodak legacy of excellence in photography and imaging services through its two business units, Kodak Moments and Kodak Alaris Business Unit. Kodak Moments is a leading global provider of photo products and services to retailers, consumers, and entertainment properties. Kodak Alaris Business Unit is one of the largest global providers of data capture and processing solutions through its award-winning software, document scanners, and services. Kodak Alaris serves customers in more than 100 countries around the world with major locations in the US, UK, France, Germany, Mexico, and Australia.
In a joint statement, Nicki Zongrone, President of Kodak Moments and John Blake, President of Kodak Alaris Business Unit, said, “The investment by Kingswood Capital is a clear endorsement of the enduring value of our offerings and a testament to our team’s hard work. We are delighted to have secured the backing of new owners who share our vision for the future of our business. We look forward to starting this new chapter guided by Kingswood’s robust operational expertise.” Similarly, the PPF expressed its satisfaction in having reached an outcome beneficial for all parties, including the employees and stakeholders of Kodak Alaris.
“At Kingswood, our goal is to help companies reach their full potential by providing capital, bolstering its operations, and identifying avenues to achieve growth,” said Alex Wolf, Managing Partner of Kingswood. “We are excited to help continue Kodak Alaris’ strong recent performance and momentum.”
“We are thrilled to partner with the Kodak Moments and Kodak Alaris Business Unit management teams and global employee base,” said Andrew Kovach, Managing Director at Kingswood. “Both businesses have an outstanding reputation and heritage as leaders in their respective photography and imaging fields, and it is an honor to work with two companies held in such esteem.”
Lincoln International and Eversheds Sutherland served as Kodak Alaris’ advisors and Kirkland and Ellis, LLP served as legal advisor to Kingswood on the transaction.
Kodak Alaris apparently sold their paper and chemicals business to a Chinese corporation
Rumors: Kodak Alaris (including film business) is up for sale