DUBAG Group acquires Liveo Research AG ´s Cards Solution Business

DUBAG Group has acquired Liveo Research AG´s Cards Solution Business. Headquartered in Castiglione Olona (VA), Italy, Liveo Research AG’s Cards Solution Business is the leading manufacturer of sophisticated materials for credit and ID cards in Europe with a global customer base, serving a market with very rigorous requirements regarding quality, customer specifications and reliability of supply.

The DUBAG Group is a specialised investment advisory firm based in Munich, Germany. The firm advises and manages private equity funds with a focus on acquisition and active management of companies in special situations, mainly corporate spin-offs and carve-outs of conglomerates.

Emanuel Cattanei, Partner of DUBAG Group commented: “Liveo’s Cards Solution Business is an outstanding company with unique technologies offering sophisticated applications for the global card industry. We are convinced that – together with the very experienced management team – we can develop the Card Solutions Business to a new level of technological sophistication based on further intensifying our customer orientation. We will invest in new technologies and sustainable materials “

The transaction will allow Liveo Research AG to focus its future growth strategy on the pharma and special packaging business.

Dr. Carsten Heldmann, CEO of Liveo Research AG, commented: “Our clear strategy is to grow our Pharmaceutical and Specialty Packaging Businesses where we are investing heavily into new production assets, our people, innovation, sustainable product solutions, and we are establishing new production sites around the world with the overarching objective to give our customers the best possible service and support. The sale of the Cards Solution Business is an important milestone in achieving this objective. As for the Cards Solution Business, I’m very pleased that we have found a new home for this profitable and cash-strong business that can get the attention and resources it clearly deserves.”

While Liveo Research AG’s production site in Delaware (USA) produces some products for the cards market, it primarily manufactures products for the pharmaceutical packaging business and is, therefore, not part of the sale. However, DUBAG and Liveo Research AG have agreed on a comprehensive Manufacturing Service Agreement to ensure that there will be no change for our international customer base in the cards business.

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