Procuritas Sells SOFACOMPANY To Lars Larsen Group
STOCKHOLM–(BUSINESS WIRE)–Procuritas Capital Investors VI (“Procuritas”) has sold SOFACOMPANY, the iconic Danish sofa brand, to the Danish Lars Larsen Group. Founded in 2012, SOFACOMPANY was bought by Procuritas from the founders Cathrine and Christian Rudolph in 2017.
Utilising its decades of value creation experience, Procuritas has worked closely with management to transform and grow the company resulting in revenue more than doubling to DKK 545 million (€73 million) during its period of ownership.
Initiatives have focused on building a scalable direct-to-consumer business, developing state of the art e-commerce capabilities and fueling growth with higher and more efficient marketing spend. Procuritas has also supported SOFACOMPANY’s geographical expansion into new countries, as well the addition of new distribution channels such as third party platforms, resulting in increased growth and margins.
Mattias Feiff, Co-Managing Partner at PCI V Advisor AB, advisor to Procuritas Capital Investors V commented: “We are delighted to have sold SOFACOMPANY to the Lars Larsen Group, which is a great fit for the business to complete its next stage of growth. During the course of our ownership we have overseen transformational growth through building up the company’s e-commerce capabilities and shifting its focus from wholesale channels to a direct-to-consumer brand as well as significant geographical expansion. We are very grateful to Henrik Andersen and the management team for building the business into the fantastic shape it is in today.”
Henrik Andersen, CEO of SOFACOMPANY commented: “The passion for business and hands-on approach of the Procuritas team has been pivotal in helping us achieve such phenomenal growth. Our strategic alignment on elements such as sustainability, customer experience, expansion and not least the ambition to build a strong and lasting brand, has absolutely made the difference to our success and ability to attract such a great new owner in the Lars Larsen Group.
About Procuritas
Procuritas is a private equity investor, focused on investing in and growing Nordic mid-market companies. With a passion for business, hands-on active ownership approach and more than thirty-year record from a large variety of transactions, it has supported more than 45 companies in accelerating their growth and realizing their true business potential. As owners, Procuritas is characterized by its enthusiasm, commitment, and strong belief that it is an ally in the quest to build strong and sustainable businesses. Read more at www.procuritas.com.
About SOFACOMPANY
SOFACOMPANY is a Danish furniture brand on a mission. Our goal is to challenge a conservative furniture industry by giving the customers beautiful, high-quality Danish design at a fair price point. This is made possible by taking full ownership of the value chain and an online first approach. Thus, coupling a great product with a relentless focus on great customer experiences, SOFACOMPANY has enjoyed tremendous success since inception. Why do we do it? Because everyone deserves to feel great at home.
About Lars Larsen Group
Lars Larsen Group is owned by the Brunsborg family, descendants of JYSK founder Lars Larsen. The Group owns companies within a number of business areas including furniture, golfcars, restaurants and hotels and is also an active investor in equities, funds and real estate.
Contacts
For further information, please contact:
Mattias Feiff
+46 850614300 / [email protected]
Media – Kepler Communications
Charlotte Balbirnie
+44 7989 528421 / [email protected]
Caroline Villiers
+44 7808 585184 / [email protected]
