Management buyout of Itella Information’s printing business in Germany
The management of Itella Information in Germany has purchased the printing business of Itella Information, making it a printing partner for Itella in Germany.
The name of the new company is docsellent GmbH. Approximately 100 employees will transfer from Itella Information to the company. docsellent GmbH will serve German customers from June 1st 2012.
The Itella Corporation's interim report for January-March 2012 announced that German printing operations are in need of a considerable change. The measures initiated to correct the situation have now been completed and for the management buyout a non-recurring loss (approximately EUR 14 million) is recorded in the result for the second quarter.
- The printing business is very local. There are standardized production requirements in each country, and it is better to differentiate and add value with an international partner network, says Philippe Coquelet, the former CFO of Itella Information GmbH.
- Personal relationships and flexibility in serving local needs are the key success factors in the printing industry, adds Thomas Simon, Director Service Delivery Management and the new owner of docsellent GmbH.
- docsellent GmbH will serve as local German printing partner for Itella Information, and printing is part of Itella Information's order-to-cash offering together with cash flow automation solutions and finance and accounting business process outsourcing services, says Petri Karjalainen, VP, Customer Operations, Itella Information and Managing Director, Itella Information Holding GmbH.
docsellent GmbH is owned by Philippe Coquelet, CFO and Thomas Simon, Director Service Delivery Management. Both are experts in the printing industry and they have been working at Itella for several years. Both have a strong background in customer relationship management.
Itella Information continues operations in Germany, and is based in Hannover and in Halle (Saale) employing around 120 Finance & Accounting professionals.
For further information, please contact:
Petri Karjalainen, VP, Customer Operations Itella Information and Managing Director, Itella Information Holding GmbH, tel. +358 40 741 6041, firstname.lastname@example.org
Provides financial process services and cash flow automation solutions that improve customers' profitability and agility, and facilitate their transition to the e-world. The services cover all aspects of financial management: from purchase order to payment and from sales order to management of incoming cash flows, plus a full range of accounting and payroll services. With benefits of scale, automated processes and best practices, the company manages its customers' financial processes in an efficient, professional and flexible manner.
Itella Information operates in 11 European countries and has an extensive global partner network. The company employs more than 2,200 people and the 2011 turnover was EUR 273.7 million. Itella Information is part of the Itella Group.
The Itella Group provides solutions for managing information and product flows. Itella operates in the fields of mail communications, logistics, and financial management in Europe and Russia. Net sales in 2011 amounted to EUR 1,900 million. The number of staff is approximately 27,500. Corporate services are delivered under the Itella brand, while the Posti brand is used for services targeted at consumers in Finland. For further information, go to www.itella.com/group.