Investcorp to acquire SPGPrints Group
Investcorp is to acquire SPGPrints Group from funds managed by Bencis Capital Partners for an enterprise value of EUR240 million.
The deal is subject to clearance from the relevant competition authorities.
Established in 1947, SPGPrints is a provider of integrated solutions for rotary screen and digital printing for textiles and graphic applications, and a 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 EUR214 million, a large share of which was from emerging markets.
Carsten Hagenbucher, a principal in Investcorp's corporate investment team in London, says: "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."
DW Joustra, chief executive officer of SPGPrints, says: "We were impressed by Investcorp'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."
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