Family-owned illuminated signage firm Imagon Group will execute a generational change with the support of Juuri Partners. The private equity company will become a minority owner in Imagon Group alongside Okkonen family’s second generation and management team. The rapidly growing pan-Nordic firm aims to become a market leader in its field.
ICA, Nordea, Power, Trafikverket: Imagon Group’s LED signs, guides and shop milieu products can be found in all major Nordic cities. The rapidly growing truly Nordic company will carry out a succession supported by Juuri Partners, whereby the Finnish private equity company will become a minority shareholder in Imagon Group and the founder Arto Okkonen will step down from operations. Chairman of the Board Mika Okkonen, Production Director Mikko Okkonen, CEO Marko Mäkitalo and CFO Samuli Heikkilä will continue as shareholders in the company.
”Juuri Partners’ involvement enables a generational change in which the company remains firmly in the hands of the second generation and management. Simultaneously, we receive both strategic and financial support for our growth strategy that builds on our current pan-Nordic set-up”, CEO Marko Mäkitalo commented.
“The Nordics’ economy relies heavily on the continuation of the numerous family companies in the entire region. Finding suitable financing solutions poses a challenge for the entrepreneurs who take over the businesses, whether the successors are from within or outside the family. Our flexible financing model and way of supporting the new entrepreneurs provides a new and welcome alternative”, Partner at Juuri Partners Markus Einiö agreed.
Aiming for Nordic market leadership
In 2018, Imagon’s net sales were 21 million euros, half of which are generated in Sweden and Norway the rest coming from Finland. Earlier this year, the company acquiredFinnish competitor, Neonpoint Oy, accelerating the growth of Imagon Group. The company has experienced fastest growth in Sweden, where the business has grown by 60 per cent during the past year and a half.
Imagon aims to cement a market leading position in Nordic illuminated signage and interior milieu solutions. Growth is sought especially in the Norwegian and Swedish illuminated signage markets. Additionally, the company is exploring other growth avenues in Northern Europe as well as expanding its interior milieu offering both organically and inorganically across the Nordics.
Competitive advantage builds on own production and innovative solutions
Illuminated signage has developed rapidly over the last decade, and neon lights have been replaced almost entirely by energy efficient and reliable LEDs. Imagon’s competitive advantage is its own production and product development: the company is constantly looking for creative solutions in cooperation with its customers and Imagon is the only illuminated signage firm that has developed its own LED module. The company is also continuously looking for new ecological materials, technologies, transportation options and production and installation solutions.
For more information:
Markus Einiö, Partner, Juuri Partners, tel. +358 50 594 6363, email@example.com
Marko Mäkitalo, CEO, Imagon Group, tel. +358 40 300 4018, firstname.lastname@example.org
Juuri Fund I LP is a Finnish private equity investment fund that finances established and profitable small and medium-sized enterprises in Finland. The fund of some 80 million euros is managed by Juuri Partners Ltd. Juuri Partners offers growth-focused companies a new business development and financing concept that combines active minority ownership, business operation support and debt financing. The fund’s investors are significant institutional investors from Finland.
Founded 1988, Imagon is family-owned producer of illuminated signage and interior milieu products. Today, the group consists of four companies in Finland, Sweden, Norway and Estonia. Additionally, Imagon’s European service network encompasses 140 local partners that share the group’s values and standards. Imagon Group employs some 100 people and had net sales of circa 21 million euros. www.imagon.com