Perusa Funds sells Senator Group

Guernsey/ Munich/ Groß-Bieberau, 19th of December 2018 
Perusa Partners Fund II, L.P. ("Perusa"), an investment fund advised by independent Perusa GmbH sold Senator GmbH and its subsidiaries ("Senator Group") to management. The parties have agreed to not disclose the purchase price or details of the transaction.

Perusa acquired Senator Group from Merz Pharma GmbH & Co. KGaA in June 2016. The company looks back on almost one hundred years of history. Today, it is one of the world's leading manufacturers of promotional products, especially writing utensils, cups and mugs. Senator manufactures its plastic ballpoint pens at its own production site in Germany and sells through qualified distributors. Currently, the company employs nearly 300 employees at five locations world-wide. In the financial year 2017, Senator generated sales of nearly €40 million.

Strategic realignment ensures further growth

After the acquisition, the Senator Group was successfully restructured and repositioned in the market. With investments of almost €3 million, the main production site in Groß-Bieberau was substantially modernised. The two other plants in Harlow (Great Britain) and Cestas (France) have also been shaped for the future.

"The Senator Group has an excellent reputation as a manufacturer of premium promotional products in Europe," says Dr. Hanno Schmidt-Gothan, Managing Director of Perusa GmbH, which advises the seller Perusa Partners. "We are pleased that management continuity has been ensured through the current Managing Director and future owner Daniel Jeschonowski."

"Together with the local management teams in Groß-Bieberau and the foreign subsidiaries, group management succeeded in bringing the core business back on track and successfully developing Senator further," says Raphael Weller, Investment Director at Perusa GmbH. "We are convinced that the entire group will continue on its successful trajectory as an owner-operated company."

Perusa was advised on the transaction by "Gütt Olk Feldhaus Partnerschaft von Rechtsanwälten mbB".

About Perusa

Perusa is an independent capital holding company, which currently has two funds with 350 million euro equity investing in medium-sized companies and Group divisions in the German or Scandinavian area. Perusa is pursuing a strong operational approach to increase the efficiency and thus the long-term value as well as the potential of the portfolio companies. Strategic acquisitions (buy and build strategy) are also striving to strengthen the growth of the portfolio companies.

Press contact

Perusa GmbH
Dr. Hanno Schmidt-Gothan
Theatinerstraße 40
D-80333 München
Telefon: +49 89 2388789-0

VOCATO public relations
Jessica Auweiler
Braugasse 12
D-50859 Köln
Telefon: +49 2234 60198 17

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