E-commerce and Digital Media

Photowall

March 2021

BUYER

Network of Design invests in e-commerce companies and brands with a focus on Nordic design. Network of Design is fully owned by Altor, a leading Nordic private equity fund. Since inception, Altor has raised some EUR 8.3 billion in total commitments and invested in more than 60 companies over 20 years.

TARGET

Photowall, founded in 2006, is a fast-growing international DTC online retailer. The Company offers customized on-demand printed wallpapers to consumers in the US, EU and Asia, 100% through its own website channel. Photowall reported revenues of SEK 180 million in 2020 with an operating margin of more than 35%.

SELLER

The Company's founders Niklas Lagander and Charlie Johansson and Chairman and co-owner Jonas Bertilsson, who will remain substantial shareholders in the Company.

TRANSACTION

An exclusively negotiated transaction