The Hungarian printing house Állami Nyomda brought 50% stake in Romania’s GPV Mail Services S.R.L., for EUR 1.5-2.2M. The Cluj Napoca-based company, member of France’s leading overprinting company GPV Group, posted revenues of EUR 4.287 million and EBITDA of EUR 446,000 in 2009.
The transaction, subject to approval of Romania’s competition authority, is expected to be closed by 30 November 2010 the latest. In GPV’s clients portfolios there are banks (48%), financial service providers (13%) and pubic utility companies (25%), with three of Romania’s five biggest banks among its customers.
Before making this acquisition, Állami Nyomda was already present on Romanian market as founder and shareholder of Tipo Direct S.R.L (50% shares).