Perusa acquires Xindao

The GP drew equity from Perusa Partners II, a €207m buyout fund that closed in November 2011. The vehicle's deployment is "on track", according to a source close to the situation.

In 2016, Xindao reported an operating profit of €3.1m from €44m in sales. However, this entity does not encompass the entirety of the operations and 2017's figures are "much higher", according to the source. Xindao acquired promotional product company Senator in 2016, which accounts for some of the growth.

The founders will leave the company by the end of the year but the management will take a small stake from the GP, the source added.

Debt
Rabobank is arranging the debt for the transaction.

Company
Xindao was founded in 1986 and is headquartered in the Netherlands. The company designs and prints promotional items and gifts through a range of brands. It has offices in the Netherlands, Scandinavia, England, Germany, France, Italy, Spain, the US, Hong Kong and Shanghai. In 2016, it generated an operating profit of €3.1m from €44m in sales and retained 76 full-time employees, according to publicly available information.

People
Perusa – Hanno Schmidt-Gothan (managing director).
Xindao – Albert van der Veen (CEO).

Advisers
Equity – Deloitte (financial due diligence); DLA Piper (legal); Lincoln (debt advisory).

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• Topics
• Buyouts
• Benelux
• Consumer
• Netherlands
• Perusa GmbH