M&A Deal Summary

Bencis and GIMV Acquire Xeikon NV

On July 18, 2013, private equity firms Bencis and GIMV acquired machinery company Xeikon NV

Acquisition Highlights
  • This is Bencis’ 1st and GIMV’s 4th transaction in the Machinery sector.
  • This is Bencis’ 29th and GIMV’s 24th transaction in the Netherlands.
Investment Fate
  • Xeikon NV was sold to a strategic buyer in 2015.

M&A Deal Summary

Date 2013-07-18
Target Xeikon NV
Sector Machinery
Buyer(s) Bencis
GIMV
Deal Type Going Private

Target

Xeikon NV

Eede, Netherlands
Xeikon NV is an innovator in digital-printing technology. The company designs, develops, and delivers web-fed digital color presses for labels and packaging applications, document printing, as well as commercial printing. These presses utilize LED-array-based, dry-toner electrophotography, open workflow software, and application-specific toners.

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Buyer(S) 2

Buyer

Bencis

Amsterdam, Netherlands

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 1.9B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Bencis is an independent private equity firm focused on investments in profitable, established companies headquartered throughout Western Europe. Target businesses typically generate sales of €25 to €500 million and operate in the industrial/manufacturing, food/beverages, logistics/distribution, chemicals, automotive, leisure, media, services, utilities and retail industries. Bencis was formed in 1999 and is based in Amsterdam, the Netherlands.


DEAL STATS #
Overall 36 of 77
Sector: Machinery M&A 1 of 2
Type: Going Private M&A Deals 2 of 2
Country: Netherlands M&A 29 of 55
Year: 2013 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-09 Florimex International B.V.

Aalsmeer, Netherlands

Florimex International B.V. is a distributor of horticultural products. With more than 30 branches and numerous representatives, Florimex International is at home all over the world. Worldwide, Florimex holds the number one position in the market. Thousands of employees around the globe take care of daily imports and exports of a wide range of flowers, plants and foliage.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-02 Voogd & Voogd

Middelharnis, Netherlands

Voogd & Voogd is a technology-enabled insurance distribution and software platform. Providing a range of value-added administrative services and solutions, the company’s platform forms the commercial and logistical link between insurers and c.2,000 brokers in Netherlands. Voogd & Voogd was founded in 1909 and is based in Middelharnis, Netherlands.

Buy -
Buyer

GIMV

Antwerp, Belgium

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 2.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

GIMV is a Belgium based public investment company focused on private equity and venture capital investments in tech-based businesses. GIMV's private equity practice operates through its Corporate Investment unit and targets management buyouts, buy-ins, and growth capital financings of companies with annual sales between EUR15 and EUR150 million. For buyout opportunities GIMV generally takes a majority stake in businesses and for growth capital needs, GIMV takes a minority position. GIMV does not invest in publicly held companies or turnaround situations. GIMV's geographic focus is within Belgium, Netherlands, Germany, and France. GIMV also invests in Russia through Eagle Capital Partners, a partnership with KBC Private Equity. GIMV was formed in 1980 and is headquartered in Antwerp with additional offices in The Hague, Frankfurt, Munich, and Paris.


DEAL STATS #
Overall 82 of 170
Sector: Machinery M&A 4 of 7
Type: Going Private M&A Deals 1 of 1
Country: Netherlands M&A 24 of 42
Year: 2013 M&A 8 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-28 Prosensa

Leiden, Netherlands

Prosensa is an operator of a biotechnology company that uses a unique and revolutionary licensed technology platform that makes use of so-called exon skipping for correcting mutated RNA. Prosensa company primarily targets Duchenne Muscular Dystrophy (DMD) disorder, against which it has already developed two products that are currently in clinical phase I / II. Prosensa was founded in 2002 and is based in Leiden, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-19 Endosense SA

Meyrin, Switzerland

Endosense was founded in 2003 in Geneva. It develops and commercialises TactiCath®, a unique catheter used for treating cardiac rhythm disorders. Catheter ablation is a treatment whereby a special catheter is advanced into the patient's left heart chamber via the femoral vein. TactiCath® improves the safety and effectiveness of catheter ablation treatment. The optic fibres of the catheter measure the contact force between the catheter and the beating heart wall. This to avoid that the contact force is too slight, reducing the effectiveness of the treatment, or that the contact force is too great, risking heart wall perforation. Since heart fluttering is meanly related to old age and the population is ageing, the demand for catheter ablation is expected to increase swiftly.

Sell $171M