Private equity investor Vaaka Partners is investing in Framery, the Finnish manufacturer of sound insulated office phone booths and meeting pods. After this investment, Vaaka Partners and its co-investors will own 60% of the company. The shared goal of Vaaka Partners and Framery is to accelerate the company’s global growth and to multiply its turnover.
Significant leap forward for Framery
“Having Vaaka as our partner is a significant leap forward for Framery in terms of implementing our growth strategy. Updated in close cooperation with the Framery management, Vaaka Partners and Vaaka’s industrial advisers, our growth strategy will make fast and accelerated growth possible. As Framery achieves a whole new level in terms of size, we will be able to make good use of the numerous experiences Vaaka Partners and their industrial advisers have had of corresponding situtations in various growth companies,” say Samu Hällfors, Framery CEO and Founder.
Former CEO of Kinnarps joins Framery Board
Growth-minded Finnish business leaders and industry experts will be joining the Framery Board. Members selected for the Board are Mika Sutinen, well-known growth leader from the pet specialty retail chain Musti Group; Timo Toikkanen, expert in management of international sales organizations and one of the people behind Nokia’s growth; Per-Arne Andersson, industry expert and previous CEO of the Kinnarps Group, and Jukka Kurttila, the marketing whizz known from Bob the Robot and Finlayson.
Vaaka Partners will support Framery in strengthening its technological product leadership, brand value and international sales organization. Key role in Framery’s growth and internationalisation plays its innovativeness, courage and talent to design solutions for the evolving requirements of workplaces, combined with top quality and integrity.
Turnover doubled in 2017
The big news come after a phenomenal year for Framery. In 2017, Framery more than doubled its turnover from the previous year to EUR 40 million. Framery has won multiple awards within its industry, and more than 90% of its turnover comes from exports. Framery products are exported to North America, Europe and Asia.
header image: Framery.com ´build your own booth´