CoBe Capital completes sale of Printing Systems Group to Heidelberg (Xetra: HDD)
Amsterdam, The Netherlands – CoBe Capital, a global private investment firm, announced today that the sale of Printing Systems Group (PSG), a Netherlands-based distributor of industrial printing solutions across Europe, to Heidelberger Druckmaschinen AG (Xetra: HDD) has been completed. With €225m in revenue and 400+ employees in the Benelux countries and southern Europe, PSG’s partnership with Heidelberg dates back decades, and will result in an immediate sales increase for Heidelberg. Financial terms of the agreement were not disclosed.
CoBe Capital specializes in acquiring and operating non-core and underperforming business units from global corporations, and has led the Printing Systems Group through significant operational growth since its acquisition from Staples in 2013.
“Over the past couple of years, the success we have had in partnership with the PSG team is exemplary of how CoBe Capital excels as a firm,” said CoBe Capital Managing Director Dr. Henning Walf, who led the transaction for CoBe Capital. “Together with the PSG team, we successfully expanded the company’s recurring after-sales revenue streams, drove margin improvement on capital equipment sales and improved operational performance throughout all back-office processes. I am proud of our accomplishments in partnership with PSG’s executive team and the hard work of PSG’s employees.”
Neal Cohen, CoBe Capital’s Owner and Managing Director, added, “This is an exciting success story for CoBe Capital and a testament to our operational and ownership philosophies. We intend to leverage the benefits and learnings from this across our portfolio companies and future transactions. We’ve had a great deal of success in acquiring and operating businesses across Europe and we are enthusiastic about continuing to grow our portfolio in the region.”
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. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.