Advised on Sale of Company


THS Group

Offering solutions in printing consumables, spare parts and MPS software for copiers and printers

has been acquired by

ARMOR Print Solutions

International industrial group leveraging its expertise for printing solutions

IMAP advised the shareholders of THS Group on the sale to ARMOR Print Solutions

IMAP has advised THS Group, consisting of Team Hell und Schulte GmbH & Co. KG ("THS") and Märkische Hard & Software GmbH & Co. KG ("MHS") on the sale to ARMOR Print Solutions, an ARMOR GROUP company. The two companies offer a combination of printer consumables, software and IT solutions with cross-selling opportunities for their services and products. The entity, which will count 700 employees and a turnover of €90 million, aims to build an European market leader capable of offering all alternative printing products and services to office and IT resellers.

THS Group, Hemer, Germany

THS is a partner to resellers, offering solutions in printing consumables, spare parts and MPS software for copiers and printers. Founded in 1995, the company is one of the leading MPS providers in Europe. With the integration of the IT company MHS in 2010, THS Group offers a complete package of software solutions and support.


ARMOR Print Solutions, Nantes, France

ARMOR Print Solutions offers comprehensive and environmentally friendly printing solutions, including remanufactured inkjet cartridges (OWA), an environmentally friendly and responsible alternative to original cartridges, managed print services (DYALOG) and semi-industrial water-based inks (ARMOR Industrial Inks Lab). ARMOR Print Solutions is a subsidiary of the ARMOR GROUP. ARMOR GROUP employs approximately 2,500 people in 20 countries and has a turnover of €447 million.


The IMAP team exclusively advised the shareholders of THS Group in a structured M&A process through all phases until the successful closing.

"On behalf of THS Group, I am delighted that we are joining forces with ARMOR Print Solutions, one of Europe's leading suppliers of alternative consumables. We share the same sense of industrial excellence and service. We would also like to express our special thanks to IMAP, who accompanied us through the entire process with great commitment and excellent professional and personal support."

said Christian Schulte, CEO of THS