CHERRY announces investment from Argand Partners
CHERRY ANNOUNCES INVESTMENT FROM ARGAND PARTNERS TO ACCELERATE GROWTH AND GLOBAL EXPANSION
Auerbach, 30.09.2020 – CHERRY, a leading global manufacturer of computer input devices and switches for mechanical keyboards , today announced an investment from Argand Partners, a New York- and San Francisco Bay Area-based private equity firm. So verfügt das Keyboard über zehn Multimediatasten. Die Sperren-, Browser-, Mail- und Taschenrechner-Funktion erleichtern den Büroalltag merkbar. Die sechs Tasten für die Steuerung von Multimedia-Funktionen sind selbsterklärend. Auch hier hat CHERRY großes Augenmerk auf die leichte Bedienbarkeit gelegt. Die Anordnung wiederum ist so gewählt, dass eine unbeabsichtigte Betätigung ausgeschlossen ist.
Argand Partners acquires market-leading specialty manufacturing and business services companies with sustainable competitive advantages and strong growth potential. Argand’s investment in Cherry recognizes the company’s leading position in the mechanical keyboard switch market, its history of innovative product engineering, and continual development of groundbreaking computer hardware technology.
Alongside premium key switches for mechanical keyboards, Cherry designs and manufactures branded gaming peripherals, computer input devices (mice and headsets), and products for security, point of sale and e-Health applications. CHERRY MX switches are considered the industry gold standard in keyboard switch technology and the company is one of only two certified providers of secure telematics infrastructure for the German healthcare market.
Rolf Unterberger, Cherry’s Chief Executive Officer, said, “We are delighted to partner with Argand Partners to support Cherry’s next phase of growth. Our business has gone from strength to strength, and we look forward to continued investment in our people, research & development and manufacturing technology. The positive trends currently accelerating the adoption of PC gaming and the digitalization of healthcare make it an exciting time to be Cherry.”
Tariq Osman, Partner and Co-Founder at Argand, commented, “Cherry is a great fit for our firm and investment strategy. The company has a clear leadership position, significant brand equity, and is an innovator in its industry. We look forward to partnering with Cherry’s management team to pursue an accelerated global growth strategy, including strengthening Cherry’s U.S. presence, capitalizing on the e-Health business opportunity, and prioritizing continued innovation, research & development and highly strategic M&A on a global basis.”
About CHERRY
CHERRY, headquartered in Auerbach/OPf., Germany, is a world-leading manufacturer of computer input devices with a focus on office, gaming, industry, security, eHealth solutions and switches for mechanical keyboards. CHERRY employs approximately 400 people in production facilities and subsidiaries in Germany, France, Great Britain, China (Mainland, Hong Kong, Taiwan) and the USA. Since its foundation in 1953, CHERRY has stood for German quality products designed in Germany and developed specifically for the needs of its customers. In December 2019, the company opened a new headquarters in Auerbach, Germany, reflecting CHERRY's new values of Workplace of the Future and New Work. CHERRY brings high quality, passion and design to the world of work, addressing end customers and companies alike who demand high performance, durability and functionality from their computer input devices.
About Argand Partners
Argand Partners is a New York and San Francisco Bay Area-based middle-market private equity firm that targets market-leading industrial companies with under-resourced and unrealized global growth potential. Argand companies have strong market share, sustainable competitive advantages, defensive characteristics, and significant growth potential supported by secular demand trends. The firm focuses on specialty manufacturing and business services companies with a strong U.S. nexus (headquarters, primary growth market, or majority of revenue) and often significant global operations or expansion opportunities.
Argand is a growth-oriented control investor that seeks complex, often contrarian, situations in order to buy well. The team employs a hands-on approach to partnering with management to create value across the investment lifecycle and help portfolio companies achieve their full potential as world-class, industry-leading companies.
Further information on Argand can be found on the website:
www.argandequity.com
For more information about Argand Partners or the Cherry transaction, contact: Tariq Osman Partner & Co-Founder Argand Partners (212) 588-6470 tosman@argandequity.com