JK Group

Ethica Corporate Finance advised the shareholders of JK Group – an Italian leading manufacturer of digital sublimation inks for the textile industry – on the sale of the business to US multinational group Dover Corporation (NYSE listed) for a total enterprise value of €346.5 million, implying a ca. 10.3x EV/EBITDA multiple on 2015 pro-forma expected EBITDA.
Headquartered in the Como area, JK Group is the global leader in manufacturing and distributing innovative inks serving the digital textile printing market, under three brands “Kiian Digital”, “J-Teck” and “Sawgrass Industrial”.
JK Group is the result of the merger of Kiian Digital, J-Teck3 and Sawgrass Industrial, three globally recognized leaders in the digital ink market for textile and graphics applications, growing at a 20% annual growth rate.
The Group was owned since 2012 by Private Equity funds Alcedo SGR and Wise SGR as well as by some members of the management team.
Becoming part of Dover’s universe represents for JK Group the natural continuation of a growth and strengthening path, which can now leverage on a global platform and on the synergies with other group companies active in its reference market and in adjacent segments. Dover was in fact identified as the ideal partner, sharing JK’s focus and interest in the development of the digital printing industry, where the multination group is already active through MS Printing Solutions, a leading Italian manufacturer of machines for digital textile printing.