Switzerland-based Pagani Pens (asi/79688) has inked a deal to acquire German pen supplier Senator, bringing together two big names in the European promotional writing instruments space. The agreement combines the Prodir and Senator brands, though each will maintain their own identity, market positioning, customer relationships and commercial approach.

“For many decades, Senator has been one of the best-known and most respected brands in our industry,” said Giorgio Pagani, owner of Pagani Pens SA. “We are delighted to welcome Senator into our Group. Prodir and Senator complement each other perfectly, both in terms of their market positioning and their corporate cultures. Together, we will further strengthen our innovation capabilities, unlock international growth opportunities and offer even more attractive solutions to customers around the world. Our clear objective is the long-term development and success of both brands.”

The news comes approximately five months after Senator’s parent company, Senator GmbH & Co KGaA, underwent insolvency proceedings after failing to meet its financial obligations. The acquisition will preserve Senator’s production site based in Groß-Bieberau, Germany, along with approximately 120 jobs, the company says.

“The successful completion of this transaction … demonstrates what can be achieved when all parties work together with a solution-oriented mindset and a high degree of professionalism. Within a very short period of time, it was possible to secure an internationally renowned strategic investor that will continue the business, preserve jobs and provide the Senator brand with excellent long-term prospects,” said Julia Kappel-Gnirs, insolvency administrator at Senator. “For a company with such a long tradition, its employees, the entire region and, not least, the creditors, this is an exceptionally positive outcome and clear proof that successful restructuring is possible when sound commercial judgement and entrepreneurial vision come together.”

Pagani Pens leadership say they saw Senator as more than just an acquisition opportunity. “The acquisition enables us to preserve those strengths, safeguard employment and create a platform from which both Senator and Prodir can continue to grow and develop together,” said company leaders.

“We firmly believe that industrial know-how and manufacturing capabilities are strategic assets that must be preserved,” added Rossana Porotti, chief operating officer and co-managing director of Pagani Pens. “This acquisition enables us to safeguard valuable expertise, maintain production close to our customers and support highly skilled employment in Europe. By building on the strengths of each company, we are creating the conditions for Senator and Prodir to continue growing, innovating and investing for the future.”

Headquartered in Cadempino, Switzerland, Pagani Pens develops and sells writing instruments and related technologies. The company’s brands include Prodir, Pigra, Granborgo, mishmash and now Senator.