Private equity firm IK Investment Partners has acquired European printing and labelling company Optimum Group from Mentha Capital.
Optimum Group is a printer of self-adhesive labels, banding and shrink sleeves and primarily serves the food and retail markets. The Group operates five printing facilities, of which four are in the Netherlands and one in Belgium.
The business was backed by Mentha in 2014 and since then has made a number of bolt-on acquisitions.
Optimum plans to expand its technological capabilities, such as inkjet technology, and its presence in the food, beverage, chemicals, pharmaceutical and logistics sectors.
Bart de Boer, CEO of Optimum, said: “Label printers such as Optimum are well-positioned in the value chain to benefit from underlying volume growth drivers. With the support of IK, we will be able to invest in new digital technologies to print smaller batches more efficiently, enhancing our service offering. We will also be able to reach new customers through our international expansion and will further develop and expand our current product portfolio.”
Remko Hilhorst, Partner at IK Investment Partners, added: “We were impressed with Optimum’s ability to outpace market growth thanks to its unique offering. Given underlying economic performance and the Netherlands’ strong position in food export, Optimum’s core market is expected to grow above market average. This investment is representative of our increased focus on the Benelux region and we look forward to working with the management team to grow the company’s relationship with its existing customers through increased cross-selling and geographic expansion.”