Nordvalls acquires Figosystem; one of Northern Europe's most modernly equipped label businesses in the pressure sensitive industry. Figosystem's production facility is located in Kungälv, north of Gothenburg. Nordvalls and Figosystem create a leading Swedish and international label player broadening both the product portfolio as well as geographic coverage for the joint new business. The acquisition increases Nordvalls' turnover to nearly SEK 300 million. The sale was completed on 28 September 2012.
"We are very pleased with the acquisition which is part of our growth strategy. Figosystem complements Nordvalls very well both from a product perspective as well as geographically. The companies have several similarities both in their history and in operations and will fit well together", says Patrik Jenemark, CEO at Nordvalls.
Figosystem has sales of SEK 80 million and is a family company with nearly 50 years of experience of label production. The company was founded by Sture Olsson and has a proud history of innovation in the label printing industry. Figosystem is today one of Northern Europe's most modernly equipped label businesses within adhesive labels, Ticket & Tags and special products. Figosystem is led by Sture Olsson's son, P. Magnus Olsson.
"We have during the past 25 years developed Figosystem to become one of the leading label printing businesses in Sweden and it has been a very exciting journey. We now see Nordvalls as a natural buyer to Figosystem as we stand in front of a new phase in the development. The industry is currently facing a structural change where new label printing groups are formed. Nordvalls is today one of the most established and well regarded companies in the industry and we see several similarities between the companies. Nordvalls is a profitable and well invested company and we complement each other very well", says P. Magnus Olsson, current CEO at Figosystem.
For more information please contact Patrik Jenemark, MD, Nordvalls, telephone: 0046 708 120 200.