GED pays 12 million euros to buy Infopress printing company

Spanish private equity firm GED has acquired 92% in Infopress printing group, the biggest in South-Eastern Europe, for 12 million euros, a sum that will partially cover payments to suppliers and banks, and will be used to expand operations in the region.

GED is the third investment fund to become a shareholder of the biggest Romanian printing company, after taking over the stake from Icelandic fund Kvos. In 2005 Kvos bought 100% in the printing company, for a sum put at 25 million euros from Baring Central European Fund, which had become a shareholder in the early 2000's.

Infopress posted around 45 million euros in revenues in 2009, and its EBITDA stood at 3.5 million euros, with the company estimating revenues of 57 million euros and an over 15% rise in EBITDA for this year, according to GED. The group had over 201.6 million RON in overall debt at the end of 2008, according to the latest data available from the Finance Ministry.