Proglove exit: Nordic Capital becomes majority shareholder

Go back

European private equity investor Nordic Capital disclosed an investment in Proglove, becoming majority owner. The amount of the exit is unknown, however, according to media reports, the valuation of ProGlove is now around 500 million euros.

ProGlove is a technology pioneer and produces the world's smallest, lightest and most robust barcode scanners that can be integrated into gloves. Thomas Kirchner, Paul Günther, Jonas Girardet and Alexander Grots founded the company in 2014. The technology is said to allow companies to save four seconds per scan. Some of the founders and many of the Proglove employees in the early years are graduates of the Academic Program for Entrepreneurship (APE). The APE program was co-initiated back in 2008/2009, again by Proglove co-founder Alex Grots, among others.

ProGlove's industrial wearables connect the worker on the shop floor with the Internet of Things. The wearables, combined with ProGlove's industrial analytics software platform, promote human-machine collaboration and drive digitization in manufacturing. ProGlove's customers include some of the best-known global industrial brands, pioneers and innovators in manufacturing and production, logistics and warehousing, retail and e-commerce, and postal and parcel services. Founded in 2014, the company employs more than 300 people from over 30 countries and has offices in Chicago, Munich and Belgrade, Serbia. More at About Nordic Capital Nordic Capital is a leading private equity investor determined to create stronger, more sustainable businesses through operational improvements and transformative growth. Nordic Capital focuses on selected regions and sectors where it has extensive experience and a long history. Focus sectors are healthcare, technology and payments, financial services and selectively industrial and business services. Key regions are Europe and globally for healthcare and technology and payments investments. Since its inception in 1989, Nordic Capital has invested more than €20 billion in over 125 investments. Committed capital is mainly provided by international institutional investors such as pension funds. Nordic Capital Advisors have offices in Sweden, the United Kingdom, the United States, Germany, Denmark, Finland, Norway and South Korea. For more information about Nordic Capital, visit