Framery was founded in 2010 to fulfill the globally growing need for quiet spaces in open offices. Nowadays Framery is an industry trendsetter and the globally leading supplier of the office booth solutions. Framery’s success is based on superior technical knowhow, ability to innovate and dynamic working culture. The company has been able to multiply its turnover in the past two years and increase international sales to 90 percent of sales. At the time of the investment, Framery had revenues of 40 million euros and some 160 employees.

 

Vaaka invested in Framery to speed-up international sales when Framery is rapidly scaling up international sales network to fully exploit the fast growth of the office booth segment. Framery’s management and Vaaka deal team created a blueprint to expedite Framery’s international growth by investing in international sales, product development and branding enabled by Vaaka’s resources and know how. A new Board was recruited to support growth, and it consist of 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. The new business plan target is to multiply Framery’s turnover in few years by expanding its global sales network and by developing Framery brand into a globally well-known position in the growing office booth segment.

Company

Framery

Investment

3/2018

Net sales

64 MEUR (2018)

Deal team

Ilkka Pentikäinen, Ville Koskenvuo, Tuomas Siponen