Armor Expects THS Acquisition to Provide Leadership in Europe
The French-based ARMOR Print Solutions, an ARMOR GROUP company, has acquired the German-based THS Group with the expectation their combined capability will make them the European leader capable of offering all alternative printing products and services to office and IT resellers.
Founded in 1995, THS Group is a German-based specialist in office automation systems and also offers solutions in printing consumables, spare parts and MPS software for photocopiers and printers.
Pictured are Christian Schulte, CEO of THS Group, Gerwald van der Gijp, CEO of ARMOR Print Solutions and Simone Schroers, Managing Director of MHS.
The new entity, which will count 700 employees and a turnover of €90m, will permit the two European manufacturers to offer a combination of printing consumables, software and IT solutions, with opportunities for cross-selling their services and products.
The transaction amount remains confidential and was carried out with the advice of PwC France and PwC Germany.
“I am extremely pleased with the merger between ARMOR Print Solutions and THS Group,'” said Gerwald van der Gijp, CEO of ARMOR Print Solutions. “Our companies have known each other for many years, we share a common vision and together we will build a European leader in printing consumables.”
Christian Schulte, CEO of THS Group, added, I am delighted we are joining forces with ARMOR Print Solutions, one of Europe’s leading suppliers of alternative consumables. We share the same sense of industrial excellence and service.”
In keeping with the success of ARMOR Print Solutions and the THS group, the companies will continue to operate as before, with the same processes, the same names, the same brands, the same teams, and the same General Management, drawing on their complementary strengths.
“Accompanying the growth of ARMOR Print Solutions through an acquisition like THS is one of the strategic levers used by ARMOR GROUP to create a new European leader in the responsible printing market. We intend to pursue this acquisition strategy because we are convinced that the need to print ideas will always exist. We need to develop a circular and sustainable economy of printing to adapt to future environmental and sobriety challenges” adds Hubert de Boisredon, Chairman and CEO of ARMOR GROUP.
The power of complementarity
From a print consumables market perspective, the two companies operate in different sales channels and are therefore highly complementary – ARMOR Print Solutions relies on a network of office product resellers, while THS Group works more extensively with specialist resellers. The acquisition provides ARMOR Print Solutions with additional knowledge of the MPS and IT reseller distribution channels. In addition, the combination will strengthen the position of both players in Europe, particularly in Germany and the UK.
The product ranges of the two companies are also highly complementary. ARMOR Print Solutions offers a wider range of professional inkjet cartridges and remanufactured toner, while THS Group is a specialist in consumables for copiers and multifunction printers, and OEM consumables. As a result, both companies will mutually benefit from the expansion of their existing portfolios.
“Our companies are highly complementary. We estimate that our product ranges overlap by less than 5%,” added Gerwald van der Gijp. “In addition, THS Group’s ‘made in Germany’ positioning fits perfectly with ARMOR Print Solutions’ identity as a quality European manufacturer and supplier. What our two companies have in common is their commitment to quality and industrial processes.”
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