The German printing inks and chemicals specialist announced last week the sale and purchase agreement with the consortium between Mavco, a private investment vehicle belonging to select members of the Murugappa family, and funds managed by Avenue Capital Group, a global investment firm.
The consortium will acquire all shares in the company from the current owner, Cornelius Treuhand Holding.
The completion of the transaction is subject to the required regulatory approvals. Reports in the financial press have valued the deal at $310m (£245m).
Hubergroup said the planned investment by the consortium signified a commitment to long-term, sustainable growth that provided the business with “a unique platform” to enhance its market position, strengthen its financial base, and increase investments in high impact areas.
M.A.M. Arunachalam – also known as Arun Murugappan, director of Mavco Investments, said: “We are excited to announce our partnership with Hubergroup, an organisation with a rich heritage spanning multiple centuries.
“This collaboration marks our strategic entry into the global print/packaging solutions and allied products. Together with Avenue Capital Group, we are committed to accelerating Hubergroup’s growth in key international markets and enhancing its ability to deliver exceptional value to all its business partners worldwide.”
This investment will also allow Hubergroup to capitalise on high-growth opportunities across geographies.
“The regions where demand for high-quality chemicals and print/packing solutions is growing, represent significant areas for expansion,” it stated.
“The backing from the consortium will allow Hubergroup to meet this demand and unlock new market potential.”
Florian Dausend and Markus Stadler, managing partners of Cornelius Treuhand Holding, also commented: “As trustees, our priority has been to ensure a robust and strategically sound future for Hubergroup. We are confident that the consortium provides the ideal foundation for Hubergroup’s growth, stability, and continued success across the globe.”
Britta Hübner, chief transformation officer of Hubergroup, added: “This acquisition is proof of the resilience and commitment of our entire team. Our efforts to transform into a robust, sustainable foundation have paid off, and together with the consortium we are well positioned for significant growth and industry leadership.”
Hubergroup has a history stretching back more than 258 years. The company’s Print Solutions division produces inks, varnishes, and printing auxiliaries for packaging, commercial, and newspaper printing while its Chemicals division produces speciality chemicals such as resins, laminating adhesives, pigments, and additives at its plants in India.
Hubergroup employs around 3,000 people in almost 30 countries and generated annual sales of around €812m (£679m) in 2022.
