Posted on April 1, 2019 byNews
FOR IMMEDIATE RELEASE April 1, 2019
NewBold Corporation Acquires National Service Center from Illinois Tool Works (ITW).
ROCKY MOUNT VA – NewBold Corporation, an international provider of products and services enabling the implementation of identification and technology solutions, is pleased to announce its acquisition of National Service Center in Greenville, SC from Illinois Tool Works Inc.
National Service Center (NSC) was established in Greenville, SC in 1995 and specializes in the delivery of Point-of-Sale services to multi-unit retail and restaurant operators. NSC offers nationwide field repair, along with management and professional services for point-of-sale, digital signage, label printers, and a variety of other in-store IT technologies. NSC is the only national company focused exclusively on providing technology services to the multi-unit restaurant industry. NSC is a full-service solutions provider that offers customers in virtually every vertical market the ability to improve their efficiencies.
“We are extremely excited about this strategic acquisition for NewBold Corporation. The synergies between the two companies was a key factor in our decision to acquire National Service Center. With this acquisition, NewBold is able to broaden its current customer base and enter new growth verticals. We are looking forward to the integration of these two companies and are pleased to welcome the National Service Center Team to NewBold”, stated NewBold Corporation President and CEO Keith Howerin.
Kenn Moritz, President of Stonewood Capital Management, Inc., the Pittsburgh-based private equity firm which owns NewBold, stated that “We strongly believe in the direction that NewBold is taking with its acquisition of NSC. This business combination positions NewBold as a national leader in Point-of-Sale related services and allows for the scale and growth that we expect for our business.”
About NewBold Corporation: NewBold, founded in 1994 is a leading North American manufacturer of plastic cards, metal plate embossers, and card imprinters. Their NewBold Technologies division is a Managed Services Provider (MSP) specializing in Point-of-Sale systems and other in-store retail technologies. NewBold Technologies provides consulting, staging, deployment, training, maintenance, and operates a multilingual 24/7 call center and help desk.
About Stonewood Capital: Stonewood Capital Management, Inc. is a Pittsburgh-based private equity firm seeking investment opportunities primarily with manufacturing, assembly, or business service companies with revenues from $5 to $50 million. Stonewood Capital currently holds operating companies in five states generating annual revenues of $100 million.
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