Cherry, which is backed by Argand Partners, has acquired Active Key, a German maker of hygienic, washable keyboards and mice for medical and industrial end-markets. No financial terms were disclosed.
NEW YORK, May. 10, 2021 – Argand Partners, LP (“Argand”), the New York- and San Francisco Bay Area-based industrials private equity firm, today announced that its portfolio company, Cherry GmbH (“Cherry”), the world’s leading global designer and manufacturer of high-precision keyboard PC gaming mechanical switch technology, has completed the acquisition of Active Key GmbH & Co. KG (“Active Key”), a Germany-based leading manufacturer of hygienic, washable keyboards and mice for medical and industrial end-markets.
Active Key is a leading brand in the development and engineering of specialist keyboards and mice that are used in medical, industrial, point-of-sale and office applications. Its product range includes keyboards that are resistant to dust and moisture, fully sealed keyboards that can be easily sanitized, programmable keyboards, and keyboards with integrated card readers. This acquisition strengthens Cherry’s position as a leading provider of healthcare peripherals.
This transaction represents the second of several strategically valuable bolt-on acquisitions planned for Cherry under Argand’s ownership. Cherry is the world’s leading global designer and manufacturer of high-precision keyboard mechanical switch technology for PC gaming and professional use computing peripheral products. The company designs and manufactures premium key switches for mechanical keyboards, branded gaming peripherals, computer input devices (including mice and keyboards), and products for high-security and point of sale peripheral applications.
The Active Key acquisition brings significant specialist technical and engineering expertise in-house, expands Cherry’s healthcare product portfolio and meets increased customer demand for hygienic and washable computer peripherals. The current environment is driving rising demand for specialized keyboards and mice in healthcare and other industrial settings. This acquisition adds depth to Cherry’s healthcare offerings and will enable future applications of hygienic and washable technology across Cherry’s broader product portfolio and end-markets.
Dino Sawaya, Principal at Argand, commented, “We are delighted to support this strategic acquisition and welcome Active Key into the Cherry family. A deep product portfolio is increasingly important to serve the healthcare sector, and this acquisition strengthens Cherry’s technological and product development leadership, diversifies Cherry’s product portfolio, and enables future applications of hygienic and washable technology.”
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.