Summa acquired by investment company Ergon
Published: 8 July 2021 | No comments yet
Ergon says it is 'proud' to embark on its partnership with Summa
Summa, the manufacturer digital cutting equipment, has been bought by investment company Ergon.
For more than 30 years Summa has been producing vinyl and contour cutters, flatbeds and laser cutters for use in the printing, signage, display, apparel and packaging industries. It employs more than 150 people across its sites in Belgium, England, the US and Singapore.
Originally founded in Belgium, Summa was previously owned by Gimv, a European investment company listed on Euronext Brussels. In recent years the company has established an American arm, expanded its flatbed product portfolio and branched out into the textiles cutting market through the acquisition of British firm CadCam Technology.
The company, which has doubled its turnover since it was originally acquired by Gimv back in 2016, says it is well placed to capitalise on the ongoing evolution in the digital printing space. With high levels of flexibility and demand for custom products driving demand for digital cutting tools and dovetailing with increasing interest in printed textiles, Summa believes that its extensive portfolio means that, ‘if you can print it, we can cut it’.
Erwin Vandousselaere, CEO of Summa, commented on the new arrangement. ‘Together with Gimv, it has been a great journey over the past five 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.’
Ergon, which has over €1.5 billion of assets under management, operated across the European mainland, but has a particular focus on France, Germany, Italy, Spain and the Benelux nations. Pieter Lambrecht, a partner at the company, added his thoughts. ‘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.’