By Jon Robinson
Heidelberger Druckmaschinen AG today signed an agreement with investment company CoBe Capital for Heidelberg to acquire the European Printing Systems Group (PSG) headquartered in the Netherlands. Through this acquisition, for which the purchase price is to remain undisclosed, Heidelberg would expand its services and consumables business.
Heidelberg expects the acquisition of the PSG Group, which is subject to regulatory approval, to result in additional sales of around €130 million for the Heidelberg Group, primarily through services and consumables business. The medium-term goal at Heidelberg is for services and consumables to account for over 50 percent of total Group sales. The figure currently stands at around 40 percent.
PSG has approximately 400 employees in the Benelux countries (Belgium, the Netherlands, and Luxembourg) and southern Europe. It has worked closely with Heidelberg for several decades. PSG currently generates over half of its revenue through the sale of services and consumables, with Heidelberg products accounting for the majority of the company’s equipment sales.
“PSG’s strength in the services and consumables business and its outstanding access to customers are very attractive to us,” said Gerold Linzbach, CEO of Heidelberg. “Having eliminated unprofitable portfolio items, we’re now starting to actively expand our portfolio in order to return the company to growth.”