Sweden suffered a recession in 1992 and 1993, and Interprint, Sweden’s only independent rotogravure printer, filed for bankruptcy. Heavy investments in state-of-the-art printing equipment in the early 1990s, combined with an oversized workforce and technical start-up problems with the new equipment, resulted in massive losses.

The publishing group Bonnierföretagen (Bonnier Group), co-owner of Interprint until the bankruptcy, needed to find a partner to manage the restructuring of the company, and facilitate a suitable exit from the printing business.

Bonnier Group approached Proventus, and together they formed Tryckinvest i Norden AB, which in turn acquired Interprint from the bankruptcy administrator. The Tryckinvest group also acquired Sörmlands Grafiska, Sweden’s largest offset printer, thus creating a diversified printing house of considerable size within the Nordic market.

In cooperation with the management of Tryckinvest, an extensive restructuring program was initiated with the objective of improving productivity and working capital, and strengthening its competitive position by adding services no other Swedish printing company could offer. Contracts with suppliers and customers were re-negotiated to create a varied maturity structure, with the aim of diversifying operating risk and strengthening the company’s future bargaining power.

The restructuring program significantly boosted production and profitability at Tryckinvest. In 1996, the presses operated at full capacity and generated considerable cash flows. Being a non-core asset in Bonnierföretagen’s portfolio, the owners jointly decided to dispose of Tryckinvest, and in early 1997 the shares were sold to a financial investor.