INTERTECH S.A. (the “Company”) is accelerating its growth in the Greek market through a strategic acquisition, with the acquisition of a 100% stake in the company under the name “Adelfoi Doxiadi "GRAFOTECHNIKI" Société Anonyme” (the “Grafotechniki”).
INTERTECH S.A., a member of the CD-Media S.E Group, proceeding with a business move that is part of its broader development planning and within the framework of its strategy for targeted investments in high value-added products, announces that it signed a definitive agreement for the acquisition of 100% of the share capital of Grafotechniki.
Grafotechniki was founded in 1961, headquartered in Athens with branches in Thessaloniki and Patras, and is one of the largest and most notable companies in the field of trading and support services for office automation systems, with a strong client base of businesses and organizations throughout Greece.
Within the framework of the transaction, the enterprise value (“Enterprise Value”) of Grafotechniki was agreed at the amount of € 3,280,000, which will be paid in a lump sum. The sellers will additionally be entitled to a base consideration of € 300,000 in the form of an “Earn-out” for the sale and transfer of the shares to the Company, depending on the future financial performance of Grafotechniki based on the adjusted EBITDA indicator.
The completion of the transaction is subject to the fulfillment of certain conditions, including the partial demerger of assets relating to the property of the acquired Grafotechniki.
- Shareholding structure and Management of the acquiring company before and after the transaction.
The transaction did not bring about any change in the shareholding structure or in the management of INTERTECH S.A., which remain unchanged before and after the completion of the transaction.
Financing
The transaction does not alter the Company’s shareholding or capital structure. The consideration for the transaction will be covered by the Company’s own available funds, which derive entirely from the recent sale of its owned property.
- Effects on the Company’s financial and asset structure – key financial figures of the acquiring and the acquired company.
Based on the financial figures for fiscal year 2025, Grafotechniki corresponds to approximately 32% of INTERTECH S.A.’s turnover, approximately 36% of total assets and approximately 54% of total liabilities.
Grafotechniki’s Equity as of 31.12.2025 amounted to € 1.6 million, corresponding to approximately 23% of INTERTECH S.A.’s Equity, while Cash and cash equivalents amounted to € 764 thousand.
Grafotechniki does not show bank or financial borrowing as of 31.12.2025.
Grafotechniki’s EBITDA for fiscal year 2025 amounted to € 529 thousand.
At the consolidation level with INTERTECH S.A., also taking into account that the consolidation will be carried out from the date control is acquired, Grafotechniki’s contribution to the consolidated turnover of the year for fiscal year 2026 is expected to be zero.
The actual effect of the transaction on INTERTECH S.A.’s consolidated figures will be reflected in the financial statements of the period during which the transaction is completed, in accordance with the applicable accounting standards.
As regards the effects of the transaction after its completion, the Company will hold 100% of its share capital and 100% of its voting rights.
The successful completion of the acquisition of 100% of Grafotechniki’s shares by the Company constitutes yet another decisive step in the implementation of its growth strategy and a business agreement that marks a new chapter for the two strong companies, centered on the technologically advanced and highly competitive portfolio of products, services and solutions for modern office automation and digital transformation of the renowned “RICOH” brand.
Through the expertise and innovation possessed by the two companies, INTERTECH S.A.’s move aims at the full utilization of the strengths and synergies of the two companies, with the purpose and goal of their continuously improved response in providing upgraded technological products, greater service speed, expanded geographical coverage and competitive high-technology services.
For the transaction, BDO and the law firm A.S. Papadimitriou & Partners acted as financial and legal advisor to INTERTECH S.A., respectively, while Deloitte and the law firm Your Legal Partners acted as financial and legal advisor to Grafotechniki, respectively.