Cewe announces the acquisition of Cheerz, the fast-growing European leader in online photo printing with a focus on mobile consumers, for an enterprise value of 45 million euros.
Clipperton acted as sole financial advisor to Cewe.
- Clipperton advises a blue-chip German client on a French acquisition, leveraging his pan-European footprint
- This acquisition is the third deal for Clipperton in the space of online photo printing, following the sale of Photoweb to Exacompta-Clairefontaine and the subsequent acquisition of Lalalab by Photoweb
- Consumer Internet is more than ever a key focus for Clipperton and this transaction strengthens its expertise in the field
Paris/Berlin – March 2018 – Leading European corporate finance firm Clipperton is proud to announce it acted as sole financial advisor to Cewe – the leading European online photo printing company based in Germany, with a staff of 3,500 employees and present in 24 European countries – in the acquisition of Cheerz.
Founded in 2012 by Antoine Le Conte and Aurélien de Meaux and backed by European venture capital funds Serena Capital and Aplus Finance, Cheerz, initially enabling its customers to print photos from their mobile or social networks in square format, quickly diversified its product portfolio and became the European specialist in mobile-to-print. Cheerz now offers an easy and quick way for its users to print a wide range of products, including photo albums, magnets, calendar directly from their smartphone.
Cewe expects this acquisition to generate additional growth in the mobile business of the group and to strengthen its activities in France and Southern Europe. Cewe will also benefit from the expertise of Cheerz in mobile development and expects synergies in the areas of sales, production and logistics.
Dr. Christian Friege, Chairman of the Board of Management of Cewe, said: “It was the clear focus on customers, the user-friendly concept, the positioning as a premium brand and the technological know-how of the strong, entrepreneurial management that convinced us.”
Antoine Le Conte and Aurélien de Meaux, co-founders of Cheerz, commented: “We are delighted to have found a partner in Cewe who stands for the highest product quality and scalability, thus being in a position to give maximum support to our dynamic growth in France and Southern Europe. We wish to grow into a new dimension with a real European champion – quickly, easily and directly.”
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Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology & Internet industries, advising innovative companies on M&A transactions, debt financings and equity offerings. With offices in London, Paris, and Berlin and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 17 years, the team has successfully completed more than 300 high profile transactions globally.