Henry County Company sells its European subsidiary

Draper Inc. is headquartered in the town of Spiceland, Henry County. (photo courtesy of Draper)

Draper Inc., based in Spiceland, announced the sale of its Swedish subsidiary. The company says Draper Europe AB, which makes projection screens, awnings and window coverings, will now operate under the ownership of its current management team.

Financial terms of the deal were not disclosed. Led by chief executive Tomas Andersson, Draper Europe will continue to operate under the Draper brand this year, although the company has not said whether that will change next year.

“In the 25 years I’ve been with the company, we’ve had an incredible journey,” Andersson said in a press release. “Under Draper’s ownership and guidance, we have experienced steady growth over the years and diversified into the Nordic awning and awning markets in 2012. Against this background and with the acquisition of local , we will continue to develop and grow our position.”

Draper Inc. acquired the company in 2002. Chairman Chris Broome said the sale will allow the Henry County company to invest in its manufacturing operations in Indiana.

Draper Inc. is a manufacturer of awnings, audio visual equipment and gymnasiums.