Gimv and Bencis pinch Punch's Xeikon

The investors have acquired 65.68% of the firm for €110.31m, representing a 32% premium on the average closing price of Xeikon shares over the last six months. The firm listed on the Euronext Amsterdam in 2011.

Gimv has taken a 20% stake in the firm through its investment from the Gimv-XL fund.

As part of the deal, Punch will acquire all customer receivables – related to machines supplied by Xeikon that customers are yet to pay for in full – for a maximum amount of €6m.

The new owners intend to increase Xeikon's competitive position by following the current growth plan for the firm.

The transaction is expected to complete in September 2013.

Company
Founded in 1988 and headquartered in Eede, Xeikon provides imaging and printing solutions for the graphics industry. The company primarily develops, produces, markets and sells digital colour printing systems and related consumables for the short-run colour printing market.

The firm is based in the Netherlands, with manufacturing operations in Belgium and a global sales and services network.

Xeikon operates under two business lines: Digital Printing Solutions and Prepress Solutions.

People
Patrick Van Beneden is a partner at Gimv.

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