Credo offloads Fora Form for NOK 67m

Credo acquired a 51% stake in Fora Form in 2007, alongside the company's employees and owners. Since investing, Credo has increased the company's operational efficiency and invested in product development, resulting in a renewed collection.

Company
Headquartered in Orsta, Fora Form has been operating for more than 84 years and has developed into a specialist contract furniture maker. This includes manufacturing furniture for offices, conference and meeting rooms, canteens, receptions, waiting areas and auditoriums.

The business is divided into three separate lines. The standard business line manufacturers furniture for public areas, which accounts for around 70% of sales. The culture business provides seats and chairs to auditoriums, and accounts for around 20% of sales. The health and care division focuses on contract manufacturing for the Japanese market and accounts for 10% of sales.

In 2012 the company recorded sales of NOK 125m and operating profit of NOK 12m. Fora Form employs 70 people.

People
Trygve Aasland is CEO of Fora Form. Anders Rothstied is CEO of Lammhults. Jon Bjørstad is the partner at Credo responsible for the deal.

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