PHI Industrial exits Intimus

PHI Industrial acquired Intimus in October 2014 via its €50m fund PHI II and merged the business with the European operations of US-based corporation Pitney Bowes. Subsequently, the group acquired safe manufacturer Tecnoexpress from Velaltia in 2015 and Belgian safety products specialist Perfomatic in 2016.

The company plans to use the fresh capital provided by Kaizaharra Corporación to expand further internationally, and enlarge and improve its product offering.

Company
Headquartered in Markdorf, Germany, Intimus was established in 2014 by the merger between Germany-based Intimus, founded in 1965, and the operations of US corporation Pitney Bowes in Spain, Portugal, Austria, Netherlands, Belgium and Luxembourg. 

The company specialises in the design, manufacture and maintenance of information security equipment, such as document shredders, hard drive erasers, cash deposit safes, cash and coin processing machines, safes with flexible mechanical and electronic lock options, and mail processing automation systems.

Intimus employs 250 people, has a presence in 11 countries and sells its products in 60 countries worldwide. It generated EBITDA of €4m from revenues of €40m in 2017.

People
PHI Industrial – Alexander Wit (founding partner).
Intimus – Javier Ortiz de Zárate (CEO).
Kaizaharra Corporación Empresarial – Luis Izco (CEO).

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