Month: January 2010

Orthex, a portfolio company of Intera Fund I, continues to strengthen its position as one of the Nordic market leaders in plastic household products with the acquisition of Hammarplast Consumer AB, a Swedish plastic household products manufacturer. The acquisition sees Orthex double its turnover to some €56m and increase its number of employees to around 300.

“This purchase is a sound next step for our business, as we seek growth in segments that are the most logical fit with us. Hammarplast is an interesting and extremely well-managed business with products and know-how that make it an ideal addition to Orthex. What we have here are two highly successful businesses made even stronger through this acquisition. Hammarplast’s extensive distribution and sales network will also allow us to roll out our international expansion plans,” said Alexander Rosenlew, CEO at Orthex, commenting on the purchase.

The Finnish private equity firm Intera Equity Partners, which in 2009 acquired a majority stake in Orthex from Kari and Tiina Kallonen, is a major contributor to the company’s growth strategy. In January 2010, Orthex doubled its turnover through the acquisition of the Sweden-based Sveico AB, a leading Nordic kitchen utensils manufacturer.

“The recent acquisition of Hammarplast Consumer following a year after the acquisition of Sveico is integral to our growth strategy. The expansion will bolster our performance and we can see major potential for leveraging genuine synergy benefits through our sales, research and development, distribution and supply chain functions,” commented Martin Grotenfelt, partner at Intera and board member of Orthex.

For additional information:
Martin Grotenfelt, Intera Equity Partners, Partner, tel.  +358 50 2145

Hammarplast Consumer AB was founded in 1947 and has today established itself as one of the leading Nordic manufacturers of plastic household products. Harmmarplast’s domestic storage systems are marketed internationally under the SmartStore brand and its Home and Garden product lines are marketed in northern Europe under the Hammarplast brand. The company has some 160 employees and its revenues amount to approx. €30 million.

Orthex Group is a leading Nordic designer, producer and marketer of household products. The group consists of two companies, Sveico and Orthex, and its products are sold under four well-known consumer brands: Sveico, Gastromax, Kökskungen and Orthex. The revenue of Orthex Group amounted to approx. €26 million in 2010.

Oy Orthex Ab, a portfolio company of Intera Fund I, acquires 100% of the shares in Swedish Sveico AB. Sveico is one of the leading producers of kitchen utensils in the Nordic region.

Intera’s portfolio company Orthex grows through a merger with Sveico AB, a Swedish producer of kitchen utensils. The revenue of the combined entity will exceed €25m and the number of employees will amount to over 130.

The merger with Sveico is a part of Orthex’s strategy to become a leading North European supplier of affordable household products. Orthex’s CEO Kari Kallonen comments: “Acquisition of Sveico creates plenty of opportunities both in Finland and Sweden as well as in the other Nordic countries. We have practically no overlapping products and the brands of the both companies are well known.”

“Year 2009 was the best year ever for Orthex both in terms of revenue and profitability. We have a strong and determined strategy in place which will now start to become visible to the customers of Orthex and Sveico”, says Martin Grotenfelt, Partner at Intera and a Board Member of Orthex.

Sveico AB was founded in 1914 and is currently one of the leading producers of kitchen utensils in the Nordic region. Sveico’s products are sold in almost all the major central chains and discount stores in Sweden, Norway, Denmark and Finland. The company has three familiar consumer brands: Sveico, GastroMax and Kökskungen. Sveico has operations in Gnosjö and Vesterås, Sweden.

Oy Orthex Ab is a Finnish producer and marketer of household plastic products. Orthex’s products are versatile and affordable every-day household items. The company was established in 1956 in its current premises in Lohja, Finland. During the years, Orthex has grown from a small workshop to the largest producer of household plastic products in Finland. Orthex’s revenue in 2009 amounted to approx. €12.5m.

For additional information: Martin Grotenfelt, Intera Equity Partners, Partner, tel. +358 50 2145