Clearwater International Denmark advises DKA on its sale of KA Interiør to private equity-backed Vivonio Furniture Group

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Clearwater International Denmark has advised on the sale of KA Interiør (KAI), a leading Nordic provider of private label made-to-measure wardrobe and cabinet solutions, backed by DKA Capital, to Vivonio Furniture Group GmbH (Vivonio), backed by private equity fund Equistone. KA Interiør is the last portfolio company in DKA II (Dansk Kapitalanlæg), which is owned by the management of DKA Capital and leading institutional investors Argentum, Nordea Liv & Penion and Danica Pension and managed by DKA Capital.

Founded in 1991, all of KAI’s products are made-to-order, incorporating bespoke design elements and specifications of customers. KAI sells its private label products through leading kitchen stores as well as DIY retailers and other furniture stores. KAI provides a full service solution, from concept development, retail support and bespoke software services. The company has based its success on strong customer relationships alongside its high quality manufacturing, assembly and fast delivery. KAI solutions are sold in more than 500 stores across the Nordics and adjacent markets.

Munich-based Vivonio is a strategic furniture alliance in the European furniture market. Its brands include SCIAA – a manufacturer of living room and bedroom furniture for self-assembly; Noteborn – a specialist in wardrobes and cupboards; and MAJA – a specialist in the production and sale of flat-pack furniture and also one of the largest suppliers to IKEA. With five subsidiaries, six factories and over 1600 employees, the group generated an annual turnover of over €350m.

The Clearwater International team consisted of Partner Andreas Lauth, Director Stig Windeløv and Senior Associate Casper Bech Christensen.

Allan Meyer, CEO and Owner, KA Interiør said: “KAI and Vivinio are a perfect match and we look forward to becoming part of a reputable and strong player in the furniture market. Vivonio is well-established across the European market and we see clear synergy opportunities between us and the other companies in the portfolio. We expect to benefit greatly from Vivonios management expertise and the network, sales channels and competencies of the other subsidiaries.

When speaking about his experience in working with Clearwater International, Allan Meyer said: “It has been great working with Clearwater and having their expertise and guidance throughout the process. The teams’ support and advice on how to present the case, both strategically and financially, has been invaluable. Through thorough preparations Clearwater succeeded in making KAI present itself in the best possible way at our management presentations, ensuring everyone had equal involvement.”

Lars Dybkjær, Managing Partner, DKA Capital added: “We are delighted to have been advised by Clearwater International. The team held great knowledge of and access to relevant potential buyers, broadening our options. I would like to thank the Clearwater team for their organisation and committed approach throughout an interesting, and at times, hectic process. The exit of KAI marks the end of an exciting journey with DKA II (Dansk Kapitalanlæg), with KAI being the last remaining company in our portfolio.”

Stig Windeløv, Director, Clearwater International commented: “We’re pleased to have advised on this cross-border transaction, bringing together two major players in the furniture market. KAI’s strong Nordic market position and agile production line, coupled with Vivonio’s strong track record in supporting growth-focused furniture companies, will no doubt lead to a successful partnership. It has been an honour to advise DKA on the sale of their last portfolio company in DKA II (Dansk Kapitalanlæg) enabling them to close their fund.