Fortis PE and Next Invest sell Arets to Toyo Ink for €10m

Toyo is a manufacturer of commercial printing inks, colour and media materials and graphic art supplies. It has headquarters in Tokyo and additional offices in other parts of Asia, the US and Europe, including an office in Brussels that opened in 1975.

Fortis acquired a 49.9% stake in Arets in 2007, while Next Invest bought the remaining 50.1% stake.

It is believed Fortis, the private equity branch of BNP Paribas Fortis, invested in Arets via its Fortis Private Equity Belgium NV fund.

Company
Arets was established in 1938 in Antwerp. The company manufactures and sells ultraviolet-cured inks and varnishes in more than 100 countries. It employs 85 staff and last year recorded a turnover of €48.6m, roughly equivalent to 11x EBIT.

People
Luc Van Doorsselaere is the CEO of Arets. Luc Weverbergh is the head of private equity at Fortis and was a representative of Fortis on the deal. Next Invest's representative was managing director Erwin De Keyser.

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• Topics
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• BNP Paribas
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• Trade sale