BRUSSELS, BELGIUM: Ergon Capital has acquired Summa alongside management from Gimv, a news release said.
In 2016, Gimv acquired a majority stake in Summa alongside the management team. Summa expanded quickly by establishing its own organization in the US (2017), expanding organically its flatbed product portfolio, entering the market of laser cutting for textiles through the acquisition of UK-based CadCam Technology (2018), and launching its own software platform GoSuite (2019).
Summa has achieved impressive growth and has doubled its turnover since Gimv’s entry.Today, Summa employs more than 150 people with sites in Belgium (Gistel), the UK (Nottingham), the US (Boston area) and Singapore.
Summa will continue to develop its product portfolio and expand its geographical presence. With its innovative digital cutting solutions, Summa has everything to cater to all the needs of its global client base. To assist management in its ambitions and to continue investing in the company’s accelerated growth, Summa has entered a partnership with Ergon, an independent, mid-market value investor with a track record of fostering growth at innovative, niche companies.
Erwin Vandousselaere, CEO of Summa, explains: “Together with Gimv, it has been a great journey over the past 5 years and we are grateful to them for that. We are now at the start with our new partner Ergon, in whom we have full confidence to continue our planned growth. Summa’s performance has been excellent, as the company invested in geographical expansion, product upgrades and new innovations and will continue to do so.”
Tom Van de Voorde, Managing Partner and Head of the Gimv Smart Industries platform, on this growth story: “From a ‘hidden champion’, Summa is evolving into a global market leader through resolute investments in new products and software development, entering new segments and establishing partnerships with market leaders in the printing industry. The collaboration with the Summa team and our joint ambitions haveled to impressive organic growth. Companies like Summa make us optimistic about the industrial potential of Europe in the years to come.”
Pieter Lambrecht, Partner at Ergon, on this new partnership: “We are truly impressed by Summa’s strong growth and innovation track record and the clear vision of Erwin and his team. Summa’s international footprint and entrepreneurial DNA fit very well with that of Ergon, making us proud to embark on this partnership. We look forward to supporting the company in its next phase of accelerated and international growth.”
Summa is a market-leading manufacturer of innovative digital cutting equipment that helps its clients to finish their applications to the highest standards. Today, Summa employs more than 150 people with sites in Belgium (Gistel), the UK (Nottingham), the US (Boston area) and Singapore. www.summa.com
Gimv is a European investment company, listed on Euronext Brussels. With 40 years’ experience in private equity, Gimv currently has €2 billion of assets under management. The portfolio contains around 55 portfolio companies, with combined turnover of €2.8 billion and 15,000 employees. www.gimv.com
Ergon is a mid-market investment company with over €1.5 billion of assets under management from select European institutional investors and families. Ergon makes equity investments in leading companies with a sustainable competitive position in attractive niche markets located in the Benelux, France, Germany, Iberia and Italy.
Ergon is advised by Ergon Capital Advisors which has offices in Brussels, Paris, Munich, Madrid and Milan. Ergon’s current portfolio consists of 17companies across its target sectors. www.ergoncapital.com