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In 1994, DataCard Corporation, a $350 million global manufacturer of photo ID, embossing and encoding systems made the strategic decision to divest its Addressograph Division. Addressograph’s primary product was pressure sensitive credit card imprinters. The Division had been declining due in large part to competition from more advanced magnetic technologies.
After a somewhat protracted negotiation process, the Addressograph management team and Datacard corporate staff agreed on transaction value and terms. Jeff Moore and his partners invested with management to acquire the Company from DataCard. The new company was reborn as NewBold Corporation.
In less than a year, the Company increased earnings by more than 50%, primarily through engineering efficiencies. In less than two years, the Company teamed with Stonewood Capital Management, a family investment group, to assist with future growth. Stonewood Capital ultimately acquired 55% of the Company. The transaction yielded a substantial gain for the management team and their investors, while leaving the management team in place to continue to lead the Company.
Today, NewBold is a successful diversified manufacturer of imprinters, embossers, plastic cards and thermal printers. The Company also formed Total Systems Integration, and serves major retailers for all POS hardware systems and service needs. The Company’s manufacturing facilities and headquarters remain in Rocky Mount, Virginia.
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