Keystone Capital recently exited Atlas Die, a manufacturer of steel rule and rotary dies for the packaging and folding carton industries. The company was acquired by Auxo Investment Partners on August 21.
Headquartered in Elkhart, Indiana, Atlas pioneered the use of lasers in die production and has a broad product offering targeted at various converting industries, such as paperboard, labels, business forms, flexible circuits, greeting cards, and gaskets.
Atlas was originally acquired by Keystone and Atlas management in January 2003. During the course of its 14-year investment horizon, Keystone led the acquisition of several strategic add-ons for Atlas, including Southeastern Die (2004) and Bernal (2013).
“Atlas is a great example of Keystone’s long-term investment philosophy,” commented David Greer, Managing Director of Keystone Capital. “We enjoyed our time with Ken Smott and the Atlas team, but we know that the business is well-positioned for the future under new ownership.”
