HIG Europe, a unit of global private equity firm HIG Capital, has sold AR Metallizing to to Nissha Printing.
AR Metallizing caters to food, beverage and consumer packaging goods industries with metalized paper.
Nissha Printing, which trades on Tokyo stock exchange with revenues of over €850m said that the acqusition will offer it global growth opportunities as ARM has three facilities in Belgium, Italy and the US.
Nissha offers its services to the industrial materials, devices, life innovation and information and communication sectors in Japan and worldwide.
HIG Capital managing director Mark Kelly said: "We are very proud of what we have accomplished together with the ARM founders and management team; we have built a global leader that today serves over 300 customers in more than 80 countries.
"Nissha is the right strategic partner for ARM and will enable it to fully capitalize on substantial global growth opportunities. We look forward to watching ARM thrive under its new ownership."
HIG, which is an alternative assets investment firm with €17b of equity capital under management, had purchased ARM in September 2012. It also bought the assets of US-based Vacumet Paper to make it a leading manufacturer of metallized paper, the company said.
ARM CEO Bart Devos said: "HIG has been an outstanding and committed partner to ARM. HIG's ownership has enabled us to invest in world class operations, market leading R&D and new products that serve a customer base across the US, Europe, Africa, Asia and South America while providing invaluable operational and strategic guidance.
"Under HIG's ownership we have solidified ARM's position as the global market leader."
