Kirkbi A/S is to transfer the ownership and all packaging related activities of Esko-Graphics to Danish private equity company Axcel. The deal, for an undisclosed sum, is expected to close by the end of September. Kirkbi will retain ownership of Esko-Graphics' small format offset activities.
Esko-Graphics employs around 700 people worldwide. With headquarters in Gent, Belgium, it has R&D, manufacturing and other facilities in Belgium, Denmark, Germany, Norway, the US and the Czech Republic. The company claims to be the world leader in packaging pre-production workflow software, flexo computer-to-plate imaging devices, and sample making and short run production machines for the packaging and sign and display markets. Net revenues for 2005 are expected to exceed €110M, 12 per cent up on 2004.
Bent Pedersen, managing director of Kirkbi, states: "We believe that a private equity investment offers the best platform for further development. Axcel has the resources and the expertise to continue Esko-Graphics‚ growth and expansion."
Axcel managing partner Christian Frigast adds: "We have identified many attractive opportunities for Esko-Graphics, a recognized leader in an industry that more than ever is driven by globalization and consolidation. We will provide the support and the security required for a successful implementation of an ambitious development strategy."
Carsten Knudsen will become ceo of Esko-Graphics‚ from the time of closing.
| Contact |
| Axcel Tel: +45 333 66 999 Esko-Graphics Tel: +45 27 15 80 00 |
