Valedo has entered into an agreement to acquire a majority of the thermal binding company Bindomatic. The transaction is made in partnership with previous majority owner Sture Wiholm who will retain a significant minority stake. Bindomatic is a leading global company in the market for thermal binding of documents and presentations. Through Valedo’s investment, the company will gain access to additional resources in terms of capital and competence to drive growth and development of the operations.
Bindomatic, headquartered in Stockholm, develops machines and covers for binding of documents and presentations with high quality targeting copier and printer users. The company is present globally with more than 95% of sales outside of Sweden and with subsidiaries in Portugal, Germany and the USA. Bindomatic has a solid market position based on a broad product portfolio, co-operations with leading copier manufacturers as well as innovative applications. Bindomatic sales in 2007 were SEK 117 million with strong profitability.
”It is with great pleasure I welcome Valedo as the new majority owner and I look forward to our future cooperation as I remain a significant minority owner. I am convinced that Valedo will be a valuable support for future growth and expansion. I share Valedo’s vision and positive view on Bindomatic’s future development and possibilities.” says Sture Wiholm, Bindomatic
”The binding market is expected to show a very healthy growth in the coming years and Bindomatic, with its strong product offering and reputation of efficient and high quality products, has good possibilities to achieve future growth. We look forward to working together with the management in the continued expansion and development of the business.” say Nils and Per Forsberg, founders of Valedo
Valedo is an independent Swedish private equity fund with a committed capital of SEK 1 billion, investing in small and mid-sized high quality companies in the Nordic region. Bindomatic is Valedo’s third investment, following investments in Solhagagruppen (private care) and Aspen (bathroom furniture). It is Valedo’s intention to appoint, among others, Jan Olofsson (formerly at Esselte) and Jan Friedman (formerly at Kinnevik) to the Board of Directors of Bindomatic.
Terms of the transaction will not be disclosed.
For additional information, please contact:
|Valedo Partners Fund I AB
Nils Forsberg, +46 (0)8-678 08 50
Per Forsberg, +46 (0)8-678 08 50
Sture Wiholm, +46 (0)8-709 58 00