Signage specialist Modulex acquires Norwegian sign company
The worldwide Danish sign company Modulex A/S has purchased the Norwegian sign company Nelstrøm Dekor AS as part of its strategy to become a total supplier to the project, branding, and rebranding market.
Â“We see this acquisition as strategically important. Our Norwegian subsidiary will be merged with the acquired company which will strengthen our presence on the Norwegian market significantly", says Modulex CEO Søren Bendt.
Modulex wants to change its position from mainly being known as a supplier of high quality interior signage to be the customers’ preferred one-stop supplier.
Therefore, Modulex is deliberately expanding its business via acquisitions of companies with profiles that supplement this ambition and strategy. Â“We did it in Denmark with the acquisition of Louis Signs in 2010. Now we do the same in Norway. Furthermore, Nelstrøm Dekor has close relationships with Norwegian design companies, which matches our strategy perfectly", says Søren Bendt.
Modulex was founded by the LEGO Group in Billund, Denmark, back in 1963 and is today the world’s leading company for wayfinding, signage and environmental graphics. An international network of owned companies and dealers are distributing Modulex products in more than 45 countries.
Modulex has since 1980 been represented on the Norwegian market through its Norwegian subsidiary Modulex Norge AS which Nelstrøm Dekor AS will now be an integrated part of.
The merger between Modulex Norge AS and Nelstrøm Dekor AS paves the way for new opportunities for Nelstrøm Dekor who is mainly working on a local basis. As an integrated part of Modulex, Nelstrøm Dekor will be involved in projects all over Norway and the other Scandinavian countries.
The original three owners of Nelstrøm Dekor will continue as shareholders and employees in the merged company. Â“The merger will definitely strengthen our position on the market. With a stronger organization and a strong ownership the merged company will be able to penetrate a bigger part of the market – including the project, branding and rebranding market", says Jon Mathisen, general manager of Modulex Norge.
Once the merger has been completed by the beginning of September 2012, the name of the company will be Modulex Norge AS. The number of employees will be doubled and the merged company will move into Nelstrøm Dekor’s present facilities in Drammen outside Oslo.
Facts: Nelstrøm Dekor AS was founded by Dan Nelstrøm in 1978. The company has been a well-known player within the sign and decoration business in Buskerud, Vestfold, Oslo and Akershus during the last 30 years.
Questions should be addressed to:
Søren Bendt, CEO Modulex A/S
M: +45 4094 4411
Jon Mathisen, Manager Modulex Norge AS
M +47 2311 5730