Control Print Limited, a Coding & Marking solutions provider, announced the acquisition of Markprint BV, a world-wide supplier of high-speed printing and coding solutions.
As part of the deal, Control Print has acquired 75% of Markprint B.V. for € 1.5 million through its Dutch Holding Company ControlPrint B.V., a statement said.
This is a strategic acquisition for Control Print both in terms of adding technical capabilities as well as getting a toehold in the European market. The acquisition gives Control Print complete access to Markprint’s technology related to high quality Single Pass Printing for Packaging & Industrial applications and will expand its product offering and integrated solutions for applications such as inventory control, branding, and traceability, the statement said.
Based in Amstelveen in The Netherlands, Markprint BV develops high-end but easy to use coding and marking solutions that offer precise and high-quality printing on any material. Charles Vrolijk, Managing Director, Markprint is a long-standing industry veteran and will continue to hold the other 25% shareholding, the statement said.
Speaking on the acquisition, Shiva Kabra, Joint MD, Control Print, said, “At Control Print, we are constantly looking to add capabilities that enhance our unique value proposition to our customers. This acquisition is strategic for Control Print and will pay a multi-fold dividend to us over the years. It will enable us to enhance our organic growth rate for a longer time within the core Indian Market as well as give us an entry into newer territories. We will continue to work with the existing leadership to leverage their technological expertise, market reach and build deeper relationships with existing and potential clients.”
“Control Print plans to immediately make the Markprint Technology available in the Indian Market and develop targeted applications with localized solutions based upon Markprint’s technology over the next 12-18 months. Control Print will also support Markprint with geographical expansion and in-house capabilities to increase its direct revenues to 10 million Euros over the next 6 years.” Kabra further added.
Speaking on this partnership, Charles Vrolijk, Managing Director, Markprint, said, “Markprint is delighted to become a part of the Control Print family. With this, we look forward to contributing to the growth of both the companies. Their business model, technical capability and market reach offers tremendous opportunity to our customers and partners.”
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