Palero sells Krähe-Versand to HBB Holding

The deal marks the end of a three-year holding period for Palero, which acquired the business in 2015.

With Krähe-Versand in the process of realigning its sales activities, the GP said it started looking for a new owner to work with the business following the reorganisation.

Previous funding
Palero acquired Krähe-Versand in January 2015 from Berner Group, a Germany-based distributor of products and workwear to the construction and building maintenance sectors across Europe.

Company
Established in 1936 and headquartered in Schlierbach, Baden-Wurttemberg, Krähe-Versand is a mail-order company for workwear and protective clothes. It operates three business lines – Krähe, AKB and World of Western – with around 20,000 products, including a private-label segment. The company generated sales of around €15m in 2017 and employs a staff of 40.

People
Palero Capital – Conny Wuppermann (managing partner).

Advisers
Vendor – Clearwater International Germany, Markus Otto, Josef Spanidis, Gunther Haberkamp, Anton Ulrich (corporate finance).

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