Calumet Photographic Group, the $200m specialist photographic retailer and flash lighting manufacturer Bowens, has changed ownership.
After 11 years within Rubicon Partners, the London based investment partnership, which saw the growth of Calumet into a multi-channel digital products retailer, and Bowens into a multi-national manufacturer, Calumet Group has been bought in its entirety by HS Real, a holding company based in the US.
Colin Halpern, a British born, US based, entrepreneur will assume the chairmanship of the group with immediate effect. He has a wide ranging experience ranging from engineering, healthcare, property, car rental and fast food, in both the US and the UK.
There are already plans to invest further in the retail presence in Calumet in Europe and the US, and continue Bowensâ€™ investments in the Far East. The initial elements of these plans will be executed during the remainder of 2011, and have progressed during the transaction period.
HS Real is committed to investment, permanent ownership of the group. It recognizes its potential for growth, and its unique position in the market place.