News

projectiondesign Announces Change in Ownership (19/10/2009)

New ownership spurs strong growth, increased product development and focus on partner support

Norwegian high performance projector manufacturer, projectiondesign is capitalising on the growing global demand for high-quality products as well as partner support with the announcement of a change in ownership to include Norwegian private equity firm Herkules Captial AS.

The move follows the purchase of a 54% share in projectiondesign from previous main shareholder, Eker Group AS headed by top Norwegian Industrial Designer Bård Eker.

projectiondesign has emerged as an industry leader in the creation, development, design and manufacture of high-quality projectors for specialist professional, industrial and private sector applications. The company currently has 135 employees, including in-house product testing, research & development in electronic, optical and mechanical system design, and has shown strong growth since being established in 2001.

"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." says partner of Herkules Capital, Tore Rynning-Nielsen. "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."

Jørn Eriksen, President & CEO at projectiondesign adds, “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.”

www.projectiondesign.com