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  • 06 Aug 2018

Private equity fund Capidea invests in FlexoPrint

FlexoPrint is one of the leading producers of self-adhesive labels in Denmark, focusing on products for FMCG and logistics companies

Danish private equity fund Capidea has become the new majority shareholder in FlexoPrint Holding, which owns a number of companies in Denmark and Germany that together make up the FlexoPrint Group.

FlexoPrint is one of the leading producers of self-adhesive labels in Denmark, focusing on products for FMCG and logistics companies. The company also has sales in the remaining Scandinavian markets and additionally has two subsidiaries in Germany, H&P Etiketten and the recently acquired TOM Etiketten. These have a focus on the German market. The group’s customer base comprises of companies within food and beverage, retail chains as well as wholesalers of label products. The FlexoPrint Group is headquartered in Randers and has a little more than 100 employees. The company has production facilities in Randers, Denmark and in Salzbergen and Greven, Germany.

Capidea is a Danish private equity fund making long-term investments in competitive small and medium-sized Danish companies. Its investor base includes the European Investment Fund, Dansk Vækstkapital II, Nordea Liv & Pension, Nykredit, Jysk Holding, Hanssen as well as a group of other blue chip companies and private individuals who are an active part of Capidea’s network. Capidea invests in companies within trading, distribution, service and manufacturing. Since 2006, it has acquired 18 companies.

FlexoPrint is the second investment by Capidea’s latest fund, Capidea Kapital III K/S, which was established in December 2017 with a capital commitment of DKK 750 million in a first close with the possibility of additional capital commitments in a second close.

With the investment in FlexoPrint Group, Capidea will take part in the continuous growth and development of the company in partnership with the management and the other shareholders. FlexoPrint Group founder, and former majority shareholder, Svend Lynge Jørgensen will continue as shareholder and chairman of the board of directors. Lars Ole Nauta will also continue as shareholder and after the transaction becomes FlexoPrint Group CEO.

Jørgensen commented: ‘We wanted an investor who would be able to continue the positive development of the company and who could take part in a generational succession of the former ownership group. The FlexoPrint Group has in recent years had a solid growth in revenue and earnings due to both organic growth and add-on acquisitions. I have been very pleased with the company’s development and I look forward to additional growth in the coming years together with Capidea.’

Nauta added: ‘I am pleased that we have found a partner in Capidea with extensive experience from other companies as well as knowledge from related industries. We believe that there is a good match between FlexoPrint and Capidea.’

Henrik Normann Karlsen, associate partner in Capidea, said: ‘The FlexoPrint Group has a strong position in a solid market, a strong management team and dedicated employees, which together form a good platform for continued profitable growth. The company has gained strong customer relations based on a large commercial focus, with a customer centric approach. We look forward to taking part in the continued positive development of the FlexoPrint Group.’

DES Labels and the 50 percent owned TJ Partner - Tryk I/S will continue to be part of the FlexoPrint Group following the transaction.

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