NL – The investment fund, Perusa Partners Fund 2, L.P. has sold Xindao and the subsidiaries of the promotional products specialist to the Gilde Buy-Out Fund V. No information has been disclosed regarding the sales price or details of the transaction. Perusa purchased Xindao in August 2017 from the founders and shareholders of the company.
According to press reports, the promotional products importer that was founded in 1986 looks back on a long series of annual two-digit growth rates and has more than tripled its turnover with the last ten years. Under the ownership of Perusa, the company completed the transformation into a company led by an independent management, expanded its international reach through the foundation of Xindao UK and Xindao Spain and established the brand XD Design for items of luggage and rucksacks on the global retail trade. In addition to the headquarters in Rijswijk, Xindao also operates its own printing and logistics centre in Romania as well as a design studio and procurement centre in Shanghai.
“Under Perusa we managed to further strengthen our position to become one of the largest suppliers in the promotional gift industry in Europe,” stated Albert van der Veen, CEO of the Xindao Group. “We have worked with Perusa in very good harmony, which is a good example for how a private equity and a former privately owned company can operate and manage to grow a company together.”
Gilde is an associated company in the medium-sized company segment and administers funds to the value of around three million Euros. Since its foundation in 1982, the equity capital investor has invested in more than 250 companies, mainly in the Benelux countries and DACH region.