On 12 November 2020, Ergon Capital Partners III S.A. completed its sale of the Keesing Media Group to BC Partners.

Ergon Capital is a mid-market investment company with over €1.0 billion of assets under management from select European institutional investors and families. Ergon makes equity investments in leading companies with a sustainable competitive position in attractive niche markets located in the Benelux, France, Germany, Italy and Iberia. Keesing Media Group is the biggest puzzle and braintainment company in Europe, producing more than 100 million puzzle books a year. Since its foundation by Amsterdam journalist Isaac Keesing in 1911, the company has grown into the market leader in print, online and app puzzle formats. This transaction will support ambitious growth plans for the Keesing Media Group, which include organic growth initiatives in its existing countries (such as France, the Netherlands, Germany and the UK), as well as ongoing consolidation of the European market and entry into new continents.

Please find the Ergon press release here. Media coverage included Het Financieele Dagblad, NRC and Bloomberg.

The core Baker McKenzie team that advised Ergon Capital consisted of Mo Almarini, Joost Polman and Max Nederlof. Furthermore, many other colleagues from the Amsterdam office and the Brussels, London, Stockholm, Madrid, Paris, Dusseldorf, Warsaw, Chicago and Luxembourg offices assisted Ergon Capital throughout this transaction.

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