Flokk, the leading European manufacturer of office seating, is announcing the appointment of Henning Karlsrud, currently CFO with the company, as new CEO. Henning Karlsrud replaces Lars I. Røiri, who after a 26-year career at Flokk, assumes the role of Chair of the Flokk Board.
“As the owner of Flokk, we are excited to announce Henning as the new CEO. We would like to extend our gratitude to Lars and are pleased that he has accepted the role as Chair of the Flokk Board. Lars has been instrumental in developing Flokk into a market leader in the office seating industry, and we look forward to continuing developing Flokk together. Further we would like to honor the work and efforts of Mikael Aro, who will be handing over the Chairman role to Lars. Mikael’s solid industrial experience and steady hand on the wheel has been an important contribution to Flokk’s growth and expansion,” states Thomas Hofvenstam, Managing Partner at Triton.
Following a strong growth trajectory over many years, Flokk achieved record-breaking results in 2023, with revenues of NOK 3,826 million, alongside a 15 percent increase in adjusted operational EBITA, reaching NOK 634 million. Under Lars I. Røiri’s more than two decades of leadership the company has been transformed from a Scandinavian niche player to a leading international office seating specialist through both organic growth and acquisitions. After an initial phase of Scandinavian consolidation, Flokk has since 2015 acquired eight new brands including Stylex, growing in Continental Europe and the US.
In 2024 the company is furthermore a sustainability pioneer within in its industry and a recognized innovation leader. Flokk is owned by the European Private Equity firm Triton, which acquired the company in 2014.
Henning Karlsrud joined Flokk in March 2021, having previously held the CFO role at the telecommunications company Ice Group. He holds a master’s degree from the Norwegian School of Economics and has extensive financial and strategy experience from several companies, including Telenor and The Boston Consulting Group.
Lars I. Røiri states: “After 23 years as CEO and having accomplished the strategic transformation of Flokk together with Triton, I believe this is the perfect time for a CEO transition. Having worked closely with Henning for several years, I am convinced he is the right person. I am excited to continue our partnership and move Flokk to the next level together.”
“I am honored to be asked to head Flokk, a company that I have come to love since joining. We have taken a leadership position in Europe, secured a strong foothold in the US which is expected to constitute a third of the revenues in 2024, and are further exploring exciting opportunities in emerging markets. We have an excellent foundation from which to continue our profitable growth, both organically and through targeted M&A. I will do my best to execute on these opportunities together with the organisation and our owners”, says Henning Karlsrud
Henning Karlsrud will take on the CEO position effective 1st October 2024.
About Flokk
Flokk is the leading manufacturer of high-quality office seating furniture in Europe, developing a growing family of brands. The company is the proud owner of the HÅG, RH, Giroflex, BMA, Offecct, Profim, Malmstolen, Connection, Stylex and 9to5 brands. More than 1900 employees work together to achieve Flokk’s vision: Inspire Great Work. The company’s head office is in Oslo, Norway, with main production units in Norway. Sweden, Poland, UK, China, and the USA. Flokk products are sold in more than 80 countries worldwide. Flokk has a more than 40-year history of relentless focus on the environment, enabling the company to be a leader in the development of sustainable furniture. For more information, please visit www.flokk.com
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit. For further information: www.triton-partners.com
