Custom furniture producer Sarkop raised equity, targets Sweden and Norway
Custom furniture producer Sarkop raised new equity in order to expand to Swedish and Norwegian markets. New shareholders include Toivo Annus, one of the owners of venture capital fund Ambient Sound Investments, and the Tammo family. Nordic CF Advisory acted as financial advisor to Sarkop.
Wooden furniture design, production and installation company Sarkop is specialised in producing hotel furniture (e.g. Radisson Blu, Scandic and Park Inn hotels), but has also furnished many other public spaces, including Burger King restaurants, the world’s largest cruise ship Allure of The Seas, the Finnish National Theatre, Swedbank’s offices etc.
According to Jako Kruuse, Partner of Nordic CF Advisory, Sarkop’s expansion plans required stronger capital structure and the involvement of a long-term investor with solid background. “I believe that after this transaction Sarkop is in a good position to expand its business in Scandinavia both organically and by mergers,” noted Jako Kruuse.
“We were forced to shift our focus from the domestic market to export at the beginning of economic crisis and we have reached approximately 90% export share in recent years. Now, after having achieved leading position in the Finnish market, further expansion to Sweden and Norway is a logical step,” said Priit Kerma who continues to manage the company together with Ermet Tari as majority shareholders.
“Sarkop has a very strong client portfolio and references – strengths that can be successfully used in expanding in Scandinavia and beyond. We see strong growth potential in Sarkop,” added Herty Tammo, representative of the investors’ group.
Nordic CF Advisory is an independent Estonian investment banking company providing corporate finance services with individual approach and solutions. NCFA is focused on M&A advisory, business valuations and capital raising projects.
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