Cherry AG successfully completed its oversubscribed IPO on the Frankfurt Stock Exchange, raising EUR 416 million and achieving a market capitalization of EUR 778 million.
Information on the Target
Cherry AG, headquartered in Auerbach in der Oberpfalz, Germany, is a leading manufacturer of premium mechanical switches for the PC gaming keyboard market. With a focus on high-quality design and functionality, Cherry also produces a variety of computer input devices tailored for sectors such as Gaming, Office, Industry, Security, and Healthcare. Established in 1953, the company employs approximately 500 individuals across its production facilities and corporate offices in Germany, France, the UK, China, Austria, and the USA, contributing to its reputation for "German-quality" products that meet diverse customer needs.
The company recently marked a significant milestone by completing its IPO on the Frankfurt Stock Exchange, trading under the ticker C3RY, which highlights its status as a key player in the global gaming hardware market.
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Industry Overview in Germany
The gaming industry in Germany has witnessed substantial growth in recent years, underpinned by numerous trends including the increasing popularity of esports, the expansion of gaming genres, and
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Argand Partners, LP
invested in
Cherry AG
in 2021
in a Public-to-Private (P2P) deal
Disclosed details
Transaction Size: $416M
Enterprise Value: $778M
Equity Value: $778M