Framery to get Vaaka Partners as investor in the company.

Finland Exit 01 March 2018
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Framery, a Tampere, Finland-based company manufacturing sound insulated office phone booths and meeting pods, announced getting into an agreement to sell 60% of the company.

The backers include Finnish private equity company Vaaka Partners as well as other undisclosed private investors, and the objective of the deal is to accelerate the company’s global growth and to multiply its turnover.

The financial details of the transaction remain undisclosed.

At the same time, the company announced adding to the board people like Mika Sutinen, Timo Toikkanen, Per-Arne Andersson, and Jukka Kurttila.

Framery, founded in 2010 by CEO Samu Hällfors, develops and sells phone booths and meeting pods for smart offices. The company is on a strong growth trajectory as in 2017 it more than doubled its turnover from the previous year to EUR 40M ($50M). Customers include Microsoft, SAP, Procter & Gamble, Uber, Cloudera and Atlassian.