Norwegian private equity firm Herkules Capital AS has purchased a 54% share in the projector manufacturer from Eker Group AS.
"projectiondesign is an exciting growth company, and is an attractive opportunity for Herkules. We have been familiar with the company for some time now and believe that there are good opportunities for organic growth in all parts of the world," said Tore Rynning-Nielsen, partner of Herkules Capital. "projectiondesign's technical expertise is world-class; the goal now is to expand the application areas and products and really focus on supporting and expanding their customer base."
Jorn Eriksen, president and CEO of projectiondesign, added: We are proud to announce this change in ownership, which will fuel the acceleration of our already enviable business performance. We intend on staying sharply focused on executing the release of some of the world's most exciting market-specific display products that will continue to delight our current and new customers and partners internationally.
The company has previously been wholly owned by its founders and employees.
Established in 2001, projectiondesign is a well-established name in the creation, development, design and manufacture of high-quality projectors for specialist professional, industrial and private sector applications. The company has 135 employees, including in-house product testing, research and development in electronic, optical and mechanical system design.