Ventizz Capital Fund IV L.P. acquires Swedish high-end camera manufacturer Hasselblad
June 30, 2011
- An iconic brand for more than 50 years, Hasselblad is the world market leader in the field of high-end medium format cameras
- Strong increase in demand worldwide for Hasselblad cameras, particularly in Asia
- Ventizz Capital Fund IV L.P. provides additional capital for growth strategy
Ventizz Capital Fund IV L.P. has agreed to acquire 100 percent of the shares of the Swedish camera manufacturer Hasselblad Group from Hong Kong-based Shriro Group. Shriro, a long-standing Hasselblad distributor in the Asia-Pacific region, has held ownership of the company since 2003. Shriro will retain its current Hasselblad distribution rights in the Asia-Pacific region. Vasco Fung, CEO of Shriro, will serve an additional five year term on the supervisory board of Hasselblad.
Founded in 1941 in Gothenburg, Sweden, Hasselblad has become the world market leader in the field of high-end medium format cameras. Today, its name is synonymous with the utmost in camera reliability and image quality. The company produces first class camera equipment for professional photographers, photo artists and high-end consumers. The extraordinary quality of the company’s products became famous in 1962 when Hasselblad cameras were selected for NASA space missions, which resulted only a few years later in the first world-renowned images taken on the moon.
“Hasselblad is the world’s most renowned camera brand. We are proud to have such an iconic brand in our portfolio and are convinced that with solid financial support and a suitable growth strategy, Ventizz can further strengthen Hasselblad's position as the first class producer of medium format digital camera systems. Furthermore, we plan to develop Hasselblad cameras to appeal to a wider circle of ambitious photographers“, said Dr. Helmut Vorndran, Managing Partner and CEO of Ventizz Capital Partners AG, the exclusive advisory to the Ventizz funds.
As a strong financial partner, Ventizz Capital Fund IV L.P. will support Hasselblad and its management team in entering new market segments as well as in the further technological development of existing product lines. Dr. Vorndran: “We have seen the demand for Hasselblad cameras continue to grow in Asia, as well as in Europe and North America, where there is increased interest in top-quality cameras. Our growth strategy for Hasselblad is therefore timed perfectly.”
Dr. Larry Hansen, CEO of Hasselblad, expresses his appreciation for the change in ownership and for the opportunities this will create: “We are very pleased that Ventizz, as an experienced investor in growth strategies for technology-oriented mid-sized companies, has decided to invest in Hasselblad and we look forward to many years of close cooperation.”
The parties have agreed not to disclose the purchase price.
About Ventizz Capital Partners
Ventizz Capital Partners was set up in 2000 and has offices in St. Gallen, Düsseldorf, Zürich and Vienna. Ventizz Capital Partners advises solely Ventizz Private Equity funds which provide equity capital for growth in high tech companies predominantly in the German-speaking region. Four partners and a team of a further 15 professionals currently advise four funds with a total capital volume of EUR 675m. The Ventizz Capital Fund IV L.P. is the largest of the four hitherto issued funds. The fund was closed at the end of 2007 after a mere six month fundraising process which raised EUR 450m, making it one of the biggest private equity funds in the area of growth capital and mid-size tech buyouts in the German-speaking region.
Ventizz funds have to date invested in 39 companies with a focus on the areas of renewable energy, medical technology, information and communication technology, and other industry sectors with high added value. In addition to many trade sales, Ventizz has brought three portfolio companies (ersol, SAR, PV Crystalox Solar) to the stock market.
About Hasselblad Group
Founded in 1941 in Gothenburg, Sweden, Hasselblad has been the leading manufacturer and partner for photographers working in the medium format environment for over half a century, consistently providing the highest level of quality and innovation.
The extraordinary quality of the company’s products became famous in 1962 when Hasselblad cameras were selected for NASA space missions, which resulted only a few years later in the first world-renowned images taken on the moon. Positive associations with Hasselblad’s past serve as the foundation for the company’s modern and energized brand. In 2002, the Hasselblad H-Camera System was introduced. With its professional lens family and unique advancements, including True Focus and instant lens correction within the Phocus software, it is the most comprehensive digital camera system of its kind available today.
Hasselblad H4D-60 camera image: