Quadient Announces Agreement to Divest its Automated Packaging Solutions Business to Standard Investment
June 24 2021 - 2:30AM
Quadient Announces Agreement to Divest its Automated Packaging
Solutions Business to Standard Investment
Quadient Announces
Agreement to Divest its
Automated Packaging Solutions Business to Standard
Investment
-
Agreement includes sale of the production facility based in
Drachten, the
Netherlands, and
the gradual transfer of
Quadient’s mid-range
folders/inserters production to
other Quadient industrial sites and
suppliers
-
Deal will
contribute significantly
to Quadient’s industrial
footprint optimization and further
reducing the Additional
Operations segment, in line with
the Back to Growth strategy
Paris, 24 June 2021
Quadient (Euronext Paris: QDT), a leader in
helping businesses create meaningful customer connections through
digital and physical channels, announced today it has entered into
a sale agreement with Dutch private equity firm Standard Investment
for the sale of its Automated Packaging Solutions (APS) business
and production facility based in Drachten, the Netherlands.
Geoffrey Godet, Chief Executive Officer of
Quadient, commented: “As we continue building leading market
positions in high-growth businesses that are synergistic with our
foundational mail-related activities, we are happy to announce this
agreement with Standard Investment, a proven high-profile and
hands-on investor, committed to strongly supporting the automated
packaging business and the Drachten teams in their journey in the
fit-to-size packaging solutions space.
“This transaction marks another important step
in our Back to Growth strategy. On the one hand, it will further
contribute to the refocus of our business portfolio. On the other
hand, it will allow us to optimize our industrial footprint, which
will support the high profitability of our Mail-Related Solutions
in the future.”
Amsterdam-based Standard Investment is a private
equity firm focused on hands-on investments in medium-sized
companies that can benefit from an active owner in relation to the
complexities of carving-out from a corporate setting and
positioning for strong future growth and opportunity in the market.
Standard Investment will be fully acquiring the Automated Packaging
Solutions business, which includes industry award-winning
innovations CVP Impack and CVP Everest that can pack-to-size for
e-commerce businesses. APS teams are mainly based in Drachten,
where the production facility is located, but also in the US,
Germany, Belgium, France and the UK.
Herbert Schilperoord, partner responsible for
the acquisition on behalf of Standard Investment, explained: “We
have been very impressed by the know-how of the organization and
the enthusiasm of the employees. The innovating technology they
created is unique in its market, capable to generate custom
fit-to-size packaging for every e-commerce order, making shipments
more efficient, significantly reducing the use of cardboard and
plastic filling material and contributing to reducing the carbon
footprint of e-commerce deliveries. We look forward to working
together with the management team in the coming months on how we
can best transform the organization into an independently operating
company – corporate carve-outs being one of the focus areas of
Standard Investment.”
The Drachten production site, which has about
240 employees, hosts sales, marketing, service, R&D and
production teams for APS as well as for Document System (DS)
mid-range folders/inserters, which Quadient will continue to
market. As part of the transaction, mid-range DS production will be
gradually transferred from Drachten to other Quadient industrial
sites and suppliers, ensuring business continuity.
The completion of the transaction, which is
subject to certain closing conditions, is expected in Summer 2021.
The total selling price amounts to above €20 million. This
transaction will lead to significant cost optimizations over time.
After the sale of the Graphics business in Australia and New
Zealand, this is the second divestiture in Quadient’s Additional
Operations segment this year, which, taking into account those
divestments, would have represented less than 6% of total revenue
for full-year 2020 on a pro forma basis.
About Quadient®
Quadient is the driving force behind the world’s
most meaningful customer experiences. By focusing on three key
solution areas, Intelligent Communication Automation, Parcel Locker
Solutions and Mail-Related Solutions, Quadient helps simplify the
connection between people and what matters. Quadient supports
hundreds of thousands of customers worldwide in their quest to
create relevant, personalized connections and achieve customer
experience excellence. Quadient is listed in compartment B of
Euronext Paris (QDT) and is part of the CAC® Mid & Small and
EnterNext® Tech 40 indices.
For more information about Quadient, visit
https://invest.quadient.com/en-US.
About Standard Investment
Amsterdam-founded Standard Investment is
a North-Western Europe-focused investment firm with
offices in Amsterdam, Brussels and Stockholm, dedicated
to "hands-on” investment in
the mid-market. Founded in 2004, the firm operates with a
philosophy of direct involvement with the companies in which it
participates. Standard Investment has, among others,
participations in Riedel, Synres, Aweta, The Future Group and
Burger King Netherlands. With a team of 16 professionals, it
manages a portfolio of 16 companies, spread over 4 countries
with over 4,300 employees and a cumulative turnover above
€1 billion.
Contacts
Laurent Sfaxi, Quadient+33 (0)1 45 36 61
39l.sfaxi@quadient.com financial-communication@quadient.com Caroline
Baude, Quadient+33 (0)1 45 36 31
82c.baude@quadient.com |
OPRG FinancialIsabelle Laurent / Fabrice Baron+33
(0)1 53 32 61 51 /+33 (0)1 53 32 61
27isabelle.laurent@oprgfinancial.fr fabrice.baron@oprgfinancial.fr |
- Quadient_APS Drachten Agreement_EN_final
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