The Army Painter has not been “sold”; CataCap has brought new capital to The Army Painter for a 60% share of the company.
The Army Painter has experienced pretty wild growth since its inception in 2007, and at times, almost any company that experiences such growth will eventually take on a partner.
When translated with Google, a recent LinkedIn post has some errors that make it sound like The Army Painter has been sold to another firm.
Has The Army Painter Actually Been Sold?
Let’s first look at what is happening with the current leadership team and what is tentatively changing hands at The Army Painter, according to CataCap:
CataCap has acquired 60% of The Army Painter… CEO and co-founder of The Army Painter, Bo Penstoft, will remain a significant shareholder and continue to support the company on its future growth journey on a day-to-day basis.
They continue to tell us more about the essential role CataCap will play:
CataCap will support future growth at The Army Painter while ensuring that the “for-gamers, by-gamers” ethos and company culture is maintained. CataCap will help The Army Painter team pursue further penetration of core and new markets and assist in delivering on an innovative product roadmap that will continue to cater to hobbyist needs. As an integral part of this, CataCap will help strengthen the underlying platform of The Army Painter – focusing on people, systems, and processes. Likewise, CataCap will work on developing the ESG profile of the company, with the goal of creating an industry leader focused on e.g. innovative packaging solutions and community involvement.
So, it’s not a sale of the company but more of bringing in a partner who can help with distribution, increase the brand’s reach, and bring more products to light. Bo will remain on and help run things as a significant partner but focus more on making excellent products.
The founders of TAP, Bo Penstoft and Jonas Færing have done something incredible with the company and made TAP a leader in the paint industry for wargaming. When a company gets to a certain size, the founders’ job inevitably becomes administrative at some point instead of creative.
This sale feels like it will give the founders what they are looking for in the company and the chance to remain creative!
What is Happening With the Future of The Army Painter?
“…the sale is a good thing for the company. After record growth, this investment will allow them to continue to meet the growing demand for their product, something other paint suppliers have struggled with during and post-pandemic…
Bo now has to freedom to refocus on what he loves best, making cool products and playing a creative role in the company. This is good news for Bo, Jonas, the TAP team, and their customers. Expect big things from the company.”
That is from a source close to the company that told us a lot more about the sale, what is happening with the deal, and with the company overall moving forward.
Many wargaming companies have struggled to meet demand in the past few years. So if this deal can help them keep up with the market, it seems like a good move.
On top of that, giving Bo the freedom to be creative and make fantastic products is also good. From the looks of it, he still has a large share of the company and will be involved daily, so there is no need to worry.
Right now, this could be a huge boon for The Army Painter overall and a way for them to continue to expand.
What are your thoughts about a new partner for The Army Painter?
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About the Author: Travis Pasch
