Wednesday March 22nd, 2006
The venture capital firm Molins Capital Inversión (MCI) has joined a group of investors to acquire 33% of Smart Impression; a Catalan company specialized in large format digital printing for communication and publicity. MCI has purchased 23% of Smart Impression whilst other investors, whose identity has not been disclosed, have acquired an additional ten percent. The amount of the transaction, in which intervened Landwell and Deloitte, has not been revealed.
Smart Impression is based in Cardedeu (Vallès Oriental) and already had a financial partner: Invernova, a venture capital fund subsidized by the Government, who joined the company in late 2003 with the purchase of approximately 40% of shares and the investment of EUR 600,000.
After the entry of new shareholders, the founders of Smart Impression, CEO Jordi Alba, and Luis Casanovas, maintain a significant number of shares, but less than 50%. The board is chaired by Juan Martinez de Tejada, executive at Activa Ventures, a company managing Invernova fund.
Smart Impression was founded in 1998. In its beginnings, the company worked closely with the American Hewlett-Packard (HP). Later they specialized in manufacturing material for exhibition stands and advertising at the points of sale.
With a staff of 32 people, last year the sales reached around EUR 3 million. Smart Impression controls 60% of shares of the professional lighting company Cotelux also based in Cardedeu.
The funds provided by MCI and its partners will be used to develop a new line of business called Smart-Play Systems, a turnkey service of installation and management of dynamic publicity at points of sale.
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