Investcorp buys Bencis’s SPGPrints for €240m

The firm had been tracking the company's progress for a while. Its plans for SPG include an acquisitive growth strategy and further international expansion.

The deal marks the fifth investment made by Investcorp in the last 12 months. The firm acquired a minority stake in Turkish meat company Namet Gida Saayi ve Ticareti in January, while in August last year it acquired Tyrrells Potato Crisps from Langholm Capital for £100m.

It has also acquired US paper business Paper Source, and Totes, a US fashion retailer specialising in cold weather products.

Earlier this week, Investcorp announced the appointment of four corporate investment advisory directors in Europe: Brendan Harris, Joan Julià Dinarès, Guy Leymarie and Philip Walters.

Previous investment
Bencis acquired a 60% stake in SPG in July 2007 via its €375m Bencis Buyout Fund III. The €102m deal included a debt package provided by ABN Amro, according to unquote" data. At the time of the acquisition, SPG generated €186m in turnover and employed 1,350 staff.

Company
SPG posted a €214m turnover last year. The company was previously known as Stork Prints; it changed its name to SPGPrints last October.

SPG manufactures complete graphics printing and textile systems, including rotary screens and digital printing systems. It supplies lacquers and other finishings, inks and digital engraving, as well as precision metal components.

The company was founded in 1947. It is headquartered in Boxmeer with additional offices in the UK, Austria, Turkey, Brazil, China, Mexico, India, Pakistan and the US.

People
Dick Joustra is the CEO of SPG. Carsten Hagenbucher is a principal in Investcorp's London corporate investment team. Bencis partner Menno van der Meer and investment director Dick Moeke managed the firm's investment in SPG.

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