Nimbus Buys Furniture Unit
Samas, the Dutch office-furniture maker, sold several other assets earlier this year.
May 8, 2009
Samas, the Dutch office-furniture manufacturer, sold its Swiss operations to private equity firm Nimbus. The unit sold for €9 million.
As a result of the international downturn in which few businesses are furnishing new offices, Samas has faced a difficult past year. In January, the company appointed Carl-Christoph Held as chairman and chief executive, replacing Coen van der Bijl. Previously, Held was chief operating officer and a member of the board.
The divestiture follows a series of previous asset sales by the office-furniture company, including the sale of its French unit in October 2008 and the sale and leaseback of its Netherlands real estate holdings in May 2008. In May 2008, Samas also agreed to sell its Erco Interieurbouw unit in a management buyout.
In February, Nimbus acquired Budelpack Ranstadt, a personal and home care center in Germany.
Nimbus, based in the Netherlands, invests in mid-sized, European industrial manufacturers. Nimbus has an additional location in Germany.
For more information on related topics, visit the following:
