Taghleef Industries is pleased to announce that it has entered into an agreement to acquire Derprosa Film from 3i Group, Baring and other minority shareholders. The transaction, which has been approved by the board of directors of Taghleef Industries and Derprosa Film, is subject to customary completion conditions and is expected to close by the end of April 2014.
The business has been strengthened with a new management team during the period of ownership by 3i Group, Baring Private Equity and other minority shareholders. This team has successfully restructured the business and has focused on international expansion and the development of high margin products. Today, Derprosa Film is one of the worldwide leading suppliers of specialty films for graphic arts applications for luxury packaging and is a leading supplier of films for flexible packaging converters in Spain.
“Once part of the TI Group, Derprosa Film will have access to resources deployed on all continents and will be able to accelerate the penetration of a set of very innovative technologies”, says Detlef Schuhmann, CEO of TI Group.
“We have worked with the management team to accelerate the business by focusing on product development and entering new markets. In the last four years alone, the company has developed and launched more than 14 products and it also has a strong pipeline of products to launch," says Maite Ballester, managing director at 3i Spain. "We are pleased to have supported the business and look forward to seeing the company’s continued growth.”
Taghleef Industries Inc. (USA)