Hubergroup sale to Mavco finalised

The sale and purchase agreement, initially announced on 12 November 2024, has now received full regulatory approval across all Hubergroup markets. The transaction officially closed on 8 April 2025.

The group has embarked on the next growth phase with new owners and has strengthened its management team. Dr Arup Basu will join on 1 June 2025 as the new chief operating officer based out of India. Dr Basu brings a wealth of experience from the chemical and manufacturing sector.

Premal Desai, who was group CFO, will transition to the role of chief executive officer. Desai will guide all activities under the close oversight of Mavco and Avenue Capital. A strengthened management board consisting of four further members reporting to Desai will assume strategic and operational leadership of Hubergroup under the new ownership.

Taner Bicer, who has been with Hubergroup for 11 years, will serve as chief commercial officer for chemicals. Carsten Zolzer, with a Hubergroup tenure of 21 years, will assume the role of chief commercial officer for print solutions. The management board will be completed by a new chief financial officer, who will join the team in the coming months. Desai will be acting CFO in the meantime, in addition to his role as CEO.

Vellayan Subbiah, the director of Mavco Investments,  said, "We believe in Hubergroup’s tremendous potential. By investing in innovation, infrastructure, and talent, we are launching its next growth phase – aligned with our vision as a long-term, multi-generational owner-operator."

Pankaj Goel, the head of partnerships Asia Pacific, and Rohit Santani, head of India for Avenue Capital Group, added: "We are excited to partner with Mavco to unlock Hubergroup’s potential in new and existing markets and deliver robust and profitable growth for years to come." They added, "Mavco’s strategic vision and operational expertise, combined with Hubergroup’s growth potential, fits well with our approach to back transformative businesses."

With manufacturing capabilities in India and Europe and an expanding presence in major international markets, Hubergroup is in a prime position to deliver high-quality, innovative solutions to customers worldwide.

The group celebrates its 260th anniversary this year, and as per the official press release, "The transaction marks the beginning of an ambitious new growth phase under the incoming owners. Hubergroup will pursue its strategic growth ambition through its excellent competencies in the speciality chemicals market and its established market leadership in print solutions."

Mavco Investments, a Murugappa Group affiliate, is in the news for multiple deals with private equity buyers for control transactions. The investment in Hubergroup allows the ink specialist to capitalise on high-growth opportunities across geographies. The regions where demand for high-quality print and packaging solutions is growing represent significant areas for expansion. The backing from the consortium will allow Hubergroup to meet this demand and unlock new market potential.