Resource Partners-backed Buglo acquires Elverdal

Industry leader and Poland's largest manufacturer of playgrounds, Buglo Play, has acquired an overall stake and become the sole owner of Elverdal, a Danish company specialising in tailor-made projects. This transaction is an important part of Buglo Play's international expansion strategy and the implementation of the company’s key business objectives.

 

Originating from Koszalin, Buglo has become a leader on its home market and a serious European player in just 14 years, with a turnover of 30 million euros in 2023. Buglo currently employs almost 400 people and exports its products to more than 60 countries, including Germany, France, Italy, China, Australia, Chile, Saudi Arabia and Israel. The company is renowned for its diverse designs, from fabulously colourful playgrounds, to designs made from natural materials inspired by nature, to solutions that go beyond standard products.

The transaction creates new opportunities for growth and a stronger leadership position. Among Buglo's objectives are to reach 30% of its projects to be tailor-made playgrounds and to expand its range of products basing on solutions that closely tie in with ecology and nature. The acquisition of the Danish manufacturer, which has both experience and considerable success in this area, is a decisive step towards achieving these goals.

Elverdal has famous Scandinavian design in its DNA and specialises in customised ideas created from architects' original designs. The company is happy to take on unusual and demanding projects. Founded in 2007, Elverdal currently has 70 employees.

With this strategic move, Buglo intends to expand its range and create new products in line with the idea of sustainability. By joining forces, the two companies will gain new competences, allowing them to create a joint portfolio, including both standard products and exclusive design solutions. As a result, this will translate into a strengthened position on the European market and increased competitiveness. Another important aspect is the better ability to reach customers through joint sales channels and greater market penetration.

Bartosz Krzemiński, CEO of Buglo Play, said: ‘We are extremely proud of this acquisition, which is not only an important step in Buglo's development, but also a key element in achieving our long-term goals. The integration with Elverdal opens up new opportunities for us, strengthening our competences and allowing us to further expand our offering with innovative, sustainable solutions. After the first significant step of having an investor join us, this is another step that will strengthen our position on the market and accelerate our growth.’

Jens Bo Thorsager, CEO Elverdal: ‘This transaction is a new and amazing chapter for our company. For me, the partnership relationship and the retention of the entire existing team are solid foundations on which we will build our future together and achieve mutual success.’

For the past 3 years, 70% of Buglo Play has been in the hands of investment fund Resource Partners. As a leading private equity fund in Central and Eastern Europe over the past 15 years, it has invested in dynamic companies with experienced management teams, supporting their growth through both organic expansion and acquisitions.

Małgorzata Bobrowska, managing partner at Resource Partners, said: ‘We are very pleased with our cooperation with Buglo so far, which consistently achieves ambitious growth targets in line with our investment objectives. We value the high level of commitment of the management and the entire team, with whom we can achieve the most ambitious goals and pursue long-term growth. Our plan for the coming years is to significantly increase Buglo's turnover, and the new investment certainly brings us closer to this.’

‘Choosing the right partners is crucial for success, and the acquisition of Elverdal fits perfectly with our growth plans for Buglo. We are confident that working with Elverdal will significantly strengthen our strategy and allow both companies to achieve great results together. Together we will build a solid foundation for future success and further growth.’ - Dominik Smykla, managing partner at Resource Partners, added.

Designing safe, functional outdoor spaces that inspire fun and active play are a priority for both companies.

‘The diverse experience and expertise of both companies complement each other perfectly. Moreover, we share a coherent vision of the future. It is with joy and satisfaction that we welcome the entire experienced and creative team of Elverdal. This integration will enable us to successfully pursue our ambitious goals and build something unique together,’ emphasises Andrzej Sas, board member at Buglo Play.