Last updateWed, 19 Jun 2024 7pm

Canon Germany sells printing services subsidiaries

Canon Deutschland GmbH has sold its subsidiaries for printing services - Canon Deutschland Business Services GmbH and Canon Deutschland University Services GmbH - to ASC Investment Sarl. ASC Investment is an investment company with locations in Luxembourg and Munich and will take over all of the approximately 300 employees of the two subsidiaries, which have 45 locations.

Canon Deutschland GmbH has sold its printing services subsidiaries - Canon Deutschland Business Services GmbH and Canon Deutschland University Services GmbH - (CBS) to the financial investor ASC Investment Sarl. With around 300 employees, CBS provides printing services for around 60 major customers and specialises in in-house printing services (including transaction printing) and the provision of value-added services. This includes, for example, the implementation of digital document workflows and the provision of creative services via the associated design center. The two subsidiaries became part of the Canon Group through the acquisition of Océ NV by Canon Inc. in 2010.
"We are pleased to have found a suitable new home for this business to develop as an independent company and grow profitably. CBS has been a valuable part of our business for the past eight years. In order to take even better advantage of the opportunities, the step into the independence of CBS will help to exploit its full potential," said Rainer Führes, Managing Director of Canon Deutschland GmbH.
The new owner also sees this step towards independence as setting the course for a successful future. "We are pleased to have found an agreement with Canon that will enable CBS to shape its future independently and actively. In the past years CBS has built up a stable customer network and has always been a reliable and innovative partner for the offered outsourcing services. We want to further develop this basis together with the employees of CBS, add new services to the program and thereby act even more actively as a solution provider for our customers on the market. As an independent company, CBS will be able to focus fully on its services and thus be an even stronger partner for its customers," says ASC CEO Frederic Hierl.
The parties have agreed not to disclose the positive purchase price.
The investment bank Bryan, Garnier & Co acted as exclusive financial advisor to Canon Deutschland.



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