Investcorp, a global provider and manager of alternative investment products, has acquired SPGPrints Group BV for a value of €240 million.
The acquisition will be from funds managed by Bencis Capital Partners, which is the largest shareholder of Xeikon. Closing of the transaction is expected following clearance from the relevant competition authorities.
Carsten Hagenbucher, principal in Investcorp’s corporate investment team, said, ‘We have followed SPGPrints for a long time and were attracted by its differentiated, global rotary screen business, its innovative digital inks activities, attractive precision metals offering and entrepreneurial management team. We’re excited to now have the opportunity to partner with management as we seek to help accelerate the Company’s growth, both organically and through appropriate add-on acquisitions, and to drive continued international expansion.
‘There are many parallels to other portfolio companies in which we have invested and we look forward to applying such knowledge to SPGPrints, particularly with respect to digital inks.’
Mr DW Joustra, chief executive officer of SPGPrints, added, ‘We were impressed by Invescorp’s long track record of working with the management teams of its portfolio companies to help them expand into new markets on an international scale. With a truly global presence, we believe that Investcorp is a complementary partner for SPGPrints and one that will provide us with the solid capital base required to help us realise the full growth potential of the business, including through add-on acquisitions.’
Established in 1947, SPGPrints is a global provider of integrated solutions for rotary screen and digital printing for textiles and graphic applications, and the leading manufacturer of precision metal components for a broad range of applications. Headquartered in Boxmeer, The Netherlands, the Company is represented in more than 100 countries worldwide and in 2013 generated revenue of €214 million, a large share of which was from emerging markets.
The transaction is Investcorp’s fifth successful acquisition in twelve months following its agreement to acquire Tyrrells (a premium manufacturer of hand cooked potato and vegetable crisps), Paper Source (a premier US paperie and online retailer), Namet (the leading Turkish producer of processed meat products) and Totes (a leading global provider of umbrellas, cold weather and footwear products).
