CHICAGO, Oct. 18, 2022 /PRNewswire/ -- Outform (f/k/a Rapid Displays), a portfolio company of Gemspring Capital, and global retail innovation agency, is pleased to have acquired Alrec, a European focused provider of end-to-end customer merchandising solutions for global brands and retailers. The two businesses will combine expertise to deliver innovative retail solutions for clients across the globe.
Alrec is a full-service provider of brand store, shop-in-shop, and display solutions that drive connected customer experiences. Alrec's services span the full merchandising lifecycle – from ideation and design, engineering, and prototyping to production, logistics, installation, and maintenance. Alrec's design, engineering, and production capabilities are realized through a large scale, state-of-the-art production facility in Łódź, Poland. Alrec is headquartered in Mijdrecht, the Netherlands, and serves global brand clients through its operations in the Netherlands, Poland, UK, and US.
The acquisition of Alrec bolsters Outform's existing expertise in delivering innovative, technology-led retail experiences to customers. Alrec adds to Outform's global scale, enhancing its footprint throughout the UK and Europe as well as bringing in-house manufacturing capabilities in Poland to an extensive supply chain in Eastern Europe and Turkey. These benefits are viewed as highly accretive to Outform's existing production capabilities in China and North America and will strengthen Outform's ability to better serve customers through one-stop global execution.
Outform's President, Ariel Haroush, commented, "We've always admired Alrec's operational excellence, and this, combined with Outform's unique approach, global footprint, and technology-driven solutions, creates a compelling offer for clients looking to shape the future of retail."
Charles Fraas, Managing Director at Gemspring, added, "We're delighted to unite two companies with such impressive track records in creating in-store and connected retail experiences for best-in-class brands. The combination will offer customers a top quality, global, and comprehensive offering."
"We're very excited about Outform and Alrec joining forces – Outform has taken the retail marketing industry by storm, and we're looking forward to the benefits our new global scale will bring to our clients, particularly in China and the Americas," commented David Littlefield, CEO of Alrec.
About Outform
Outform is an award-winning global innovation agency. We partner with some of the best-known brands and retailers in the world to transform customer experience through insight, technology, and creativity. We design, engineer, prototype, manufacture, manage logistics and implement in-store to create unforgettable brand experiences. Outform's user-centric, data-driven approach focuses on creating a seamless experience across different environments. With more than 750 people and global locations that include: London, Miami, Chicago, Shanghai, Tel Aviv, Shenzhen, Amsterdam, Union City, and Leicester, we believe everyone can be creative and share the same spirit: dare to innovate. For more information, visit www.outform.com.
About Alrec
Alrec is a full-service provider of brand store, shop-in-shop, and display solutions that give customers meaningful physical interactions with the brands they love. We pride ourselves on taking care of every step of the process, earning the trust of leading global brands. Having worked with global clients for over 60 years, we know what makes the difference. Our DNA is shaped by the relentless drive and commitment to do better every time. For more information, visit www.alrec.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.5 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.
CONTACT: Alex Shakibnia [email protected]
SOURCE Gemspring Capital
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