Flokk acquires Connection Seating Ltd.
Oslo (Norway) 7 March 2022 - Triton portfolio company Flokk, a leading European manufacturer of office seating products, acquires UK-based Connection Seating Ltd.
With the acquisition, Flokk is expanding its footprint in the strategically important UK market. It also underpins its international growth strategy by doubling revenues in the key UK market to approximately EUR 30 million. Founded in 1997, Connection is headquartered in Huddersfield and has showrooms in Manchester and London.
“This transaction is another example of how Flokk consolidates the fragmented European office seating market through targeted and value-creating acquisitions of attractive companies and brands. Connection has a strong position within collaborative furniture, including rooms and booths, and excellent channels to designers and architects in the project market. This complements Flokk's offering and underlines our position as a seating solutions provider. The acquisition also gives us a manufacturing presence in the UK, and we see substantial commercial synergies and mutual benefits from Connection joining the Flokk group” says Lars I. Røiri, CEO of Flokk.
Through a combination of organic growth and acquisitions, Flokk has been transformed from a Scandinavian player to a European market leader within office seating, with a strong foothold in the US market, and annual revenues of more than EUR 300 million.
About Flokk
Flokk is the leading manufacturer of high-quality workplace furniture in Europe, developing a growing family of brands. The company is the proud owner of the HÅG, RH, Giroflex, BMA, RMB, Offecct, Profim, Malmstolen and 9to5 brands. About 1,800 employees work together to achieve Flokk's vision: Inspire Great Work. The company’s head office is in Oslo, Norway, with main production units in Røros (Norway), Nässjö (Sweden), Turek (Poland), Guangdong (China) and Hawthorne (USA). The company has additional sales offices in Denmark, Germany, Belgium, the Netherlands, UK, France, Switzerland, Singapore, USA, Canada, China and Australia. Flokk products are sold in more than 80 countries worldwide. In addition, Flokk has a 40-year history of structured focus on the environment, enabling the company to be a leader in the development of sustainable furniture. For more information, please visit www.flokk.com
About Triton
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer and healthcare sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.
The 50 companies currently in Triton’s portfolio have combined sales of around EUR 18.1 billion and employ around 104,500 employees.
For further information: www.triton-partners.com
