IV Group has completed the acquisition of the Swedish-based Frohe Group. The company was established in 1991 and is today mainly operating in the Medical- & Industrial sector. The acquisition means IV Group is adding Medical to its portfolio as well as expanding geographically with manufacturing sites added both in Sweden and in Poland.
“Acquisitions are an important ingredient in IV Groups growth strategy. We have been looking at strengthening our position at our home market in Scandinavia as well as expanding in Central Europe. Frohe Group is ticking both these boxes by having manufacturing in Tyresö outside Stockholm as well as in Wroclaw in south-west of Poland.
The site in Sweden is mainly operating in the Medical sector where they have a strong position at several customers. The site in Poland offer us significant customer synergies with our current customer base as well open up many new business opportunities in the important Central European market. On top of this we enter the very interesting Medical segment which is an area we will try to expand further,” said IV Group CEO Magnus Emeus
Frohe Group was founded 1991 and has from the beginning attracted interest from customers thanks to their innovative mind-set & technical skills within the injection moulding industry. The company’s products are mainly used in medical devices but also in the food processing industry as well as various industrial applications.
“Frohe Group has recently been awarded several big projects and when now being stronger together with IV Group, we will be able to further develop and fulfill our customers expectations even better. Through IV Group we will also get a footprint in China which is important for us as we already have customers there. Local presence gives us the opportunity to better serve our customers which will increase the possibilities for further growth,” says Frohe Groups CEO Mårten Samuelsson.
Frohe Group has been a family owned company since it started 30 years ago. They have a broad customer base where many of the customer relations are more than 10 years old which means the partnerships are strategic, solid and long term. The current management have also been with Frohe Group for many years and will stay in the company.
“Long term and strategic relationships, with both customers and employees, obviously says a lot about Frohe Group. By taking good care of both customers and employees, relations tend to be solid and last for a long time. Our intentions are to further strengthen and develop these relations and together with us at IV Group enable additional growth through capitalizing on the market synergies at hand,” said IV Group CEO Magnus Emeus “.
For further information, please contact:
Magnus Emeus, CEO, +46 701 477468
IV Group is a Norwegian group with operations in Asia and Europe. We develop and manufacture products in polymer materials for customers within medical technology, consumer products, automotive and other selected industrial sectors. We also manufacture tools for the injection moulding industry as well as machining services. Main owners of IV Group is Verdane Capital and IV Holding where Verdane Capital is the majority owner.