Portfolio news Zetes

Having been present in the African market for several years, through its activities in People ID, Zetes also sees great potential on this continent for the development of the Goods ID business. This is why it has just acquired ProScan, a leading South African company in the field of supply chain, automatic data entry and mobility solutions. The Zetes Group is thus extending its geographical coverage for its Goods ID solutions to a new continent. Employing about 170 people at 4 sites (Johannesburg, Cape Town, Durban and Port Elizabeth), ProScan holds a dominant position in South Africa.

• Acquisition of ProScan, a leading company with an excellent reputation in the South African market
• ProScan: Revenue of EUR 15 million in 2010 and employing 170 people
• Logical investment for Zetes on a continent with very high growth potential

Andrew Fosbrook, Managing Director of the ProScan Group commented: "We are very happy to be joining the Zetes Group. Our two companies offer their services to the same type of clients and share the same business vision. Zetes offers us access to its knowledge, expertise and skills in terms of technologies and solutions, which are among the most advanced in the world. We particularly hope to benefit from the group's strong competencies in voice recognition and printing/affixing labels, to further our progress."

Alain Wirtz, CEO of Zetes, says: "ProScan offers a solid foothold in Africa for Zetes' Goods ID solutions. There is a high demand on this continent for traceability solutions, particularly to track raw materials. This is a region of burgeoning growth, offering important potential for the group. Africa represents a natural expansion for Zetes, which already has a strong presence there in People ID. South Africa is an ideal base for getting to know the entire southern part of the continent. ProScan has a solid team, experienced in auto-ID and is regarded as a market leader. In time, this subsidiary may also serve as an African base for expanding the People ID business. We are delighted to welcome the ProScan team into the group so we can continue working together to promote its success and progress."

In 2010, ProScan achieved a turnover of EUR 15 million, with an EBITDA of around EUR 1 million. The acquisition amounted to EUR 5.2 million for a debt-free company. The transaction will enter into effect on 1 July 2011 and the revenue and results of ProScan, which will operate under the name of ZetesProScan, will contribute to the group's results as of the second half of 2011.