EBELTOFT, Denmark —Industry watchers are very positive about Kvadrat’s acquisition of Sahco Hesslein on May 1.
“Kvadrat has been very aggressive in the European contract market on a high level (on top of Bautex and even JAB) and this will add the upper market for home furnishing fabrics,” an informed source says. “This is an excellent move and Kvadrat will gain lots of prestige with this acquisition,” he adds.
While Kvadrat started out in life as a European fabric editeur, it has become a global player largely due to the business strategy of Anders Byriel, the 53 year old CEO of Kvadrat.
Since becoming CEO in 1998, at the age of 33, Byriel has expanded the company from a $20 million to a $200 million business with 26 subsidiaries according to an article in the Wall Street Journal published on May 31, 2017. Erling Rasmussen and Byriel’s father, Poul Byriel, are the founders of Kvadrat, and their two families continue to own and manage the company.
Kvadrat acquired Sahco Hesslein out of bankruptcy from the German Bankruptcy Court in Nuremberg. Sahco Hesslein, a German editeur with 80 employees based in Nuremberg, filed for insolvency on February 8.
Kvadrat, a designer and wholesaler of contemporary styled high-end textiles for commercial and more recently for residential applications has been in business at the same location in Ebeltoft, Denmark since 1968.