Website:
www.aspenbad.se
Download case study:
Aspen.pdf
Valedo invested in Aspen in 2007 and an accelerated development phase was initiated. With Valedo as owner, Aspen has developed into a leading provider of bathroom furniture in the Nordic region. Aspen has made large investments in marketing and sales in new geographic markets and further strengthened its successful product offering through product development.
Aspen was founded by Jan Asplund in Jönköping in 2002. Jan, who has a background within the bathroom retailer market, identified a need for products with an attractive design, high quality and innovative functionality. Jan successfully managed Aspen as CEO and in 2006 Aspen was awarded Dagens Industri’s “Gasellföretag” in the Jönköping county and in 2007 received “Guldstickan” for the best marketing within the region. Valedo acquired a stakehold in Aspen in 2007 alongside Jan Asplund and an accelerated development phase was initiated.
In order to make Aspen a leading provider of bathroom furniture, a number of initiatives have been implemented since 2007:
When Aspen during 2010 had reached the ambitions targets that were set at the time of Valedos acquisition in 2007, an evaluation of a potential divestment was initiated. As the owners were contacted by interested parties to acquire Aspen and there also were signs of a consolidation of the market, the logic was further strengthened for the owners and from the company’s perspective to let a new owner support Aspen in the company’s next development phase. This resulted in Aspen being acquired by CapMan, a public Nordic private equity fund. At the time of the acquisition of Aspen, CapMan also acquired another bathroom equipment company, INR, focused on shower solutions, which gives Aspen and it’s management team an attractive opportunity to further growth through an even stronger customer offering in existing and new markets.
Valedo and minority shareholders have signed an agreement to divest Aspen i Jönköping AB ("Aspen"), to CapMan. Aspen has nearly doubled its sales and tripled its operating profit during the past three years. This development has been based on an organic growth strategy which has strengthened Aspen’s market position as a leading bathroom furniture company
CreVal has entered into an agreement to acquire a majority stake in bathroom furniture company Aspen. The transaction is a partnership with the previous owner Jan Asplund who will remain in the Company as minority owner and in his role as CEO. Aspen is a leading supplier of bathroom furniture in Sweden with sales also
What has been accomplished
With Valedo as an owner, Aspen has developed into a leading provider of bathroom furniture in the Nordic region with a large and rapidly growing dealer network with showcases at more than 350 specialty retailers in Sweden, Norway and Denmark. Aspen has focused on further strengthening its successful product offering through extensive investments in developing new products. Furthermore, Aspen has made large investments in marketing and sales in new geographic markets such as Norway and Denmark, as well as in sales to the project market.