the company intends to use the proceeds of the investment, was amount not disclosed, to continue to grow organically, and through acquisitions, and achieve its large development potential.
Bent Fogh Povlsen, who founded A-TEX in 1991, has sold his ownership interest to Polaris, while the current management, led by Jan Jakobsen, CEO, will retain a significant interest in the company.
A-TEX provides more than 400 European and US fashion brands with innovative and customized branding solutions. Its design teams develop and supply labels, hang tags and packaging solutions as well as in-store decorations. The company employs 80 people at its head office in Herning, and has a further 300 employees based in regional sales offices in Europe and the United States as well as at logistics centres in Asia.
Polaris will appoint a new board consisting of experienced business profiles with strong skills and in-depth international sales and marketing expertise. Henrik Theilbjørn, who is currently the chairman of PWT A/S and BOOZT Group AB, will join as the chairman of the company.