Prismaflex partner up with Circle Graphics and maintain a minority holding via their Prismaflex USA subsidiary of 28.91%.
Prismaflex International announce they have concluded an association agreement in the capital of their subsidiary Anthem Displays with the American firm Circle Graphics, Inc (“Circle”), a leading digital printer in the USA, that operates on the on-line home decor and OOH advertising markets and member of the H.I.G Capital Group.
Following on from capital transfer and capital increase operations (cash transfer and current account transfer) aimed at strengthening the equity capital and cash flow of Anthem Displays, Circle Graphics becomes the majority shareholder, with Prismaflex USA, subsidiary of Prismaflex International, maintaining a 28.91% holding.
This backing will offer Anthem Displays the additional financial resources it requires to pursue its investments and develop commercial synergies with Circle Graphics on a buoyant American DOOH market.
The operation means Circle Graphics completes its “made in America” offer and product portfolio and can, through Anthem Displays benefit from Prismaflex International's expertise in the design and manufacture of digital LED displays.
Anthem Displays (total sales €7.2 million and current operating loss of €47K in 2019-2020) will subsequently be accounted for on an equity basis.
Pierre-Henry Bassouls, CEO and co-founder of Prismaflex International declares: “We are proud to have finalised a strategic partnership agreement with Circle Graphics, who have the same growth objectives as us for Anthem Displays. This agreement strengthens not only Anthem Displays ‘ position on the large format digital THD advertising display market, it also strengthens our Group's position on the smaller format digital SMD display sector in North America, a market we already have a leading position on in Europe.”
Rod Rackley, CEO of the Circle Graphics OOH division adds: “A majority shareholding in Anthem Displays, a key producer of digital signage on the OOH market, strengthens our position as market leader. We are delighted to be in a position to offer our clients innovative, high-quality and competitively-priced digital solutions, designed and produced in the United States.”
Press release: Q3 2020-2021 results, January 21, 2021, after closure
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