Widgets Magazine

Draper®, Inc. Announces Sale of Subsidiary Draper Europe AB

On January 1, 2022, Draper, Inc. sold its subsidiary company, Draper Europe AB, located in Halmstad, Sweden, to members of their current management team. Since being purchased in October 2002, Draper Europe has grown significantly and has diversified its product offerings. Instead of manufacturing projection screens, Draper Europe designed awnings and window coverings.

“Although it was a difficult decision, we feel that selling Draper Europe was a good choice for both companies”, said Draper President Chris Broome. “Local ownership will benefit Draper Europe, and they are well-positioned for continued success. This transition will also create new opportunities for Draper to invest in our Spiceland, Indiana manufacturing operations.”

Draper Europe AB will continue to operate under the Draper brand in 2022, under the ownership and guidance of managing directors Tomas Andersson and Falkess AB.

“During the 25 years I’ve worked within the company, we have had an incredible journey.”, said Andersson. “Under the ownership and guidance from Draper, we have had stable growth over the years and diversified into the Nordic awnings and shades markets during 2012. With this background and with the acquisition into local ownership we will continue to develop and grow our position.”

About Author

Leave A Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.