AURELIUS announces the acquisition of Agfa Offset Solutions from the Agfa-Gevaert Group
- Worldwide provider of offset print solutions with EUR 748m in revenues
- Performance improvement opportunity via focus on innovation and operational efficiency
Luxembourg/Munich, August 30, 2022 – AURELIUS announces the acquisition of Agfa Offset Solutions from the Agfa-Gevaert Group (ISIN: BE0003755692), Mortsel/Belgium. The division is one of the leading global suppliers of prepress solutions to the offset printing industry. In FY21, Agfa Offset Solutions generated EUR 748m in revenues which translates into a global market share of roughly 20 percent.
Agfa-Gevaert Group announced the separation of its Offset Solutions activities in January 2021 and has now signed a share purchase agreement with AURELIUS for the sale of its division. The transaction will be completed by AURELIUS European Opportunities IV, controlling a 70 % stake and its Co-Investor AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), controlling the remaining 30 %. The transaction is expected to be completed in Q1 2023.
The company supplies the offset printing industry with prepress solutions like offset plates, graphic films or software and is commercially active in more than 75 countries worldwide. The firm is present across all steps of the prepress value-chain, offering a portfolio of offset plates, graphic film, equipment & services, as well as software and chemicals. Agfa Offset Solutions reached a market leading position in Europe and LATAM and ranks among the top players in other markets. The company operates various manufacturing entities and R&D sites globally, with around 1,700 employees. Approximately 130 employees are active in R&D.
“Agfa Offset Solutions is a well-suited addition to the AURELIUS portfolio. Continued innovation of plate technology and associated software solutions, as well as post-pandemic market trends, have created an opportunity for AURELIUS to leverage its existing expertise to capture growth in the prepress market. This will be supported by a focus on growth markets such as packaging and prepress software. Innovative research and the support of AURELIUS will enable the firm to lead the ongoing industry consolidation”, states Dr. Dirk Markus, Founding Partner of AURELIUS.
“Corporate Carve-outs require experienced partners. With AURELIUS, Agfa has found the ideal partner for the transaction. We are convinced AURELIUS’ impressive track record in the industrial sector will provide the foundation for future growth of the Offset Solutions division”, states Pascal Juéry, CEO of Agfa-Gevaert Group.
AURELIUS is committed to supporting Agfa Offset Solutions in driving forward the existing business initiatives and expanding its market position. Going forward, AURELIUS will focus on innovation and a high-quality offering as well as further strengthening the approach of integrated manufacturing and commercial business units.
“Agfa Offset Solutions offers various growth potentials, amongst others, in environmentally friendly low-chem and chem-free products. The existing portfolio of leading products and services already forms a strong basis for optimisation. We are eager to start this journey, engage with the management and their team and bring in our operational expertise”, comments Matthias Täubl, CEO of AURELIUS Equity Opportunities.
AURELIUS was advised on the transaction by DC Advisory (M&A), Baker McKenzie (Legal), KPMG (Tax, Pensions).