Clearwater International has advised the shareholders of &tradition A/S (&tradition) on its sale to HAY – an established Danish designer and manufacturer of contemporary furniture, accessories and rugs – and Anders Holch Povlsen, Danish businessman and CEO of fashion chain, Bestseller.
Established in 2010, &tradition is a leading Danish lighting, furniture and accessories design company. The award-winning business is known for its unique combination of classics by iconic Danish designers including Arne Jacobsen and Verner Panton – and new designs created in collaboration with internationally renowned designers such as Jaime Hayon and Luca Nichetto. &tradition products are retailed in high-end stores and it has secured contracts in more than 50 countries worldwide.
The Clearwater team was led by Partner Andreas Lauth, with support from Director Jonas Angaard Madsen and Associate Maria Malmborg Christensen.
Andreas Lauth, Partner, Clearwater International said: ”In a short time period, Martin K. Hansen (&tradition Director) has built a high-end design brand, differentiating itself from the New Nordic fashion trend by launching high-end, classic and less fashion driven products by leading designers. In HAY and Anders Holch Povlsen, Martin has found the perfect partners to preserve the high growth rates. At the same time, the constellation secures significant sourcing synergies from the very get-go.”