Invision sells TonerPartner to Gilde Buy Out Partners

The company was an Invision V portfolio company; the fund closed on €285m in July 2013 and has a gross multiple of invested capital of 3x, according to Unquote Data.

Gilde is currently investing from its Buyout Fund V, which closed on €1.1bn in November 2015. The firm registered its sixth-generation fund in October 2018.

Previous funding
As part of an owner buyout, Invision acquired a majority stake in TonerPartner in November 2016, alongside the founding family. During the firm's holding period, the number of employees increased from 60 in 2016 to more than 130 in 2020, according to a statement. The business also acquired TintenCenter.com in 2016 and HQ Patronen in 2019.

Company
Founded in 1993, the business focuses on ink, toner and printer cartridges over its e-commerce platform. TonerPartner is based in Hattingen.

People
Invision – Peter Kroha (partner, managing director Germany).
TonerPartner – Julian Zweers (managing director).

Advisers
Vendor – Alantra (M&A); Deloitte (financial due diligence); WDP (commercial due diligence); CKSS (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Buyouts
• DACH
• Technology
• Gilde Buy Out Partners
• Invision Private Equity AG
• Germany
• Secondary buyout
• Deloitte
• Alantra