Vaaka Partners invests in Framery to grow soundproof office booths
Staff Writer |
The importance of quiet spaces is growing dramatically all over the world, as open-plan offices have become the norm.
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The Finnish company Framery updated the traditional phone booth for the modern office environment and is now the globally leading supplier of soundproof office solutions. The shared goal of the private equity investor Vaaka Partners and Framery is to accelerate the company’s global growth and to multiply its turnover.
Private equity investor Vaaka Partners’ Buyout Fund III is investing in the Finnish company Framery, which has boldly and open-mindedly entered the international market.
After this investment, Vaaka Partners and its co-investors will own 60% of the company. Framery is a growth company that manufactures soundproof phone booths and meeting pods mainly for the international market.
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.
Growth-minded Finnish business leaders and industry experts to join Framery Board
"We will provide our extensive know-how, a new experienced board and support to accelerate Framery's internationalisation," says Partner Ilkka Pentikäinen from Vaaka Partners.
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 work places, combined with top quality and integrity.
"First and foremost, we were impressed by Framery’s superior technological know-how, its continuous innovation and its dynamic, positive working culture.
"The success of Vaaka Partners’ portfolio companies is based on creating a strong growth strategy, as well as additional resources, know-how and systematic modes of operation,†states Partner Ville Koskenvuo from Vaaka Partners.
The founders of Framery discovered their great idea for a company in 2010, while looking for a way to solve the problem of noise at their workplace of that time. Right from the start, the company’s mission was to combine functionality and design in all its products.
Today, Framery’s top-selling products – soundproof phone booths and meeting pods – are used and appreciated by large international companies, such as Puma, Vodafone, Microsoft and Uber, as well as Finnish companies like Outotec.
Framery’s products are sold via a global dealership network, and the company aims to expand its international sales organization and distribution network.
Framery is a pioneering designer and manufacturer of prefabricated soundproof phone booths and meeting pods, as well as the global market leader. The company was established in 2010, and its turnover was approximately EUR 40 million in 2017.
As an active private equity owner, Vaaka Partners builds significant growth for medium-sized Finnish companies. Companies owned by Vaaka include, for example, Solita, Unisport, Molok and Jungle Juice Bar. ■