Army Painter has a new CEO; come see what Bo Penstoft will be doing now that Sten Dyrmose will be helming this venerable hobby company.
Don’t worry; Bo is not leaving the company or anything like that; he’s still part owner and will now be taking a more hands-on role in developing products. This move will hopefully let them continue to innovate new products and keep things rolling and customers happy.
We’ll also look at the recent acquisition from CataCap, as these are some pretty big changes from them. However, they both look to be focused on growing the company and getting more for their customers.
The Army Painter Gets a New CEO
This announcement comes Directly from The Army Painter Facebook.
Sten has more than 25 years of business and technology experience in strategic areas such as product development, strategic development, and global management, just to name a few.
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 massive boon for The Army Painter and a way for them to continue expanding.
What are your thoughts about a new partner for The Army Painter and a new CEO?
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About the Author: Travis Pasch
Travis Pasch
Job Title: Head Writer & Editor
Socials: @paschbass
About Travis Pasch: Travis has been a Warhammer 40k hobbyist since the 1990s, playing the game since Third Edition. Through extensive traveling, he’s seen a lot of the miniatures hobby from across the world, giving him a unique perspective on the latest gaming topics and trends.
Travis’s brother even owns a commission painting studio, where he’s picked up a lot of good advice and techniques for painting Warhammer and tabletop miniatures over the years, as well. Travis joined the Spikey Bits team in 2019 and has been the lead writer since 2020.
Currently, he’s working on converting all his 40k Adeptus Mechanicus models and becoming a true tech enjoyer, complete with both sad and happy robot noises!
