Scandinavian Business Seating signed agreement to acquire Offecct
Oslo (Norway) / Tibro (Sweden), 8 May 2017 - Triton Fund IV portfolio company Scandinavian Business Seating (SBS) has signed an agreement to purchase Offecct AB, a Swedish producer of furniture for the modern meeting place. The purchase price has not been disclosed.
Offecct is based in Tibro and has approx. SEK 156 million in sales with distribution in over 50 countries. The company offers a wide range of sustainable, functional and aesthetically attractive furniture targeted towards three main end customer segments: Meeting & Active Workplaces, Lifestyle and Community. Offecct works together with leading designers and architects from around the world to create furniture for meetings between people that gives flexibility, inspiration and fosters creativity.
"The acquisition of Offecct will complement SBS’ current product portfolio and in particular strengthen the company’s offering for activity based workplaces. We believe that Offecct and SBS have many complementary resources and skills, and we look forward to support Offecct in further growing the business", said Thomas Hofvenstam, Investment Advisory Professional and Head of Triton Advisers (Sweden) AB, an adviser to the Triton funds.
About Scandinavian Business Seating Group
Scandinavian Business Seating Group (SBS) is a global company involved the design and development of furniture for workplaces, and owns the five brands HÅG, RH, BMA, RBM and Malmstolen. The company's products are distributed both directly and via dealerships globally. The headquarters are in Oslo with production units in Røros (Norway), Nässjö (Sweden), Zwolle (the Netherlands) and Hunnebostrand (Sweden). SBS's revenues in 2016 amounted to NOK 1.3 billion and the company has 546 employees who all strive for the company's vision of making the world a better place to sit. SBS has been owned by the private equity company Triton since October 2014. The company is headed by Lars Røiri (CEO) and Eirik Kronkvist (CFO).
For further information: www.sbseating.com
About Offecct AB
Offecct AB was founded in 1990 in Tibro by Kurt Tingdal (CEO) and Anders Englund (Design manager). In collaboration with architects and designers from all over the world, the company develops lounge and environment furniture with attractive design, high functionality and durability the modern office environment. The company's revenues in 2016 amounted to SEK 156 million and its products have a presence in 56 different countries. In 2016 Offecct employed around 80 employees, of which the majority were based at the company's 20,000 m2 production facility in Tibro, Västra Götaland County in Sweden.
For further information: www.offecct.se
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of around €13.9 billion and around 86,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, Luxembourg and Jersey.
For further information: www.triton-partners.com