Bell and Howell spins off software division
06/24/2014 1:01 PM
06/24/2014 1:03 PM
Bell and Howell, the Durham-based producer of mail equipment for businesses, has spun off its BCC Software unit and retired its outstanding debt.
The spin-off of the business, announced Monday, won’t affect Bell and Howell’s 250 workers in Durham, said Karen Morris, vice president of marketing and communications.
BCC, which provides postal software and data marketing services and has about 75 employees, will continue to be based in Rochester, N.Y.
“We operated pretty much as an independent entity prior to the spin-off,” said Christopher G. Lien, BCC’s president. He will continue to head the newly independent business.
Philadelphia private equity firm Versa Capital Management, which acquired Bell and Howell in 2011, now also owns a controlling interest in both BCC and Bell and Howell.
In conjunction with the spin-off, Versa Capital paid off Bell and Howell’s outstanding debt. The debt amount wasn’t disclosed.
Bell and Howell is the No. 1 producer of high-speed mail-sorting equipment and also makes automated parcel-handling equipment. It has more than 1,000 employees company-wide after the spin-off.
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