Miguel Pina Martins stands down as CEO of Science4you

After 16 years as CEO and founder of the educational toy manufacturer Science4you, which has been controlled by private equity company Athena for almost two years, Miguel Pina Martins, has stood down to be replaced by the current “partner” and “Head of Sales” of the company, Filipe Ramos.

Science4you, founded by Miguel Pina Martins in 2018, enjoyed a turnover of €20 million and had two dozen stores and 300 workers in 2019, but sales began to fall, with the pandemic severely impacting the educational toy manufacturer’s business.

After the failure of its stock market floatation, which was slated to take place a few months before Covid 19 hit in 2020, Science4you closed 2020 with a turnover of only €5.4 million, accumulating losses of €18.7 million in the last three years.

Technically bankrupt, the company ended up being acquired at the end of 2022 by private equity firm Atena Equity Partners. The founder remained on as CEO with a small shareholding in the company which appointed a new chairperson, Joe Santana.