Alantra advises Invision and the founding family on the sale of TonerPartner to Gilde Buy Out Partners
ServiceM&A; Debt Advisory
Frankfurt – Alantra, the independent global mid-market investment banking, alternative asset management and credit portfolio advisory firm, advises Invision Capital Partners V Ltd, in its capacity as general partner to Invision V L.P. (“Invision”), and the founding family on the sale of Atramenti Holding GmbH (“TonerPartner”), a leading European e-commerce business focused on ink and toner cartridges, to Gilde Buy Out Partners (“Gilde”) for an undisclosed amount. Alantra acted as exclusive M&A and Debt advisor to the selling shareholders. The transaction is subject to customary merger clearance approvals.
Founded in 1993 and based in Hattingen (Germany), TonerPartner evolved into Europe’s leading online retailer for ink and toner cartridges for a wide range of printers operating six brands across 22 online shops in 16 countries. The company offers one of the broadest portfolios of original branded products, high quality white label and own branded compatible alternatives, as well as environmentally friendly recycled cartridges. TonerPartner has a loyal and growing end customer base with close to 4 million SME and private customers having been served over the last 10 years.
Commenting on the sale of TonerPartner, Peter Kroha, Partner and Managing Director at Invision Beteiligungsberatung GmbH stated: “The investment in TonerPartner has been a very successful one for Invision and one which we will look back on with real pride. Together with the entire team at TonerPartner we developed the company from a German family-run business into the European e-commerce platform for ink and toner. During our ownership sales more than doubled, profits more than tripled and the number of employees increased from 60 to over 130. We would also like to take the opportunity to thank the Alantra team for their excellent advice, flexibility and persistence throughout this transaction.”
Wolfram Schmerl, Managing Partner at Alantra’s Frankfurt office, highlighted: “We are delighted that we have advised Invision and the founding family on this successful outcome. Both have been instrumental in taking TonerPartner to where it is today and with Gilde Buy Out Partners, the company will have a reliable new owner to continue the growth trajectory.”
Leandros Bebos, Director at Alantra, added “we are grateful for the trust the shareholders placed in us. It has been a pleasure working with the TonerPartner and Invision teams throughout this exciting transaction.”
Since its foundation in 1997, Invision has become a leading private equity firm focused on successions and growth buyouts in German-speaking regions. Over this period, Invision invested more than EUR 500 million in over 50 companies and achieved sustainable value creation for its portfolio companies. Invision is an entrepreneurial partner to founders, businesses, and management teams. The aim is always to adapt to the specific needs of all stakeholders by developing customized solutions to fit each specific situation and need.
About Gilde Buy Out Partners
Gilde is a leading European private equity investor in mid-market transactions with operations in the DACH region and the Benelux. Gilde manages funds in excess of EUR 3 billion and has offices in Frankfurt, Zurich, Utrecht, and Brussels. Since its inception in 1982, Gilde has supported more than 250 companies to realise their growth ambitions.