PRESS RELEASE
Contact:
Alina Szastok
PR Specialist
NOWY STYL GROUP | www.nowystylgroup.com
NSG TM Sp. z o.o., ul. Warszawska 15, 32-086 Węgrzce
Phone number: (+ 48) 12 63 98 685
Mobile phone number: (+48) 510 005 355
E-mail: alina.szastok@nowystylgroup.com
Cracow, 28.08.2015
Nowy Styl Group is taking over the Swiss company SITAG
Nowy Styl Group, one of the leaders of the European office furniture market, is taking over
another foreign furniture company. In Zurich the members of the Management Board signed a
contract concerning the acquisition of the Swiss company SITAG AG.
- Making foreign acquisitions is for us a way of developing Nowy Styl Group. Thanks to this acquisition
we will strengthen our position in Western Europe, expand our distribution network in a huge and
very demanding Swiss market, and complement the Group's portfolio with new ergonomic products –
says Adam Krzanowski, the President of the Nowy Styl Group's Management Board.
- It is already our 3rd acquisition in Western Europe within the last few years. By taking over
companies existing on markets which are more developed than the Polish one, Nowy Styl Group is
able to learn more. Thanks to such acquisitions we can implement different innovations more quickly
and minimise the risk of taking wrong business decisions. Even though local managers like
emphasising the differences between their markets and the others, we know that there are lots of
aspects that can be easily transferred between countries. – adds Rafał Chwast, the Vice President of
the Nowy Styl Group's Management Board and Financial Director.
The acquisition is the result of negotiations and the process of obtaining additional funds which
lasted several months. The whole process was carried out by Adam Krzanowski – the President of
the Nowy Styl Group's Management Board and Rafał Chwast – the Vice President of the Nowy Styl
Group's Management Board.
The SITAG company manufactures designer and ergonomic chairs and armchairs, and functional
furniture systems for office spaces, reception areas and conference halls. The company does not
supply only products, but – according to the Nowy Styl Group's philosophy – also comprehensive
services concerning interior arrangement.
The SITAG company was established 50 years ago. In 1993-97 it belonged to the Furniture Group
Samas. Since 2009 its controlling owner has been the Dutch investment fund NIMBUS.
SITAG, with its annual revenue amounting to 30 mln CHF, can be found in the European Top 100
Office Furniture Companies1.
Thanks to the acquisition, Nowy Styl Group will enter the highly developed and very important Swiss
market which, together with the German and Austrian markets, belongs to the strongest ones in
Western Europe.
- Switzerland has a very demanding market. The international corporations expect comprehensive
services and advanced products because they arrange their offices according to the latest
technological and design trends. We are sure that the exchange of knowledge and experience
between the SITAG company and Nowy Styl Group will help us respond to customers' needs more
accurately and win a much bigger part of the Swiss market – says Adam Krzanowski, the President of
the Management Board.
The previous acquisitions in Germany concerned companies with well-established positions in
Western Europe. In 2011 Nowy Styl Group took over its first German brand ‒ Grammer Office
having its headquarters in Bavaria. Next, in 2013 Nowy Styl Group acquired another German
company ‒ Rohde & Grahl with its headquarters in Northern Germany. One year after the
acquisition, the Rohde & Grahl company recorded an increase in sales revenue of approx. 20%, while
in 2015 its revenue is forecast to increase by approx. 35%. The integration of the acquired companies
into Nowy Styl Group has been a smooth process. The local production and the number of
employees have remained the same, while the information, financial and marketing services have
been centralised.
- The operational model of Nowy Styl Group is based on a huge integration of the processes inside
the company. This helps us gain a great competitive advantage because we don't duplicate similar
initiatives in other countries and we choose, in an optimal way, a place where we will perform a
particular business function ‒ adds Rafał Chwast, the Vice President of the Management Board.
1
According to FEMB, JSA League Table Of European Office Furniture Companies, valid on 31.07.2015
In a similar way we are going to deal with SITAG. The company will not only complement Nowy Styl
Group with a stable brand, but also with the highly developed distribution network, modern factory
in Sennwald and qualified staff. Details concerning the integration of the company into the Group
will be fixed in the next months.
We are not going to offer this brand's products in Poland because of the license agreement signed
by the SITAG Formy Siedzenia Sp. z o.o. company. The company is not included in the purchase
transaction and will remain an independent subject.
Nowy Styl Group does not reveal the financial aspects of the acquisition.
Important information concerning the Swiss market:
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The whole chairs and office furniture market in Switzerland is worth: 500 mln CHF /
2014
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SITAG revenue: 29 mln CHF / 2014, forecast for 2015: 32 mln CHF
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Nowy Styl Group revenue: 282 mln EUR
__________________________________________________________________________
SITAG AG: www.sitag.ch
NOWY STYL GROUP: www.nowystylgroup.com
__________________________________________________________________________
About Nowy Styl Group
Nowy Styl Group is a European leader in designing comprehensive furniture solutions for office and
public spaces. Thanks to its unique business model, the Group offers an excellent interior furnishing
service based on in-depth analysis of customers' needs, efficiency, work organisation, ergonomics
and acoustics. Nowy Styl Group's experience as well as technological and production facilities ensure
that every offer is "tailor-made".
It is the flexible approach to a customer, innovation and the exceptional organisational culture that
make the Group one of the biggest and the most dynamically developing furniture companies in
Europe. Its annual revenue amounts to almost 300 mln Euro.
The company has its own international distribution network comprising local sales structures all over
the world (existing in the most important European markets, as well as in the USA and the Middle
East). Employing local managers and employees, it is successful in adjusting the offer to the needs of
customers and providing them with a professional service.
Every day, the company equips new office buildings, conference centres, cinemas,
stadiums, music halls, sports and multifunctional facilities. The Group's reference list includes
among others, big international corporations, cultural institutions such as: the Polish National Radio
Symphony Orchestra, the Opera house in Munch as well as all the Polish stadiums where the UEFA
EURO 2012 was held. It was the Group's chairs that heads of government were sitting on during the
NATO Lisbon Summit; the Group's chairs can also be found in the German Chancellery and in the
Leicester Square Theatre in London. In the foreseeable future, the Olympique stadium in Lyon will be
fitted with the Group's chairs as well.
To meet the tastes and needs of customers all over the world, the Group's portfolio consists
of 7 product brands: Nowy Styl, BN Office Solution, Grammer Office, Rohde & Grahl, Sitag, Forum
Seating and Baltic Wood. The range of office solutions offered by Nowy Styl Group is presented in
over 15 showrooms located in Warsaw, London, Paris, Dusseldorf, Munich, Prague, Bratislava, and
Moscow. Nowy Styl Group manufactures its products in more than a dozen production plants
equipped with the state-of-the-art technologies that are located in Poland, Germany, Ukraine and
Russia.
Nowy Styl Group combines two important aspects: the model of long-lasting investment in its
own portfolio development with the process of buying shares by taking over perfectly functioning
brands. It allows the Group to increase the sales more noticeably and adjust to local trends in a more
flexible way. In 2011 Nowy Styl Group took over its first German company ‒ Sato Office and
included into the portfolio one of its brands ‒ Grammer Office ‒ a well-known manufacturer of
ergonomically advanced office chairs equipped with patented mechanisms. Next, in 2013 Nowy Styl
Group acquired another German company ‒ Rohde & Grahl that hold a lot of shares in the German
and Dutch markets. The last acquisition enabled Nowy Styl Group to strengthen its position in the
German market that is now the biggest, single market of the Group and to become highly
recognisable in the demanding Netherlands market. In June 2014 the company purchased 50% of
shares of the Turkish production & distribution company (TCC - The Chair Company) which has a
well-established position in the enormous and dynamically developing Turkish market.
Through acquisition in August 2015, the Group complemented its portfolio with the new company
SITAG AG which has a stable position in the Swiss market.
Nowy Styl Group continues developing and takes special care of maintaining good relationships with
all of its stakeholders. While creating the strategy concerning the company's further development in
foreign markets, it always adjusts to local trends and employs a local staff. The success achieved by
Nowy Styl Group makes the company responsible for both the social and business environment. It
follows the "think globally, act locally" rule. The Group knows that its dynamic development would
not have been possible without the countless talents and great potential of its employees and
business partners. The company is aware of the fact that it is in the local community's interest to
create strong regional economy. That is why, the company is fully committed to implementing the
strategy of integrating economic and community development at the local level. Taking care of the
natural environment is yet another priority that Nowy Styl Group considers crucial. Therefore, the
company gains new certificates, modernises the production process and successively minimises its
negative environmental impact. The sustainable development is something the Group wants to
follow. The company monitors all of its business activities and reports them according to the most
important international guidelines (GRI4). It publishes a biennial Sustainable Development Report
within which the company reports its achievements as well as presents its promises to be fulfilled by
the time the next report is issued.
About SITAG AG
SITAG combines Swiss precision with an innovative character. By developing and producing advanced
chairs and office furniture since 1965, the company has managed to become one of the most
important office solutions suppliers in Europe. This modern office brand is characterised by
innovation, unique design and technical precision. Its wide product portfolio comprises ergonomic
chairs and armchairs, reception desks, sofas, functional furniture systems and tailor-made solutions.
The products are manufactured in response to customers' needs and according to the newest market
trends. The company offers intelligent and sustainable solutions. The international awards, such as
the Red Dot Design Award, emphasise the company's innovative character and the constantly
improved product design.
From the product development stage, through product manufacturing and selling to the
comprehensive warranty service, the SITAG employees show great professionalism to satisfy their
customers. The high quality of SITAG products is ensured by the following implemented systems: ISO
9001:2008 / ISO 14001:2004 / OHSAS 18001:2007.
Facts about Nowy Styl Group:
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the 3rd biggest chair and office furniture manufacturer in Europe2
Export to more than 100 countries on 6 continents
Operations in 16 countries
Showrooms in 19 cities
Production plants located in Poland, Germany, Switzerland; and through joint ventures with
local partners ‒ in Turkey, Ukraine and Russia
7 product brands offering a wide range of solutions for all office and public spaces
Brands:
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2
Nowy Styl – the first and oldest brand that offers the widest in Europe range of office and
cafe chairs designed for all interiors, both the private and public ones
BN Office Solution – a comprehensive offer of office and managerial furniture designed by
the world-class designers
Grammer Office – a collection of office chairs with worldwide patented GLIDE-TEC
mechanism designed by German experts
Rohde & Grahl – a wide range of technologically advanced German furniture and office
armchairs with Duo Back
Sitag ‒ the newest brand in the Group's portfolio; a comprehensive offer of chairs and office
furniture, sofas, reception desks for office interiors
Forum Seating – seating solutions for auditoriums, cinemas, stadiums and telescopic
tribunes
Baltic Wood – a choice of excellent 3-layers and solid parquet floors inspired by fashion
According to FEMB, JSA League Table Of European Office Furniture Companies, valid on 31.07.2015
Frequently asked questions
1. Who is the SITAG AG company?
It is a company which manufactures designer and ergonomic office chairs and armchairs,
functional furniture systems for office spaces, reception areas and conference halls. The
company supplies not only products, but also comprehensive services concerning interior
arrangement. It has 50 years of history and a well-established position in the Swiss market, as
well as in the German and Austrian markets. The company belongs to the European Top 100
office furniture manufacturers.
2. Does the company produce chairs and office furniture?
Yes, it does. The company manufactures all its chairs and office furniture in a factory located
in Sennwald in Switzerland.
3. What market does the company operate in?
The company operates in the professional and retail markets. It sells its products directly to
customers in the Swiss, German and Austrian markets. The company's products are also wellknown in other countries of Western Europe, in Canada and Brazil. In some countries, local
suppliers have a special licence to sell its products.
4. Are you going to sell Sitag products in Poland?
We are not going to offer this brand's products in Poland because of the license agreement
signed by the SITAG Formy Siedzenia Sp. z o.o. company.
The company is not included in the purchase transaction and will remain an independent
subject.
5. When was the Sitag AG company established?
The company has been operating in the market for 50 years. A few milestones in its history:
•
1965 – SITAG AG is set up; chair production
•
1988 – factory in Sennwald is opened; chair and office furniture systems production
•
1994 – 1997 – SITAG belongs to Samas Deutschland
•
2009 – the company is purchased by the Dutch investment fund NIMBUS
•
2015 – SITAG joins Nowy Styl Group
6. What were the motives behind the acquisition?
The acquisition of the company was a part of the Nowy Styl Group's investment strategy in
the Swiss market. By taking over the company, we have bought a distribution network
existing in the market where the Group's sales results are very good, and products which
perfectly match our portfolio. We have bought a well-known brand in the professional
market with ergonomic and designer products.
7. What was the total cost of the acquisition?
Unfortunately, it is our business secret which we are not going to reveal.
8. What are your plans concerning the new brand?
The company is profitable and well-known in the professional market, so we are going to
continue its operations in Switzerland, Germany and Austria. At the same time, we are going
to promote other brands belonging to the Group there.
9. How many workers does the company employ and what will happen to them after the
acquisition?
The company employs 130 people. For the time being we are not going to introduce any
changes. In every market where our company operates, we always employ local managers
and workers.
10. What is the Sitag revenue and the value of the Swiss market?
The company belongs to the European Top 100 office furniture manufacturers.
Its sales revenue in 2014 amounted to: 29 mln CHF
Its sales revenue in 2015 is forecast to amount to: 32 mln CHF
The whole chairs and office furniture market in Switzerland is worth: 500 mln CHF / 2014
11. What is the financial standing of the Sitag company?
Sitag is a company with a stable and healthy financial standing. It is profitable and doesn't
need any restructuring activities.
12. Is the company one of the other companies/brands you want to take over? Are you going
to make any other acquisitions?
Nowy Styl Group is constantly looking for new possibilities of developing. We treat
acquisitions of other companies/brands as a quick way of marking our presence in different
markets. For us the priority markets are those where we have our own distribution networks,
such as Germany, France or England. We are currently negotiating, researching the market
and seeking new opportunities to make further acquisitions which will help us strengthen our
position in Europe.
13. Are acquisitions your current idea for further development of Nowy Styl Group?
Yes, they are. We develop both in an organic way and through acquisitions. Acquisitions
allow us to enter the stable and expanding markets and strengthen our position in Europe.