Silverfleet Capital to invest in Phase One A/S

Phase One designs and manufactures medium format camera systems for the world’s most demanding professional photographers and advanced amateurs, as well as having an industrial division supplying camera systems, predominantly for aerial photography. Furthermore, Phase One is a world leader in software for processing raw images. The business is renowned for its technical expertise and innovation, having been the first to manufacture commercially a fully portable medium format digital camera back in 2004. It has continued to launch new, innovative products ever since, culminating in the recent launch of its new IQ250 digital camera back; the first available medium format back using a CMOS sensor.

Silverfleet Capital will acquire a majority stake in Phase One from the existing management team, who will reinvest a significant amount of money for a substantial minority stake. Bank financing for the transaction is to be provided by Nordea. Accoridng to a press releasse, the investment will enable the business to grow through continued innovation and new product launches, additional marketing and the potential acquisition of complementary businesses or technology.

Henrik Håkonsson, who is currently the majority shareholder of Phase One, will continue as CEO of the business after the transaction. He commented: “We are delighted to work with Silverfleet going forward. Their international outlook, financial capability and track record of growing companies, make them an ideal partner for us as we accelerate the growth of our business".

Gareth Whiley, Partner at Silverfleet Capital with responsibility for the Nordic region and who led the transaction, will join the Board as a non-executive director. Gareth commented: “Phase One is a world class company with unrivalled products and an excellent management team. We are excited to be able to partner with Henrik and his team to further develop this highly successful business and brand."