RICHMOND, VA – On July 1, 2016, Cornerstone Capital Holdings acquired IR Engraving (“IR”) from Standex Corporation (NYSE:SXI).IR Engraving is a world-leading manufacturer of engraved rolls and plates, gravure rolls and custom machinery for a variety of industrial and commercial applications.
IR is led by its President and CEO Matt Pursel who originally joined Standex International in 2001 and rose to an executive finance position before taking over IR in early 2016.He will continue in his role under Cornerstone and plans to expand the business while striving for exceptional levels of quality and service.
“IR has been in business for over 70 years, and you can find textured materials virtually everywhere that have been made with one of our engraving rolls,” Pursel said.“Our customers enjoy doing business with us, and they trust us to make their materials stand out from their competition.IR’s goal is therefore to build on our reputation and capitalize on the numerous opportunities that exist in the market for our products.”
This acquisition is Cornerstone’s fourth corporate divestiture purchase and greatly diversifies the industries served by its portfolio.
Cornerstone Capital Holdings is a diversified holding company comprised of leading manufacturing and industrial service businesses.Cornerstone companies serve the aerospace, defense, space and various industrial markets from ten locations throughout the United States.Founded in 2000, Cornerstone has grown both organically and through multiple, targeted acquisitions.