PRESS RELEASE April 21, 2021
Bluefors’ Founders and DevCo Form Long-Term Partnership
- Bluefors’ founders and DevCo form long-term partnership to support Bluefors’ next growth phase
- DevCo becomes a co-owner of Bluefors and brings complementary know-how related to building world leading companies
- Bluefors’ founders will continue as significant co-owners and in their current operational roles. Their contribution will also be instrumental in the next growth phase of Bluefors
- Kimmo Alkio (CEO of TietoEVRY) and Juha Räisänen join the board of Bluefors (Alkio as Chairman). Further, Ilkka Paananen will become strategic advisor to Bluefors’ board
Bluefors’ founders – Rob Blaauwgeers and Pieter Vorselman – and DevCo Partners Oy (“DevCo”) form a long-term partnership to support Bluefors on its growth journey as the world leader in manufacturing cryogenic measurement systems for the field of quantum technology and fundamental physics research. Already today, Bluefors is the preferred choice for ultra-low temperature requirements at universities, research institutes, and corporations globally.
The long-term partnership creates a solid foundation enabling Bluefors to focus on continuing to push the technology boundaries, innovate new products, and develop services to improve customer experience in a rapidly developing market with changing customer needs. Furthermore, Bluefors will have access to complementary know-how and resources enabling significant growth and development investments over the long-term and benefiting Bluefors’ employees, customers, other stakeholders as well as the broader global community.
DevCo is a long-term active owner and development partner based in Finland and will become a co-owner in Bluefors alongside the founders of Bluefors who both will continue as significant co-owners. Furthermore, Rob Blaauwgeers will continue as CEO and Pieter Vorselman as COO of Bluefors. Their contribution will continue to be instrumental during the next growth phase of Bluefors.
“Bluefors was not looking for a partner, but when I met Lauri in early 2019, I got intrigued by DevCo’s model. Over the past two years we stayed in touch and I got to know their approach and broader team even better. It became apparent that by joining forces we would have the best of both worlds – DevCo’s experience from building global businesses and Bluefors as a leader in technology. I’m excited to announce our partnership and thrilled to start the next chapter of the Bluefors story”, says Rob Blaauwgeers, CEO and founder of Bluefors.
“We have been very impressed by what Rob and Pieter and the entire Bluefors team have accomplished since Bluefors’ founding in 2008. Bluefors is already today the global leader in its field and there are significant growth opportunities ahead. We are excited about the opportunity to become a co-owner in Bluefors and to work together with the Bluefors team and will do our utmost to support Bluefors’ development over the long-term”, says Lauri Stadigh, Partner at DevCo Partners.
Phone: +358 40 824 3181
Contact DevCo Partners
Phone: +358 50 524 2800
Bluefors is the world leader in manufacturing cryogenic measurement systems for quantum technology and fundamental physics research. With an anticipated revenue of over EUR 100 million for 2021 and around 250 employees, we are dedicated to delivering the most reliable, easy-to-operate systems and versatile on the market. The quality of our products in combination with our scalable production capabilities, has made us as the preferred choice for ultra-low temperature requirements at universities, research institutes, and corporations globally.
About DevCo Partners
DevCo is a long-term oriented active owner and development partner dedicated to building world-leading companies in selected niche markets. DevCo provides its companies with strategic support, hands-on resources, and significant financial resources to support step changes in their performance. DevCo is currently the owner of two global niche leaders, Vexve Armatury Group and Medix Biochemica. DevCo is based in Helsinki, Finland.