Xindao, a Netherlands-headquartered promo products supplier with offices in Europe, the U.S. and China, has been sold to Gilde Buy Out Partners BV, a European private equity investor that specializes in mid-market transactions.

Albert van der Veen, CEO, Xindao

Announced July 23, the deal’s financial terms were not disclosed. Utrecht, NL-based Gilde did note that Xindao management had “reinvested substantially into the new transaction.”

Gilde purchased Xindao from Perusa Partners Fund 2, L.P., an investment fund advised by Perusa GmbH, which is a German-based independent capital holding company. Perusa had acquired Xindao from its founders in 2017.

Gilde says that it plans to support the strategy that Xindao’s current management team has formulated. The approach focuses on expanding what was characterized as Xindao’s leading market position through high product quality, unique designs and superior service.  

“We are impressed with what the management team has achieved in recent years and are delighted at the prospect of supporting them in accelerating the company’s successful strategy,” said Maurits Boomsma, partner at Gilde Buy Out Partners.

Founded in 1986, Xindao has been producing double-digit growth rates for more than a decade. An integrated supply chain and in-house design team are among the factors that have helped the Rijswijk, NL-based company become what executives say is a pan-European leader in the premium segment, offering top-notch quality control, customization and fast delivery. Over that time, Xindao’s profile in the North American promotional products market has risen too, an ascent reflected in CEO Albert van der Veen making a recent Counselor Hot List.  

“Over the last 10 years we have managed to triple sales and significantly expand our international reach, through continuous innovation in design and services,” said van der Veen. “We are very excited about the next chapter.”

Xindao’s product offerings include everything from mobile tech, drinkware and bags, to umbrellas, coolers, car tools and more. In addition to the Netherlands, the company has offices in Scandinavia, England, Germany, France, Italy, Spain, the United States, Hong Kong and Shanghai. Xindao says it prioritizes corporate social responsibility.