Flokk Group has successfully sold Espisa AG to Aeterna AG

Flokk Group has successfully sold its subsidiary Espisa AG to Aeterna AG.

Espisa is a profitable, leading subcontractor for plastic injection molding. The company is specialized in high quality plastic parts for professional large-scale equipment used in various industries. Originally, Espisa was solely a supplier of plastic parts for office furniture to Giroflex but has evolved to become a profitable and versatile supplier for multiple sectors. The company has 50 employees and is located in Koblenz, Switzerland.

In July 2017, Espisa’s parent company Giroflex Holding AG was acquired by the Norwegian furniture group Flokk. With more than 2,600 employees and combined sales of approximately US$374 million, Flokk is the market leader in the design, development and manufacturing of office furniture in Northern Europe. Flokk is backed by the private equity firm Triton. Since Flokk focuses on branded office furniture, they considered Espisa a non-core business and chose to divest the company.

Aeterna is an investment vehicle seeking entrepreneurial investments in companies with an annual turnover of US$10–50 million. The firm is not limited to strengthening the companies' capital base but also adds value through its active and intense operational involvement and extensive network, helping them to realize their full potential.

Oaklins' team in Switzerland acted as the exclusive M&A advisor to Flokk and Giroflex in the entire sale process: preparation of marketing material, identification and approach of potential buyers, due diligence, parallel negotiations with potential buyers and assistance until signing and closing. The transaction included a share deal, a real estate transaction and a commercial agreement.