Private equity firm Bencis Capital is set to purchase Xeikon after reaching an agreement to acquire Punch International’s 65.68 per cent stake in the company for €110.3m at €5.85 per share.

Punch has owned Xeikon since 2002 when it acquired the assets of the company after it filed for Chapter 11 bankruptcy in Belgium.

When contacted by Australian Printer, Grish Rewal, director of the Australian distributor of Xeikon products Absolute Electronics said “At this stage we haven’t spoken to Xeikon and are only aware of what is in the company’s press release.”

In recent years it has focused on the labels and packaging markets for its suite of digital print engines.

The Bencis deal was first discussed in January 2012, and was recommended by the Punch Graphics board. The deal will see Bencis Capital acquire Xeikon’s manufacturing facility in Belgium, and the business of Point-It, Xeikon’s IT services provider.

The statement from Bencis Capital says that once the deal is completed, Gimv, an investment fund, will also purchase a 20 per cent stake in Xeikon. Gimv is a Belgium-based investment firm with operations in venture capital and private equity.

Xeikon has been through several hands since it burst onto the print world at Ipex 93 launching its colour digital print system at the same time as Benny Landa’s Indigo and transforming the world of print.

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