ALTOR FORMS NOD AND ACQUIRES STRING FURNITURE AND PHOTOWALL – THERESE HILLMAN NAMED CEO AND SUSANNA CAMPBELL CHAIRMAN
Altor has invested in Photowall and String Furniture, to build the foundation for Network of Design (NOD), a network of design companies with strong brands. NOD will be led by the former CEO of NetEnt, Therese Hillman.
NOD will gather companies well positioned for the ongoing shift to online sales in the consumer industry. The company will help the brands take the next step in their international growth journey.
“By establishing NOD we have started our work in forming the leading network for ambitious entrepreneurs in the affordable luxury design space” says Andreas Källström, Partner at Altor. “NOD will have a dedicated management team that will help the group companies deliver on their strategies and bring in additional companies in the partnership. As an owner Altor will also support the team with capital, expertise and experience both in value creation and acquisitions”.
“I feel excited about what NOD is and what it can become. We will bring together a unique set of design brands undergoing rapid growth. We partner with the founders, who continue to be co-owners, and create a design ecosystem where NOD supports in all aspects of their journey”, says Therese Hillman, CEO of the newly established NOD.
The current NOD Group had a turnover in 2020 surpassing 500 MSEK with a strong growth momentum. Photowall is headquartered in Stockholm and offers a wide range of custom wallpapers and prints through its own production facilities since 2006. String Furniture is headquartered in Malmö and offers shelving and storage solutions including Nils and Kajsa Strinning’s iconic design “String”.
“We are thrilled to join NOD and together build a leading design powerhouse. We are convinced that in an ecosystem with other design brands, being able to share expertise, capabilities, and plan together, NOD will lift the potential of each partner company. Together we will revolutionize the industry”, says Pär Josefsson, co-founder of String Furniture.
NOD has appointed a seasoned Board representing collective experience ranging from design to e-commerce to support the group on its growth journey. Susanna Campbell, former CEO of Ratos and active board professional with deep E-Commerce experience, will be Chair of the Board. In addition, Mirkku Kullberg, CEO of Glasshouse Helsinki and former CEO of Artek, Paul Fischbein, active e-commerce entrepreneur, former CEO of Qliro Group and founder of tretti.se, and Magnus Dimert, e-commerce advisor and former CEO of Adlibris, will join the board.
For more information, please contact:
Tor Krusell, Head of Communications at Altor +46 705 43 87 47