CoBe Capital acquires the Printing Systems Division from Staples

CoBe Capital, a global private investment firm focused on operation of noncore and underperforming business units, announced it has acquired the Staples Printing Systems Division (PSD) from Staples. Terms of the transaction were not disclosed, and the division will be renamed in the near future. Management and business names of the companies will not change. Vicente Tur will remain Managing Director of Hartmann and Wouter van Dijk remains President of PSD.

[Redacción] Headquartered in Amsterdam, The Netherlands, PSD has a history of more than 150 years in providing complete printing solutions to commercial and industrial printers and packaging and label printers, resulting in established brands and leading market share across active European markets. Each market is served through a local subsidiary, including subsidiaries based in Belgium (Plantin), Greece (BTI-Hellas), Italy (Macchingraf and Auxillia), the Netherlands (Tetterode) and Spain (Hartmann). PSD provides a full suite of print services and software solutions, including equipment, maintenance and workflow applications, and is well known for representing Heidelberg, Polar, Kodak, 3M, HP, Adobe,
Agfa and Canon.

Recently, the division also launched a special concept for 3D printing, digital services, inkjet printing, new technology solutions and entry into adjacent segments expected to drive growth. In total, PSD employs nearly 500 people and generates approximately €225 million in annual revenue.

CoBe Capital’s operational focus and long-term business growth objectives led Staples to choose CoBe Capital as a strategic partner for the business. CoBe Capital now has businesses with operations in France, Germany, Austria, Slovenia, Belgium, Greece, Italy, the Netherlands and Spain, in addition to its satellite offices in: Paris, France; Cologne, Germany and Madrid, Spain.

Wouter van Dijk, President of PSD commented, ‘When we learned about CoBe Capital and its strategy and vision, we knew that it fitted perfectly with our own strategy and that of many of our customers. The fact that they hold investments for the long term is a strong benefit. It enables us to further extend our search for new possibilities and markets for both our customers and our own companies.’

Neal Cohen, CoBe Capital’s Founder and Managing Director, stated, ‘We look forward to working closely with management and elevating PSD by leveraging our operational know how.’

Dr. Henning Walf, CoBe Capital’s Managing Director for Northern Europe, stated, ‘We worked very hard with management, Staples and advisors to craft a transaction that addressed many complexities. We are certain that our operations teams will be great value to PSD.’

Dr. Walf and Dr. Knuth Schmidt will work closely with the existing management team at PSD to strengthen the company’s operational and financial fundamentals, as well as drive expansion across Europe and into other markets around the world.

About Printing Systems Division

PSD is a leading provider of printing solutions to commercial and industrial printers and packaging and label printers in Europe. With a tradition spanning over 150 years, the business has a strong presence in Western European markets, and physical presence in Benelux, Spain, Italy and Greece. PSD is an official business partner of Heidelberg since 1927. Previously owned by Staples, PSD has worldwide annual revenue of €225 million and employs nearly 500 people.

About CoBe Capital

CoBe Capital, a global private investment firm with a permanent capital base, specializes in the acquisition and operation of non-core and underperforming business units in the Americas and Europe from leading global corporations. CoBe Capital owns and operates a diversified portfolio of companies and strives to achieve long-term growth based on lean management and continuous improvement business philosophies. Established by Neal Cohen and headquartered in New York, CoBe Capital has satellite offices in Germany, France and Spain.

Heidelberg Spain, S.L.U.

SECTIONS: Suministros para envase plegable, Suministros para impresión offset, Suministros para impresión digital, Suministros para la manipulación de papel y cartón, Suministros para preimpresión 08940 CORNELLA DE LLOBREGAT, España More information