String Furniture is a Swedish leading designer brand within modular shelving systems, with a history rooted in the Swedish design classic the String Shelf designed in 1949 by Nils and Kajsa Strinning. String Furniture was founded in 2004 by Pär Josefsson and Peter Erlandsson in close collaboration with the Strinning family, and has grown rapidly over the years.
The Company has expanded geographically throughout the years and is now available in large parts of the world. Strong markets include, apart from Scandinavia, Germany and Japan. String Furniture collaborates with well renowned designers in the industry, and has expanded the product portfolio over the years, introducing additions to the systems as well as new product lines. In 2020 String Furniture had revenues of 330 million SEK, and continues to grow at a fast pace.
Altor Equity Partners acquires String Furniture as the first building block in a designer brand house within the consumer space, Network of Design. The current owners remain with a significant ownership stake post transaction and will continue to take part in the Company’s evolution going forward, together with Altor.
”Clearwater assisted us during the fall in a structured and well organised process where we evaluated a number of buyers from certain different standpoints and criteria. The team was with us in everything from start to finish including production of process materials as well as Due Diligence and negotiations.
We decided for Altor and their new investment Network of Design where we look forward to being part of shaping a prominent house of brands within design.
Using Clearwater as our advisor was a natural choice as we felt that they were competent, down-to-earth and trustworthy. They were pragmatic and honest about what was expected of us during the process and what the result would be, and showcased a strong track record in our segment as well as an extensive international network.
We thank the Clearwater team for a well-managed process and a good collaboration!”
Pär Josefsson och Peter Erlandsson, Grundare, String Furniture