Gerber Sells Ophthalmic Division
Gerber Scientific Inc., the South Windsor, Conn.–based parent company of Gerber Technology, plans to reduce debt and focus its efforts on its apparel and industrial divisions after selling its ophthalmic lens processing business, Gerber Coburn, to Colburn Technologies Inc. for $21 million.
The deal is expected to be finalized by the end of the year.
The decision to sell the unit came after reviewing the company’s portfolio of businesses, said Gerber Scientific Chief Executive Officer Marc Giles in a statement. “This sale will allow us to further reduce our debt and better positions us to invest in our core apparel and industrial segment,” he said. “This segment is one where we will actively pursue growth, both organically and through acquisitions.”
Gerber Scientific operated three businesses: Gerber Scientific Products, which develops and manufactures computerized sign-making and specialty graphics systems, software, materials and accessories; Spandex, which supplies products for the sign-making and display industries; and Gerber Technology. Based in Tolland, Conn., Gerber Technology produces equipment and software solutions for the apparel industry.—Alison A. Nieder
