Xeikon has confirmed that Bencis Capital Partners ("Bencis") completed its purchase of Punch International ("Punch") controlling interest in Xeikon, making Bencis the largest shareholder of the company. The Gimv-XL fund invested alongside Bencis as minority shareholder.
"With the transaction completed, Xeikon has the capital, the leadership, the products and the customer support in place to expand on innovation and strengthen its role as leading provider of digital printing solutions to customers around the globe," the company says.
Bencis is an independent private equity firm that invests in medium-sized companies in the Benelux countries. Gimv-XL, managed by Gimv, is the largest investment fund for midcap companies in Flanders. The new shareholders said of the transaction: "Both Bencis and Gimv-XL invest in solid companies that are led by strong management teams, have leading positions in their respective markets and are well positioned for further expansion. Xeikon met all of those requirements. Their leadership role in the digital printing marketplace, combined with technologically advanced solutions and a strong emphasis on R&D and customer service make them an ideal investment for us. We believe there is a bright future for this innovative company, and we are pleased that Bencis and Gimv-XL are a part of it."
According to the company, Bencis' and Gimv-XL's strategy to invest in growth will enable Xeikon to enforce its mission of developing and distributing innovative digital printing technology that supports the needs of their customers. To assure growth and innovation, Wim Maes will again assume the role as CEO of Xeikon with immediate effect. Maes joined Xeikon as CEO in October 2009, establishing a clear strategic focus and strong financial foundation. At the end of 2012, Maes left that role but remained an active advisor within the Xeikon organization.
Maes comments, "I'm pleased to once again lead Xeikon and increase the level of innovation we started a few years ago. Xeikon became a leader in digital dry toner-based label and package production; built on the Xeikon 8000 Series to successfully launch the innovative Trillium technology and extended the product portfolio with prepress offerings including basysPrint CtP and ThermoFlexX platemaking solutions. With the acquisition in place, Xeikon is in perfect shape to grow and offer solutions that meet our customers needs - today and in the future."
Maes replaces Frank Deschuytere, who recently served as CEO. With the take-over in place, Deschuytere will pursue other activities and Xeikon thanks him for his contribution to the company.