The Belgian group had announced its intention to separate from its Offset Solutions division in January 2021. This has now been done. Agfa-Gevaert has signed a share purchase agreement with the European investment fund Aurelius for the sale of its division, which produces pre-press and printing solutions (offset plates, films, software, services, chemicals, etc.) for commercial, newspaper and packaging printers worldwide. This division, which employs 1,700 people worldwide, is expected to be sold in the first quarter of 2023 for 92 million euros.
In fiscal year 2021, the Agfa Offset Solutions division achieved 748 million Euro in sales, which corresponds to a worldwide market share of about 20 percent, the new owner emphasizes.
For Pascal Juéry, CEO of Agfa-Gevaert, this sale is "a major step" in the group's transformation process. "This will allow us to focus more on our growth business, which is critical to our future success in our markets."
In turn, Aurelius announces that Agfa Offset Solutions' existing business initiatives and growth strategies will continue. The investment fund will also focus on other growth markets, including packaging software. "With the help of Aurelius' in-house research and external support, the company will be able to lead the ongoing industry consolidation." said Dirk Markus, founding partner of Aurelius.
"Agfa Offset Solutions offers a variety of growth opportunities, especially in environmentally friendly, low-chemical and chemical-free products, added Matthias Täubl, CEO of Aurelius Equity Opportunities. The existing portfolio of leading products and services already provides a solid foundation for optimization."
