Gateshead headquartered Astley Signs has been bought by Mindelon, a privately owned Swedish group that acquires, supports and develops technology-based businesses.
Astley MD Gavin Redhead said: “The transaction secures the future of the company for the next generation and enables it to continue to follow the path of investment, growth, and evolution we have successfully pursued over the last three decades. We look forward to all the opportunities that it will bring for the business.”
He and sales director David Forrester will remain in their respective positions with the Astley, which will now operate as an independent company in Mindelon’s Retail Solutions business area. Astley chairman David Redhead is retiring.
The Mindelon group currently comprises ten companies focused on increasing sales and efficiency in retail stores and other companies by offering value-adding solutions such as store information and signage, checkout systems, display of theft-prone goods and efficient logistics. Together, the Mindelon companies have some 250 employees with sales in northern Europe and the USA. “It is exciting that the Mindelon group now has a solid foothold in the British market,” said its president and CEO Fredrik Celsing.
Mindelon’s Retail Solutions business area, of which Astley is now part, is headed by Ulrica Lindunger. She said of the acquisition: “Astley helps its customers to sharpen their profile and build their brands through innovative, eyecatching and effective signage solutions. For many years, the company has had proven operational ability and strong relationships with large global players. Astley will therefore be an exciting and valuable addition to our Retail Solutions business area where we will support the company as it continues its successful journey.”
Confidential Corporate Finance acted as advisor to Mindelon for the transaction.