Argand Companions, LP, the New York- and San Francisco Bay Space-based personal fairness agency, at the moment introduced that it has accomplished the acquisition of Cherry GmbH. Argand acquires market-leading specialty manufacturing and enterprise providers corporations with sustainable aggressive benefits and robust progress potential.
Cherry is the world’s main international designer and producer of excessive precision keyboard swap know-how for PC gaming and professional use computing peripheral merchandise. The corporate designs and manufactures premium key switches for mechanical keyboards, branded gaming peripherals, laptop enter units (together with mice and headsets), and merchandise for safety, level of sale and e-Well being purposes. Headquartered in Germany, Cherry operates throughout a world footprint of state-of-the-art manufacturing amenities and company places of work in Europe, Asia, and the U.S. Cherry has a status for “Made-in-Germany” high quality, efficiency and reliability and enjoys vital model fairness with clients.
Argand’s funding in Cherry is supported by long-term progress within the international PC gaming market and the on-going digitalization of healthcare. Cherry has skilled a lift from ‘stay-at-home’ social insurance policies and ‘earn a living from home’ company developments which are accelerating the adoption of PC gaming and home-based workplace laptop peripherals.
As well as, Cherry is the main supplier of safe telematics infrastructure for the German healthcare market. Germany is the world’s second largest healthcare market and is on the forefront of the e-Well being transformation. The COVID-19 pandemic has accelerated the method of digitalizing the nation’s healthcare infrastructure. Argand plans to assist Cherry’s efforts to develop its e-Well being providing throughout Europe and North America.
Based within the U.S. in 1953, Cherry pioneered the mechanical keyboard swap. The corporate’s CHERRY MX switches are thought-about the industry gold normal in keyboard swap know-how. Cherry’s merchandise are engineered to maximise efficiency, ergonomics, sturdiness and precision. The Cherry model is utilized by a various buyer base worldwide, together with gaming professionals and lovers, and corporates and governments within the protection, healthcare, finance and retail sectors. Cherry retains the Blue Angel ecolabel for environmentally pleasant product design.
Tariq Osman, Accomplice and Co-Founder at Argand, commented, “Cherry is a superb match for our agency and funding technique. The corporate has a transparent management place and vital model fairness, and is an innovator in its industry. We sit up for partnering with Cherry’s administration workforce to pursue an accelerated international progress technique, together with strengthening Cherry’s U.S. presence, capitalizing on the e-Well being enterprise alternative, and prioritizing extremely strategic M&A on a world foundation.”
Rolf Unterberger, Cherry’s Chief Govt Officer, stated, “We have now discovered a accomplice that’s as excited by Cherry’s pioneering product innovation, buyer loyalty, and progress potential as we’re. We have now been impressed by the vitality, creativity and strategic imaginative and prescient that Argand has already delivered to the partnership, and we sit up for working collectively to maximise our robust momentum in gaming and e-Well being.”
The acquisition is supported by a mortgage facility supplied by Hayfin Capital Administration. Hengeler Mueller acted as lead authorized counsel to Argand, supported by Winston & Strawn LLP for the USA, Jun He LLP for China, and Gide Loyrette Nouel AARPI for France.
About Argand Companions
Argand Companions is a New York and San Francisco Bay Space-based middle-market personal fairness agency that targets market-leading industrial corporations with under-resourced and unrealized international progress potential. Argand corporations have robust market share, sustainable aggressive benefits, defensive traits, and vital progress potential supported by secular demand developments. The agency focuses on specialty manufacturing and enterprise providers corporations with a powerful U.S. nexus (headquarters, main progress market, or majority of income) and infrequently vital international operations or enlargement alternatives.
Argand is a growth-oriented management investor that seeks complicated, typically contrarian, conditions so as to purchase effectively. The workforce employs a hands-on method to partnering with administration to create worth throughout the funding lifecycle and assist portfolio corporations obtain their full potential as world-class, industry-leading corporations.
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Cherry GmbH, headquartered in Auerbach in der Oberpfalz, Germany, is the world’s main producer of premium mechanical switches for the PC gaming keyboard market. Cherry can also be a number one international producer of laptop enter units with a give attention to the Gaming, Workplace, Business, Safety and Healthcare markets. Cherry employs roughly 400 folks in manufacturing vegetation and company branches in Germany, France, UK, China and the USA. Based in 1953, the Cherry model is synonymous with “German-quality” merchandise which are designed and developed particularly for the wants of its clients.