Triton signed agreement to acquire Scandinavian Business Seating
Stockholm (Sweden), 7 July 2014- Funds advised by Triton have signed an agreement to acquire Scandinavian Business Seating, one of the leading office chair manufacturers in Europe, which focuses on Scandinavian designed ergonomic swivel and meeting chairs for office use. The transaction is funded by the "Triton IV" fund and has an enterprise value of NOK 1 925 million, and includes all assets of Scandinavian Business Seating. The transaction is subject to approval by the relevant anti-trust authorities.
"Scandinavian Business Seating has potential to benefit from growth in its current Western geographies and its Asian hubs. We are confident that the management team in partnership with Triton will take Scandinavian Business Seating to the next level" said Peder Prahl, Director of the General Partner of the Triton funds.
"As a new owner, Triton can offer a new perspective and enable us to fulfil our strategy, from being the leading office seating supplier in Europe, to becoming an internationally important office seating supplier. We are looking forward to accelerating our growth with the new owner on board," stated Lars I. Røiri, CEO of Scandinavian Business Seating Group AS.
Scandinavian Business Seating, headquartered in Oslo, has become one of the office chair market leaders in the Nordic Countries and Western Europe. The company offers an array of award-winning products through three different brands, HÅG, RH and RBM. It has a history of product innovation in ergonomics and functional designs. Scandinavian Business Seating has approximately 460 employees, production sites in Sweden and Norway and sells through an independent network of distribution parties in ten countries.
For further information: www.sbseating.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses 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 26 companies currently in Triton's portfolio have combined sales of approximately 13 billion Euros and over 55,000 employees.
For further information: www.triton-partners.com