Eton Systems

Tell me about Eton Systems. Who are you?

We are a long-established company located outside Borås, Sweden. Our origin is Eton Shirts, which was founded in the 1920s and became famous worldwide for its shirts. Moving materials during the shirt-making process required a lot of time and effort, so in 1967, Eton Systems was founded. We developed an overhead conveyor system that could transport the right fabric pieces to the seamstress responsible for sewing on the collar, and then transport the garment along the ceiling to the next seamstress who would sew on the cuffs, and so on. The only time a product adds value is when the needle is moving through the fabric, not during transportation or while sitting in a warehouse. The purpose was to optimize production time, have an efficient flow, and operate just-in-time. By moving the material handling to the ceiling, floor space is freed up. Since then, we have only expanded! We have extended beyond the textile industry and are now active in home textiles, furniture production, and the automotive industry. Thanks to our systems, it is possible to have full control over production, achieve better quality, and reduce waste.

How did you get in touch with Travelmate?

Travelmate became an external owner at the end of 2021, while Eton Systems’ management bought the company from the previous owners in a Management Buyout (MBO). We got in touch because I knew Fredrik personally before. I know that Fredrik is a super entrepreneur and interested in new investments, so I had no hesitations in contacting him about this. His expertise in sales and marketing is valuable to us, especially considering our international operations.

How did the idea of Travelmate investing in Eton Systems come about?

Many countries today want to bring a significant portion of production back to their own country for increased control. Therefore, they need to find ways to automate production and reduce costs. When I explained this to Fredrik, he immediately understood the situation and saw the opportunities ahead of us.

Tell me about Eton Systems. Who are you?

How did you get in touch with Travelmate?

How did the idea of Travelmate investing in Eton Systems come about?

What was the process like from start to finish?

It happened very quickly! In November 2021, just eleven months into my role as CEO, I was asked if I was interested in buying the company because the investment company that owned Eton Systems wanted to streamline its portfolio and didn’t believe we belonged there. I was interested, but at the same time, I was afraid it might not work out since we needed to finalize the deal by the end of the year. It was around the same time that I reached out to Fredrik, which turned out to be extremely fortunate! He helped us establish contacts with banks and auditors, and it’s largely thanks to him that everything worked out. Since it wasn’t his first time going through such a process, he made it very smooth, and we managed to complete everything in record time.

What role does Travelmate play for you today? How do they contribute?

Fredrik is currently the Chairman of the Board at Eton Systems, where he contributes his expertise. It’s clear that he has made it a priority to get to know the company, and he gladly visits us once a week. Göran has also visited us, and he is incredibly competent as well! Those of us working at Eton Systems appreciate Travelmate a lot, mainly because they have a deep understanding of and insight into our business. Moreover, it’s noticeable that decisions are made promptly, both due to the proximity of Gothenburg and Borås and the active involvement of Travelmate.

What are the main benefits of the collaboration with Travelmate?

The biggest advantage of Travelmate is that they have been on this journey before. They are fully aware of what it entails to run a company as entrepreneurs, while also being able to contribute their experience in small businesses, growth journeys, entrepreneurship, and board competence. During our first year together, we have accomplished a great deal. We have renewed the organization, established a growth strategy, and laid a solid foundation for continued expansion. The integration between Travelmate and Eton creates an inspiring platform for discussions. There is a weight behind the company – it’s not just about management.