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Private equity firm buys Webex

By: Bill Bregar

January 10, 2013

NEENAH, WIS. (Jan. 10, 12:40 p.m. ET) — Bertram Capital Management LLC — the California private equity firm that bought flat-die builder Extrusion Dies Industries LLC in 2010 and sold it less than two years later — has purchased Webex Inc., a Neenah-based supplier of precision rolls for web handling and film and sheet converting.

Bertram Capital made an equity investment and also provided subordinated debt to finance the deal, which was announced Jan. 9. It closed the day before Christmas. The seller was Rosemont, Ill.-based private equity firm Wynnchurch Capital Ltd., which had partnered with Paul Schulz to buy Webex in 2007.

Terms were not disclosed.

Webex designs and manufacturers a range of web products, including chill rolls, heating rolls, printing cylinders, coating and embossing rolls, and shaft idlers. Its markets include flexible packaging, paper, consumer products, food and beverage, aerospace, pharmaceutical and health care, alternative energy and general industry.

Bertram Capital, based in San Mateo, Calif., invests in middle-market companies, typically allocating $25 million to $100 million to each investment.

Last year, Bertram Capital sold EDI to Nordson Corp.