Davis-Standard, LLC, is being bought by Gamut Capital Management, L.P., a New York-based middle-market private equity firm.
Gamut technically is buying Davis-Standard from ONCAP, another middle-market private equity firm. Davis-Standard is a supplier of extrusion and converting systems and related aftermarket products and services for the rigid packaging, flexible packaging, and infrastructure end-markets with an installed base of approximately $7.5 billion of equipment globally, according to a news release announcing the deal.
Financial terms of the deal, which is expected to close before 2022, were not disclosed.
Davis-Standard was founded in 1848 and is headquartered in Pawcatuck, Connecticut. It has more than 1,400 employees worldwide and a network of independent sales agents and suppliers in nearly every country, the company says.
Gamut Capital Management manages $1.5 billion in assets and was founded in 2015.