Gimv sells Summa to Ergon

The company's management will also invest alongside Ergon.

Belgian publication De Tijd reported in May 2021 that Gimv was considering sale options for Summa, which the report said posted EBITDA of €10m and revenues of €40m.

Gimv acquired a majority stake in Summa in 2016, with the company's management taking a minority stake. The company posted 2015 revenues of €17.7m and said in a statement issued at the time that it intended to increase these by at least 50% by 2020.

Gimv said in a statement that Summa's turnover more than doubled during its investment period, adding that the GP supported the company with its expansion to the US in 2017, as well as the acquisition of UK-based CadCam Technology in 2018.

Ergon is currently deploying equity via Ergon Capital Partners IV, which held a final close in March 2019 on €580m. The fund deploys equity tickets of €25-75m, focusing on niche mid-market companies in the industrials, healthcare, retail, consumer, media, services and leisure sectors. Prior to Summa, the fund's latest investment was Germany-based dental chain Fair Doctors.

Ergon registered its fifth fund in May 2021, according to Unquote Data.

Company
Founded in 1973 and headquartered in Gistel, Summa produces digital cutting machines for use in digital printing of cardboard, stickers and textiles. Its portfolio includes roll cutters, and flatbed and laser cutting equipment. The company employs 150 people, compared with 52 when Gimv acquired the company in 2015. The company has additional sites in Nottingham, Boston and Singapore.

People
Gimv – Tom Van de Voorde (managing partner, head of Gimv Smart Industries).
Ergon Capital Partners – Pieter Lambrecht (partner).
Summa – Erwin Vandousselaere (CEO).

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