Turbon Printing Technologies agrees to acquire all shares in Turbon International Inc., USA for an initial price of $2.5 million (€2.09 million).
In a regulatory filing, Turbon AG subsidiary, Turbon Printing Technologies GmbH, Hattingen, has confirmed its agreement to acquire all of the shares in Turbon International Inc., USA, from HBT Holdings GmbH, for an initial price of $2.5 million (€2.09 million). According to the filing, the purchase price can increase by up to $1 million (€830,000) in an earn out scenario.
The agreement was signed and completed on 23 June 2021 with all payments completed.
Until August 2018, Turbon AG held all shares in Turbon International Inc. which were then sold to HBT Holdings GmbH as part of debt reduction plan. The Turbon International
Inc. is the parent company of Turbon USA Inc., which transacts business with the Romanian Turbon subsidiary that produces remanufactured laser toner cartridges, as well as Clarity Imaging Solutions Inc., the provides services related to printers and copier offers.
Clarity Imaging Solutions was acquired in September 2013, as part of the company’s income generation strategy presented. Today it is a specialist managed print services that includes printer maintenance, reporting and also break or fix services.
