Agfa-Gevaert Group has signed a share purchase agreement with asset management company Aurelius Group for the sale of its Offset Solutions division. Under the terms of the deal, Aurelius will acquire the Agfa’s Offset business for 92 million Euro, subject to conditions.
“The expected sale of the Offset Solutions division is a major step in our ongoing transformation process,” said Pascal Juéry, CEO of the Agfa-Gevaert Group.
“It will enable us to increase our focus on our growth businesses, which is crucial to our future success in our markets. After having examined all options, we believe that the proposed transaction is the best possible solution for all stakeholders: the employees working in the division, the customers in the offset industry and our shareholders.”
The Offset Solutions division is a global supplier to the offset printing industry, offering commercial, newspaper and packaging printers integrated prepress and printing solutions.
The proposed transaction – flagged in Agfa’s latest financial update - is subject to customary employees’ information and consultation processes, regulatory approvals and closing conditions. Both parties aim to complete the transaction in the course of the first quarter of 2023.
In its statement, Aurelius described Agfa Offset Solutions as 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.
“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.”
Dr. Dirk Markus, founding Partner of AURELIUS, added: “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.”
The transaction is expected to close in Q1 2023, subject to approval by the relevant competition and regulatory authorities.
