Livingstone advised Brafab in the sale to Furinova.
‟This transaction is particularly interesting since it is an entrepreneurial company buying another,” says Thomas Karlsson, Partner at Livingstone. He continues, ‟This is a clear sign that there is a good market for privately owned companies from both a buyer and seller perspective. There is currently a structural transformation ongoing in the furniture business which is partly a result of a generational shift. We will be seeing more business deals like this in the future,” predicts Thomas Karlsson, President at Livingstone.
‟We have been discussing this for quite some time and now all the pieces of the puzzle have fallen into place,” says Benny Nilsson, President and Owner of Furninova. “The acquisition gives Brafab a stable owner who is less dependent on seasonal variations and weather. The acquisition gives Furinova an expansion into the outdoor furniture market.”
Brafab, who have been one of the leading outdoor furniture manufacturers in the Nordic area for the past 80 years, will complete Furninova’s product range.
‟Our philosophy is to offer the market’s widest range of comfortable sofas and seating furniture, different models ranging from the fashionable to the classic in hundreds of variations. And now we can also add outdoor furniture,” says Benny Nilsson.
Today, the Furninova group has 900 employees and reported sales of SEK 500 million in 2009. Together with Brafab’s 40 employees and sales of SEK 280 million, the company will become one of the country’s largest furniture manufacturers.