D – The Merz Group has sold its subsidiary, Senator GmbH & Co. KGaA, to the capital investment company, Perusa Partners. According to a press statement, Merz wants to continue concentrating on its global businesses aesthetics and neurotoxins and the take-over could enable Senator to further expand its position as one of the leading suppliers of promotional products. As Merz and Perusa have agreed by contract, the location in Groß-Bieberau will remain to be the company’s registered office also under the new shareholders, Senator’s business will continue to be run by the existing management. Both parties have agreed not to disclose the purchase price. “We are convinced that the sale to Perusa is the right way to ensure the long-term development of Senator,” said Michael Nick, a Merz shareholder and Senator’s Supervisory Board Chairman. “Thanks to its ability to generate high added value and its modern machinery, Senator is well-equipped for the future. And with backing from a strong, strategically interested partner that will invest in the business and its people, Senator can enhance its market position and lay the foundations for further growth.”
Senator was founded in 1920 and according to official accounts made a turnover of just under 50 mil. Euros in the fiscal year 2014/15. With around 350 employees and subsidiaries in Great Britain, France, the Netherlands, China and India, the company is one of the leading providers of promotional products and writing instruments worldwide. In addition to high-quality ballpoint pens, the product range also encompasses drinking vessels, writing cases and accessories.
The independent capital investment company, Perusa Partners, which was founded in 2008, currently invests via two funds with 350 mil. Euros of own capital, primarily in medium-sized companies and business units of large groups that have long-term value appreciation potential and which are based in the German-speaking or Scandinavian region.