Framery was founded in 2010 to fulfill the globally growing need for quiet spaces in the open offices. Nowadays Framery is an industry trendsetter and the globally leading supplier of the office booth solutions. Framery success is based on superior technical knowhow, ability to innovate and dynamic working culture. The company has been able to multiply its turnover in two years and raise international sales to 90 percent of sales in 2017. At the time of the investment, Framery had revenues of 40 million euros and some 160 employees.

 

Vaaka invested in the 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 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. To support growth story, new board members with growth supporting qualities were selected in Framery’s board. The new board will 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 joint target is to multiply Framery turnover in few years by expanding global sales network and develop Framery brand into strong and well known position in the growing office booth segment.

Company

Framery

Investment

3/2018

Net sales

40 MEUR (2017)

Deal team

Ilkka Pentikäinen, Ville Koskenvuo, Tuomas Siponen