Denver, CO (September 2, 2016) - Headwaters MB advised WestView Capital Partners II, L.P. and its partnering shareholders on the sale of Graphic Controls Holdings, Inc. (“Graphic Controls” or the “Company”), a leading manufacturer of consumable products within the medical, gaming and industrials sectors, to Nissha Printing Co., Ltd. (TSE: 7915), a Japanese manufacturer of industrial materials and devices. The addition of Graphic Controls’ Medical Products, Transactional Media and Industrial Products businesses complement Nissha’s diversified global business portfolio.

Graphic Controls is a multi-faceted business with four distinct business units: Vermed, Biomedical Innovations, Graphic Controls Transactional Media and Graphic Controls Industrial Products.  The Vermed and Biomedical Innovations divisions, along with its most recent acquisition of CEA Medical Manufacturing, have served as the growth engines of the Company, concentrating on consumable acute care medical products and medical surgical devices.  Graphic Controls has a diversified base of over 50,000 customers, including hospitals, healthcare providers, medical device manufacturers, industrial businesses, casinos and specialty marketing companies.  Graphic Controls is headquartered in Buffalo, NY with a global manufacturing and operational footprint that includes domestic facilities in Bellows Falls, VT, Sandpoint, ID and Colorado Springs, CO.  Internationally, the Company has ongoing operations in the Dominican Republic, Canada, the United Kingdom, Austria, Germany, Belgium and France.

Carlo A. von Schroeter, Managing Partner of WestView Capital, stated, “The Headwaters’ team was instrumental in closing this transaction, working tirelessly in the midst of challenging global market conditions.  Their unwavering commitment to client advocacy enabled us to achieve the desired result.”  

Sam Heleba, the current President & CEO of Graphic Controls, will continue in his current role after the acquisition and increase his involvement in Nissha’s medical related businesses on a global basis.  Mr. Heleba stated,  "I am thrilled about the strategic global partnership as a part of Nissha. Our shared vision on how we treat our customers and employees will establish a solid foundation for our shared desire for growth.”

Jack Maier, Head of Investment Banking at Headwaters added, “The Graphic Controls management team has done a stellar job stewarding this business through a period of strong expansion and diversification.  Sam Heleba and his team’s efforts have resulted in an industry-leading organization poised for growth as part of Nissha’s global platform.”


About Headwaters MB
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major organizations for its third consecutive year, Headwaters MB is headquartered in Denver, CO with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit

About Graphic Controls 
Graphic Controls, LLC designs, manufactures, supplies, and sells consumable products for medical, industrial and gaming markets worldwide.  In the medical products segment, Graphic Controls manufactures products such as patient monitoring and lab supplies, imaging media products, emergency medicine solutions, accessories, and cohesive tapes. It also offers life science products, which include syringe filters, membrane compatibility products, technical data solutions, and custom filter products. In the industrial segment the company produces charts and markers, including well logging chart papers, hydrogen-sulfide gas detectors, gas industry measurement solutions, charts and pens, and thermal transfer ribbons.  In the transactional media segment, the Company’s products, include TITO tickets, PVC cards, POS rolls, and event ticketing products. The company was founded in 1909, and is headquartered in Buffalo, New York, with sales and manufacturing operations in the USA, Canada, the Dominican Republic, Europe and the UK. For more information, visit

About WestView Capital Partners L.P.
WestView Capital Partners is a Boston-based private equity firm focused on growth-oriented companies. Westview has a long-standing and successful track record of partnering with exceptional entrepreneurs in both minority and majority recapitalizations, growth and buyout transactions. For more information, visit

About Nissha Printing Co., Ltd
Nissha Printing Co. Ltd. manufactures products in the industrial materials, devices, life innovation, and information and communication businesses in Japan and internationally. The company’s Industrial Materials segment offers in-mold decoration, metallized paper (used in labels and packaging), heat transfer foil, 3D Dye sublimation transfer solutions, and film products. Its Devices segment offers FineTouch touch panels used primarily in tablet devices, smart phones, and portable game consoles, as well as force sensors and wireless sensor network products. The company’s Life Innovation segment provides gas sensors and applied equipment. Nissaha’s Information and Communication segment offers commercial printing to assist businesses and organizations in information distribution and communication strategies. Nissha Printing was founded in 1929 and is headquartered in Kyoto, Japan. For more information, visit


Media Contact:
Jenna Luvin
Director of Marketing