Versa Capital Completes Two Successful Divestitures From Its Investment in Bell and Howell

PHILADELPHIA--()--Versa Capital Management, LLC (“Versa”) announced today that it has completed the sale of BCC Software, LLC (“BCC”) to Thompson Street Capital Partners.

BCC, based in Rochester, NY, is a leading provider of postal software and data marketing solutions to direct mail owners, marketers and printers. BCC’s solutions are used by its customers to process more than 30 billion pieces of mail each year. Versa acquired BCC as part of its acquisition of Bell and Howell, LLC (“Bell and Howell” or “the Company”) and later spun it out into a separately capitalized business.

In addition, Bell and Howell completed the sale on August 1st, 2017, of its Sorting equipment division to Fluence Automation, a newly formed company established by Sorting Division management and a third-party investment group.

These two divestitures position Bell and Howell to focus on growing its larger core mechanatronic services, mail inserting and vision systems businesses, while providing substantial capital to the debt-free Company to support growth initiatives as well as a further return of capital to its owners. Affiliates of Versa, along with co-investor Access Value Investors, remain the owners of Bell and Howell, which is based in Durham, NC.

We are very pleased to continue monetizing our investment in Bell and Howell through these transactions,” said Gregory Segall, Chairman of Bell and Howell, and CEO of controlling shareholder Versa Capital Management, LLC. “These divestitures enable us to return additional capital to our investors, while benefiting BCC’s and Bell and Howell’s customers and employees. Bell and Howell remains debt-free and exceptionally well positioned to execute on its core services and technologies platforms.”

Mr. Segall continued: “We also would like to thank BCC President Christopher Lien for his many contributions. We wish him and the team at BCC well as they embark on this exciting new chapter in BCC’s history.”

BCC was represented in its sale to Thompson Street Capital Partners by Lincoln International. Bell and Howell was represented in the Fluence transaction by Headwaters MB. Morgan, Lewis & Bockius LLP advised Versa on both transactions.

About Versa Capital Management, LLC

Based in Philadelphia, Versa Capital Management, LLC is a private equity investment firm with more than $1.4 billion of assets under management focused on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. Versa has a diverse portfolio of North American businesses including Allen-Vanguard International, Avenue Stores, BridgeStreet Global, Polartec, SynCardia Systems, and Silver Airways. More information can be found at Versa.com.

Contacts

Media
Abernathy MacGregor
Rivian Bell, 213.630.6550
rlb@abmac.com
or
Chuck Dohrenwend, 212.371.5999
cod@abmac.com