With the acquisition of Grythyttan Stålmöbler, another piece of Swedish design history takes its place in the Altor-owned company
Today, Network of Design (NOD), which was founded in 2020 with the goal of establishing a leading network for ambitious Scandinavian producers of design products, has acquired a majority stake in its eighth company, Grythyttan Stålmöbler. The Group already includes seven successful companies: String, Byarums Bruk, Photowall, Wall of Art, Norling Studio, Cooee Design and Kid’s Concept.
Grythyttan Stålmöbler was originally a village blacksmith, established in 1895 in the town of Grythyttan in Sweden’s Bergslagen region. At the Stockholm Exhibition of 1930, the now oh-so-classic A2 armchair was shown for the first time – and has been manufactured continuously ever since. Together with several other classics, the furniture is produced on site in Grythyttan with sustainability in focus. The solid craftsmanship in combination with high-quality materials ensures that the furniture lasts for generations. Today, Grythyttan Stålmöbler is run by the fourth generation of the Lindqvist family, with good profitability and an annual revenue of SEK 67 million in 2021.
“I must admit that we have had our eyes on Grythyttan Stålmöbler since we founded NOD. It is impossible not to admire what Karl and the team at Grythyttan Stålmöbler have built. It is completely unique and we are incredibly proud that they have given us the confidence to manage and develop this heritage together with them,” says Therese Hillman, CEO of NOD. “With this acquisition, we not only add another well-established brand to the group but, together with Byarums Bruk, we will create a unique and comprehensive assortment of outdoor furniture, both for the consumer market and public spaces. We are especially looking forward to exploring the expanded opportunities for digitization and international investment that yet another strong company will bring to NOD.”
“Grythyttan Stålmöbler has existed now for 127 years and is anchored in Grythyttan. The company would not be what it is today if it were located somewhere else. The local anchoring and the company's history are cornerstones that NOD wants to build on, and that has played a major role in my decision,” says Grythyttan Stålmöbler's CEO Karl Lindqvist. “As a group of companies, NOD has completely different muscles to reach new markets in Europe and the rest of the world. The markets are there and now we can locate them together and develop an even stronger offer. If this gives Grythyttan Stålmöbler the opportunity to expand, and in turn creates more jobs, I will be very proud and happy. One thing is certain: Everyone deserves a moment to rest in an A2 armchair," Karl concludes.
NOD continues to see interest among other design brands in joining the network. Growth for NOD will, in addition to acquisitions, come through the organic growth that is now taking place in all of the Group's companies, driven by increased sales both online and internationally.
For more information, please contact:
Therese Hillman, CEO Network of Design, +46 739 48 40 67