Looks like Ronda ITC to me, Bold weight (possibly still not digitized) using the alternate /K as seen on Ronda Light specimen from fellow Typophile Mike Bowfin Printworks Font Identification guide.

There is a digital version of it, called Serius SSK (Bold) (or Serius SSI) but it's from the well known font forgery company Southern Software (Copyright 1993 Southern Software, Inc) so I suppose they steal the outlines from another digital font as usual.

Another version of Ronda was by Elsner+Flake i n 1994, The SSI version has the rounded M which EF version does not.

Found another version with rounded top M - 1990-1993 FontBank, INC. called Rondalo Regular (possibly source of SSI)

edit: further research shows FontBank did digitize its products from various printed type specimens. The most likely source being a old Chartpak transfer lettering catalog which shows both M versions.

Thanks bojev, fvilanakis, Ryuk!