According to a report on Reuters, Capvis first held talks with Manroland in September with a view to taking a stake in and restructuring the company using the proceeds from a capital increase.

However, the firm is said to have pulled the plug on the deal after receiving the company's figures for 2011, because the results were "significantly below" expectations, while restructuring costs were "significantly higher".

Daniel Flaig, a partner with Capvis Equity Partners, said: "We sincerely regret on behalf of the employees that we weren't able to come to an agreement over how to put the company on a stable footing."

Manroland, which is owned by German insurer Allianz and heavy-truck maker MAN, filed for insolvency on Friday after the talks broke down and it was unable to secure a loan from its banks.

"All solutions failed because of a lack of financial support," Juergen Kerner, deputy chairman of Manroland’s supervisory board, said in a statement. "A potential investor surprisingly withdrew. But especially the owners MAN and Allianz were not prepared to provide more support."