ARMOR Print Solutions and THS Group join forces

ARMOR Print Solutions and THS Group join forces to build a European leader in printing. ARMOR Print Solutions, an ARMOR GROUP company, announces the acquisition of THS Group. The two European manufacturers offer a combination of printing consumables, software and IT solutions, with opportunities for cross-selling their services and products. The new entity, which will count 700 employees and a turnover of €90m, aims to build a European leader capable of offering all alternative printing products and services to office and IT resellers.

The joining of two heavyweights in alternative printing consumables

Since the 1990s, ARMOR Print Solutions has been offering global printing solutions including remanufactured cartridges, an environmentally-friendly and responsible alternative to original cartridges, managed print services - or MPS - and semi-industrial inks. An expert in the main A4 and Business Inkjet printing technologies, ARMOR Print Solutions stands out for its leadership in Europe, covering more than 95% of the European printer installed base. Headquartered in Nantes, the company has industrial and logistics sites in Morocco, Poland, the Netherlands and Germany, and sells throughout Europe.

THS Group, a German specialist in office automation systems, offers solutions in printing consumables, spare parts and MPS software for photocopiers and printers. Founded in 1995, THS Group is one of Europe's leading MPS suppliers. The group has a production plant based in Hemer (near Dortmund), and a sales and distribution network in Europe.

"I am extremely pleased with the merger between ARMOR Print Solutions and THS Group. 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" says Gerwald van der Gijp, CEO of ARMOR Print Solutions.

"On behalf of THS Group, I am delighted that 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" adds Christian Schulte, CEO of THS Group.

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 the 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 products 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%. 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" adds Gerwald van der Gijp.

The transaction, the amount of which is confidential, was carried out with the advice of PwC France and PwC Germany.