Investcorp to buy Dutch firm in $327m deal
Manama, July 11, 2014
Bahrain-based Investcorp, an alternative investment manager, has signed an agreement to acquire Netherlands-based SPGPrints Group from funds managed by Bencis Capital Partners for an enterprise value of 240 million euros ($327million).
Closing of the transaction is expected following clearance from relevant competition authorities, said a report in the Gulf Daily News (GDN), our sister publication.
Established in 1947, SPGPrints is the leading global provider of integrated solutions for rotary screen and digital printing for textiles and graphic applications.
It is also 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.
In 2013, it generated revenue of $110m, a large share of which was from emerging markets.
"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," Investcorp Gulf Business president Mohammed Al Shroogi said.
"We're excited to now have the opportunity to partner with the 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," he added.
SPGPrints chief executive D W Joustra said the company was 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," he added.
The transaction is Investcorp's fifth successful acquisition in 12 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). - TradeArabia News Service