IK in home decoration secondary

Industri Kapital has signed an agreement with 3i and the management team to acquire SIA Group, a global player in the home decoration market. 3i led the MBO of SIA in December 2001, since which time the company has grown via acquisitions in Norway, Denmark and Greece, as well as domestically in France, with the opening of 24 sites.

Christopher Masek, a partner at Industri Kapital, said the firm had a track record of working with companies in the sector. “We believe the experience will add real value in the next stage of SIA’s development. In particular, we will develop its distribution networks further as well as extending the product range and launching new designs and concepts,” he said.

Johan Nilsson, SIA Group CEO, said the agreement with Industri Kapital meant entry into new geographic markets. “We will accelerate the development of SIA’s brand, not only in Europe . . . but also in Japan and in the United States,” he said.

Under 3i’s ownership, SIA’s turnover increased by 50%, according to Guy Zarzavatdjian, director general of 3i France. The company’s distribution network increased from 127 points of sale in 1999 to 361 in 2004, including 30 exclusive boutiques. The group has about 450 employees and an estimated 2005 turnover of approximately €130m.