Bluegem III partners with Petromax Group
Bluegem enters outdoor consumer market: Pan European private equity investor partners with Petromax Group
27th SEPTEMBER 2022
Consumer specialist private equity firm Bluegem today announces that the third Bluegem Fund has made a majority investment in the Petromax Group, an outdoor hobby and lifestyle Group comprised of two renowned heritage brands, Petromax and Feuerhand. Headquartered in Germany with international distribution channels the Petromax Group is recognised for a wide product assortment of high quality outdoor equipment.
The entrepreneurial couple Jonas and Dr. Pia Christin Taureck, the current Co-CEOs and shareholders of the company, will reinvest into the business and remain as Co-CEOs to lead its expansion in the coming years.
The Petromax Group was established in 2005 and has since then captured the unique opportunity of combining two traditional best in class complementary outdoor brands.
Petromax, founded in 1910, is the German brand for self-sufficient adventures in nature offering products for outdoor living, cooking, bushcraft and lighting solutions.
Feuerhand, founded in 1893, is a brand veteran of patio and garden culture with lighting, fire bowls and convivial outdoor products. Cornerstone of the product range are the iconic Hurricane Lanterns of the Baby Special 276 series.
The Petromax Group heritage brands have a differentiated and superior value proposition, producing German engineered durable products. Petromax and Feuerhand both benefit from a large and loyal community of brand lovers with a long history of engagement and repeat purchase behaviour. The group has strong in house R&D capabilities in new product development leveraging on a highly skilled team who continue to expand the product range.
Commenting on the transaction, Constantin Rojahn, Investment Director, at Bluegem said:
“We have been impressed by the tremendous success of Petromax in building a leading outdoor lifestyle offering and we are thrilled to leverage our consumer expertise to support the team as they further scale the business while providing equipment for adventurers globally to pursue their passions.”
Jonas and Dr. Pia Christin Taureck, Founders and Managing Director of Petromax Group said:
“With Bluegem we have found a strong and experienced partner to drive healthy growth for the long-term. Bluegem bring a top-performing network with international expertise in building premium brands. Together we look forward to expanding our leading market position further and building even stronger teams and brands.”
The Petromax Group is the fifth investment made by Bluegem’s third generation fund which held its final close in February of this year and is already invested in a diversified portfolio of resilient consumer subsectors which are underpinned by megatrend tailwinds. The transaction represents the first investment by the Fund into the outdoor hobbies subsector and brings further diversification to the Bluegem III portfolio, which is already invested in the following:
Nutrimuscle: a fast growing digital brand of clean sports nutrition products and wellbeing supplements
BeautyNova Group: a leading Italian professional haircare group
Beaba Group: two premium international brands (Beaba and Childhome) leading in the Baby Care sector
Ecooking: skin care products developed with a strong focus on ingredients and efficacy
About Bluegem Capital Partners
Bluegem is a specialist consumer-focused private equity firm that partners with management teams and founders to accelerate growth of strong consumer brands. With a track record of investing across Europe through different economic cycles, industry and market conditions, Bluegem have refined their investment strategy to focus on resilient consumer segments benefiting from secular megatrends, including Beauty and Personal Care; Household Care; Food and Beverage; Baby Care; Pet Care; Home Décor; and Hobby and Craft. More information about Bluegem can be found at www.bluegemcp.com.
About Petromax Group
The Petromax Group is one of the leading suppliers of high quality equipment supporting any kind of independent outdoor lifestyle. Headquartered in Magdeburg, Germany, the group is comprised of two renowned heritage brands, Petromax and Feuerhand. Petromax, founded in 1910, is the German brand for self-sufficient adventures in nature offering traditional yet cleverly designed products for outdoor living and cooking, bushcraft und lighting. The product range is characterised by the highest possible level of quality, durability and well-thought-out details. Feuerhand is a brand veteran of patio and garden culture. Cornerstone of the product range is the iconic Hurricane Lantern dating back to 1893. The timeless portfolio around light, fire and convivial pleasures outdoors has been further developed since the brand has become part of the Petromax Group in 2014.
The entrepreneurial couple Jonas and Dr. Pia Christin Taureck has established the values of tradition, innovation and quality as both goal and motivation for constantly developing the brands further. Since its foundation in 2005 the group has gained recognition as a leading player in the outdoor industry with strong R&D capabilities and international distribution channels.