Gulf investment firm Investcorp has announced an agreement to acquire SPGPrints Group BV from funds managed by Bencis Capital Partners for an enterprise value of €240 million ($326.6 million).
The Bahrain-based company said closing of the transaction is expected following clearance from the relevant competition authorities.
Established in 1947, SPGPrints is the global provider of integrated solutions for rotary screen and digital printing for textiles and graphic applications, and a manufacturer of precision metal components for a broad range of applications.
Headquartered in Boxmeer, The Netherlands, the company is represented in more than 100 countries worldwide and in 2013 generated revenue of €214 million, a large share of which was from emerging markets.
Mohamed Sammakia, managing director at Investcorp and regional head for the UAE, said: "SPGPrints is a successful business, which over the last six decades, has grown to become a global player in the digital printing space.
"Our investment teams are looking forward to working closely with management and to sharing both our business and sector knowledge as we seek to pursue an expansion strategy, which will encompass both organic growth and acquisition led investments."
DW Joustra, CEO of SPGPrints, added: "With a truly global presence, we believe that Investcorp is a complementary partner for SPGPrints and one that will provide us with the solid capital base required to help us realise the full growth potential of the business, including through add-on acquisitions."
The transaction is Investcorp's fifth successful acquisition in 12 months following its agreement to acquire Tyrrells, a premium manufacturer of hand cooked potato and vegetable crisps, Paper Source, a premier US paperie and online retailer, Namet, the leading Turkish producer of processed meat products, and Totes, a leading global provider of umbrellas, cold weather and footwear products.