Taghleef Industries (Ti) has announced that it has entered into an agreement to acquire Spanish film supplier Derprosa Film from 3i Group, Baring and other minority shareholders. The transaction, which has been approved by the Board of Directors of Taghleef Industries and Derprosa Film, is subject to customary completion conditions and is expected to close by the end of April, 2014.
According to Ti, a new management has successfully restructured the business and has focused on international expansion and the development of high margin products. Today, Derprosa Film is a supplier of specialty films for graphic arts applications for luxury packaging and is supplies films for flexible packaging converters in Spain.
"Once part of the Ti Group, Derprosa Film will have access to resources deployed on all continents and will be able to accelerate the penetration of a set of very innovative technologies," says Detlef Schuhmann, CEO of Ti Group.
Maite Ballester, managing director at 3i Spain, comments, "We have worked with the management team to accelerate the business by focusing on product development and entering new markets. In the last four years alone, the company has developed and launched more than 14 products and it also has a strong pipeline of products to launch. We are pleased to have supported the business and look forward to seeing the company's continued growth."