Priveq Investment’s portfolio company Crem International (“Crem”) has acquired German Spengler from vending machine operator Maas International (“Maas”). Spengler complements Crem with industry leading products within the automatic espresso machine segment and strengthens Crem’s market positions in Holland, Belgium, Germany and Denmark. Spengler has a turnover of approximately € 20 million.
Sebastian Lindström (CEO of Crem): “The addition of Spengler into Crem will strengthen our offer to our customers and bring valueable knowledge into our technical and commercial teams. We look forward to the partnership with Maas and believe that we together will drive innovation into the market. Spengler complements Crem perfectly in the areas of Technology, Product and Market. The fact that both companies have an entrepreneurial core is key and will be instrumental for the successful integration of the companies.”
For further information, please contact Karl-Johan Willén, Partner and Investment Manager at Priveq, at telephone No. +46 70 950 88 25 or email karljohan.willen@priveq.se
More information is also available at Crem’s web site www.creminternational.se