Rapunzel of Sweden (”Rapunzel” or the “Company”) and Valedo Partners Fund II AB (”Valedo”) have entered into a strategic partnership for continued expansion and growth. The partnership secures additional expertise and resources for Rapunzel in order to establish the Company as a leading international company and brand within hair extensions and related services and products.
Rapunzel was founded 2007 in Umeå, Sweden, by Ida Backlund and Stefan Löfgren and is a rapidly growing company offering hair extensions and related products and services. Through the Company’s focus on quality and service, Rapunzel has established a leading position within the e-commerce segment for hair extensions in the Nordics. Sales predominantly stem from the Company’s online store but also from the relatively recently established company owned hair salons located in Umeå, Stockholm, Gothenburg and Malmö. Customers are mainly private individuals but the Company also sells to independent hair salons and resellers. Main markets are Sweden, Finland, Norway, Denmark and Germany, however, the Company sells globally. The Company has in recent years experienced strong organic growth and sales amounts to approximately SEK 120 million.
“I am very proud of our dedicated employees, and grateful for the fantastic feedback we receive from customers all over the world. We have managed to create what many thought was impossible – a global hair extension brand. With support from a new strong partner in Valedo and the experience and expertise from our new board, I am excited to continue developing Rapunzel and take the company to the next level. Together we are now on a very exciting journey that will bring new opportunities for employees, customers and partners. As founder, I am happy to welcome a group of key employees as co-owners.”, says CEO and founder, Ida Backlund.
Alongside Valedo, previous owners, key employees and board members will invest in the Company. Arthur Engel (former CEO of Gant and Björn Borg) has been appointed Chairman and Ida Backlund (CEO and founder of Rapunzel) and Stefan Löfgren (Purchasing Manager and founder of Rapunzel) have been appointed board members.
Terms and conditions of the transaction are not disclosed.
| For further information on Rapunzel, please contact: Ida Backlund ida@rapunzelofsweden.com |
For further information on Valedo, please contact Valedo’s media contact: Hanna Bilir, Brunswick Group +46 709 16 68 66 hbilir@brunswickgroup.com |
About Valedo:
Valedo is an independent Swedish private equity group investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential. www.valedopartners.com