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14.09.2021

MyFootBalance scanner in use by two people

FootBalance partners with IPGL & gets fit for the future

FootBalance is pleased to announce that Lord Spencer’s private investment company, IPGL Limited has acquired Scope Growth II L.P. shareholding in FootBalance Systems OY. 

FootBalance, the global foot health company and category leader in custom insoles, has agreed a partnership with new capital investor, IPGL, that will enable the company to accelerate its expansion and growth, whilst bringing it closer to its mission to support more people with better foot health. As a new health-based mentality sweeps across the world and demand for personalised products and experiences grows, FootBalance’s latest 3D foot scanning technology, MyFootBalance® offers consumers a unique all-in-one fitting experience from personalised foot scan, biomechanical foot analysis and custom product recommendation.

FootBalance CEO, Klaus Rauhansalo states “IPGL is a great fit for FootBalance, having extensive knowledge and expertise across technology, retail and medical service sectors. Together we plan to grow the FootBalance brand, invest in our proprietary MyFootBalance® 3D foot scanning technology, further develop our product portfolio and extend our distribution and geographic reach.”

Erkki Hakkala, FootBalance Founder adds, “There is an increasing expectation for health-based products and services to be personalised and with our game-changing MyFootBalance® technology and award-winning custom products, we are excited to partner with IPGL.”

“With 75% of the world population living with issues relating to foot misalignment, we are looking forward to working with the management team to continue to extend FootBalance’s reach, helping provide better foot health and wellbeing” says Iain Torrens at IPGL.    

“FootBalance has during our ownership evolved from a local provider of insoles to become a global category leader in foot health technology. We are proud to have supported the management team in developing the organisation, creating new technology and establishing its international operations. FootBalance has a solid position for continued growth, and we believe that IPGL is an ideal partner for FootBalance next phase” says Andreas Ossmark, Partner at Scope.

About FootBalance:

FootBalance is a Nordic, health driven brand which custom creates a personalised fit through its advanced 3D foot scanning technology and supporting product portfolio, including its award-winning custom insole programme. Improving quality of life, keeping customers active, fit and pain-free, FootBalance is present in more than 50 countries across 1,500 points of distribution, having conducted more than 5 million foot analyses and sold over 4 million pairs of custom insoles.

About IPGL:

IPGL is the private investment company of Lord Spencer, the City of London Entrepreneur who founded the global inter-dealer broking firm ICAP plc.

About Scope:

The Scope Funds invest in Nordic growth opportunities. The objective is to generate high, risk-adjusted, financial returns in any economic environment. Investments are made in companies based on innovation and creativity with proven value added. As an active owner, Scope partners with management to create companies with internationally scalable platforms that support sustainable growth. Scope Capital Advisory, with operations based in Stockholm and Geneva, is advisor to the funds. For further details go to www.scope.se

Contact information:

 

Erkki Hakkala

Founder - FootBalance System Ltd.

Tel: +358 50 3687713  / erkki.hakkala@footbalance.com

 

Klaus Rauhansalo

CEO – FootBalance System Ltd.

Tel: +358 40 751 5861  / klaus.rauhansalo@footbalance.com