US-based multinational corporation Dover has acquired innovative Italian JK Group, a leading manufacturer and distributor of inks for digital print, operating in the digital textile printing market.
JK Group was previously owned by two Italian private equity funds namely, Alcedo SGR and Wise SGR that owned a 72 per cent stake of the Group.
On Thursday 22 October Dover announced the 100 per cent acquisition of JK Group (the remaining minority shares were also bought from JK Group’s manager).
JK Group has been valued €346.5 m. JK Group’s digital inks will complement Dover’s product range and will join the US corporation’s engineered systems segment.
JK Group is based in Novedrate, near Milan (Northern Italy). The Group, funded by Italian equity funds Alcedo and Wise was founded by the integration between two Italian companies namely, Kiian Digital, J-Teck3 and US-based Sawgrass Industrial.
Alcedo and Wise acquired Kiian in December 2012 when the company posted annual revenues of € 49m.
Marco Guidolin and Valentina Franceschini, partners at Alcedo SGR and Wise SGR respectively, said in a joint statement:
“This financial operation represents an excellent example of how collaboration between Private Equity teams, entrepreneurs and managers can take an Italian SME to the next level and become a worldwide leading company”.
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