Munich-based private equity firm Perusa Partners has acquired Xindao, a functional promotional products company, from its founding shareholders who will leave the company by the end of the year.

Founded in 1986 in The Hague, Xindao has experienced double digit annual growth over the last ten years.

The company has a team in Shangai that designs its own proprietary branded products, including technology products, drinkware, bags, and lifestyle products.

It also operates a printing and decorating business, Printmasters, in Romania, where the company also keeps its inventory to serve the European market within days.

Perusa made a similar investment last year when it acquired a majority stake in Senator, a supplier of merchandising products and pens, from Merz Pharma Group.

Since then it bought Swedish IT and communications provider Dialect in December and steak house chain Maredo from fellow buyout house ECM Equity Capital Management in May.

It also exited Dynasafe International, an unexploded ordnance clearance and weapons disposal business, to Scandinavian investment company Solix Group in August.

Perusa typically backs central European and Nordic companies with revenues between €30m and €200m.

With a hold period of up to 14 years, Perusa’s funds are able to remain invested longer than most private equity backers.

SUBSCRIPTION REQUIRED

To view the deal details,  or subscribe.