Clearwater International has advised the owners of Sofacompany and Scandinavian Design, a high growth Danish furniture concept, on the sale to the Swedish private equity fund Procuritas Capital Investors V (“Procuritas”). The founders will remain as significant minority owners and will continue to manage the business.
The company was founded in 2008 by Cathrine and Christian Rudolph-Christensen. It specialises in the design, development and sales of sofas and other upholstery furniture. It started out being a pure play B2B supplier under the name Scandinavian Design, but in 2012 the dynamic couple challenged the existing industry by establishing Sofacompany; an urban and trend-based furniture brand – sold online and targeting and communicating with the customers through social media.
A unique integrated supply chain with a combination of internal designers and upcoming external designers, high-quality production setup in Vietnam and lean marketing and retail setup enables Sofacompany to offer the customers a unique value proposition. Key words are high design content and great quality at affordable prices via a simple and unique business concept: online sales supported by trendy showrooms in the urban areas. Today, Sofacompany is present in 10 countries with 15 showrooms, and in only six years annual sales have increased from €2m to an expected €40m in 2017.
Procuritas is a private equity fund focusing on the Nordic mid-market segment. Procuritas comes with invaluable experience of investing in web platforms based on their investment in Pierce, a leading European online retailer.
The Clearwater International team was led by Partners Lars Thorup and Andreas Lauth with support from Director Simon Bang Mikkelsen and Associate Casper Bech Christensen.