Swedish technology entrepreneur Jakob Tolleryd joins Verdane

Verdane Capital

Verdane today announced it is welcoming technology entrepreneur Jakob Tolleryd to the team. Tolleryd brings invaluable experience, having founded, built and sold five technology companies the past 20 years, and will in his new position as partner help Verdane become the preferred partner to the management teams and owners of ambitious technology enabled growth companies.

“Verdane and I share the same investment philosophy, and have worked together in building several successful businesses over the years. Verdane stands out as the most attractive player in this market, and for me, after working together with the team for almost 10 years, joining them is the natural next step,” says Jakob Tolleryd.

Together, Tolleryd and Verdane have a long-standing and successful history of building fast-growing companies. In 2005, Tolleryd founded consumer finance comparison company, Compricer, which became part of Verdane Capital VII K/S’ (Verdane) portfolio in 2011, and was sold to Schibsted Media Group in 2013. The list of companies where Verdane and Tolleryd has joined forces also include companies such as MatHem, EasyArt and Desenio.

Tolleryd started his entrepreneurial career in 1996, and has since built an impressive track record founding companies such as Domain Network, Carambole, and Klikki, as well as Compricer and EasyArt. As part of the Verdane team, Tolleryd will contribute with his strong entrepreneurial background and experience from building fast-growing and profitable businesses.

“Verdane has a leading position within e-commerce and technology in the Nordics, having invested in companies such as newly listed Boozt, MatHem, Desenio, BabyShop and Outnorth. Among entrepreneurs, Verdane is considered a power house in this space, with its extensive network, in-depth expertise and experience in building tailored solutions to grow this type of businesses,” he says.

Over the past years, Verdane funds have invested in 158 companies within software and e-commerce, and have realised 96 companies. The current portfolio is on average growing with over 20% per year. According to Verdane’s managing partner Bjarne Lie, the addition of Jakob Tolleryd will position the company well to successfully source and execute more investments in this area.

“Digital transformation has been the main driver of the e-commerce boost over the past decade. Now, other and more mature industries will have to digitalise businesses and go-to-market models, creating opportunities for players with a tailored digital methodology and solutions. By welcoming Jakob Tolleryd to the team, Verdane confirms its leading position within this field of expertise,” he says.
For further information, please contact:

Bjarne Lie, bjarne.lie@verdanecapital.com or +47 918 15 508
About Verdane Capital Advisors and Verdane funds

Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 28 employees working out of offices in Oslo, Stockholm, and Helsinki. More information can be found at: www.verdanecapital.com

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NPM invests in Suitsupply’s growth

NPM Capital

Private equity firm NPM Capital has reached an agreement with Suitsupply regarding an investment in the company which will further accelerate the international expansion and online sales activities. Suitsupply currently operates 91 stores in 73 cities on 3 continents. More than 75% of sales are generated outside of the Netherlands, and almost 30% of sales occur online.

Suitsupply was founded in 1999 by Fokke de Jong, who still serves as CEO. De Jong started Suitsupply as a web-only store, and became an early adaptor to the omnichannel strategy when he opened a physical store in 2000. The company managed to score headline reviews with its groundbreaking concept of selling high quality semi-tailored suits at prices previously unheard of. The Wall Street Journal declared the quality to be similar to competitors which were selling at prices up to 6 times higher. In 17 years, the company has become a widely recognized brand in Europe, the US, and Asia. Suitsupply is active in the whole value chain; from design, sourcing, production, distribution to end-user sales, through a network of both physical stores and a webstore.

With the growth capital supplied by NPM Capital, Suitsupply will accelerate its growth even further. The company’s growth plan aims to open more stores worldwide, and renew a large part of the Dutch store portfolio. Suitsupply will expand its leading position in online sales through further investments in technology, aiming to strengthen the symbiotic relationship between sales in physical and online stores. Additionally, Suitsupply will invest in the recently launched women’s line, Suistudio. Suistudio has had a very promising start, and already has stores in Amsterdam, New York and Shanghai, in addition to a webstore.

NPM Capital sees Suitsupply as a promising company, which can grow even faster than it has been growing. Bart Coopmans, managing director at NPM Capital: “Suitsupply is one of the diamonds of Dutch entrepreneurship. Through its unique business model and disruptive approach, the company has realized an incredible expansion in recent years. The model has been proven in various geographies and is very scalable. Through its strong position in the value chain, the well-developed omnichannel sales proposition, and focus on the US and Asia, we see significant potential for further growth. We believe that our profile fits well with a company such as Suitsupply, and we are excited to provide Suitsupply with the growth capital it needs to realize its full potential”.

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IK Investment Partners to sell Ramudden

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VII Fund has reached an agreement with funds advised by Triton (“Triton”) to sell the Ramudden Group (“Ramudden” or “the Company”), a leading Nordic provider of work zone safety solutions. 

Founded in 2005, Ramudden is a specialist provider of work zone safety solutions for the road, construction and industrial sectors. The service offering includes rental of road barriers, signage, traffic and road signs, concrete systems, industrial heating solutions, traffic arrangement plans, surveillance and maintenance service as well as safety education programmes.

With a presence in Sweden, Norway, Finland and Estonia through their own depots, the Company has an unrivalled ability to quickly adapt to changing client expectations and market conditions, with a high level of customer satisfaction. Ramudden employs over 450 people, and has a turnover exceeding 700 MSEK (2017).

“During the past 3,5 years, we have worked closely with the management team to transform the business from a provider of temporary traffic control services to a work zone safety specialist. The Company has more than doubled the turnover, and successfully executed five add-on acquisitions, strengthening their presence in core geographies and expanding into the Baltics. We would like to thank Hans-Olov, the management team and all of Ramudden’s employees for their hard work and dedication, and wish them all the best on their continued journey,” said Kristian Carlsson Kemppinen, Partner at IK Investment Partners and advisor to the IK VII Fund.

“IK has been instrumental to Ramudden’s significant growth over the past couple of years. Thanks to their support, we have been able to rapidly expand our depot network, improve our operational structure and invest even more in our staff. We are looking forward to continuing our development together with Triton,” said Hans-Olov Blom, CEO and founder of Ramudden.

Financial terms of the transaction are not disclosed. Completion of the transaction is subject to legal and regulatory approvals.

For further questions, please contact:

IK Investment Partners
Kristian Carlsson Kemppinen
Partner
Phone: +46 8 678 95 00

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

Ramudden
Hans-Olov Blom
CEO
Phone: +46 26 66 89 80

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Ramudden
Ramudden provides the market in Sweden, Norway, Finland and Estonia with work zone safety solutions, including rental of essential equipment (such as traffic barriers and guide signs), traffic arrangement planning, and education, surveillance and maintenance services. Customers are mainly civil engineering contractors and construction companies. For more information, please visit www.ramudden.se

 

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IK Investment Partners to sell passive fire protection expert svt Group to Ergon Capital

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund (“the Fund”) has reached an agreement to sell svt Group (“svt” or “the Company”), a leading provider of passive fire protection products and services as well as restoration management services, to Ergon Capital Partners III (“Ergon”). Financial terms of the transaction are not disclosed.

svt is the leading company in Passive Fire Protection (PFP) and Restoration Management (RM) in Germany with c. 50 years of experience. The PFP business comprises the full value chain from R&D to manufacturing as well as installation services of fire preventing and resistant products that are sold either to OEM or construction customers. svt is a pioneer in passive fire protection systems since 1977 and the only player being forward integrated into PFP installation business. Blue chip customers like Siemens, Bombardier, CRCC, Airbus, OBO Bettermann and Würth rely on svt PFP products. Landmark PFP Installation references include European Central Bank building and Eurotower in Frankfurt.

In addition, svt offers one-stop-shop services in Restoration Management specialising in fire, water and natural hazard damage restoration as well as pollutant removal.

During the Fund`s ownership, the Company grew its revenues from €80m to ca. €114m and its employees from 322 to 450 while investing significant resources into R&D and product development. svt obtained for the first time in its history a large number of licenses from the international certification organisation/company Underwriters Laboratories (UL), enabling the further internationalization of the products. Consequently, the Company built out its international presence by opening new locations in Singapore and Ajman to serve the international markets with its strong product base. svt`s acquisition of AIK Flammadur Brandschutz in 2016, to further expand the PFP products offering for transportation OEMs, underscores IK`s focus on supporting its portfolio companies to grow via add-on acquisitions.

As a consequence, svt has increased its revenue with PFP Products to the OEM customers by more than five times and also doubled, as a Group, its absolute operating earnings during the Fund`s investment period.

“It has been a pleasure working with Steffen Gerdau and his team, and we would like to thank all of svt’s employees for their hard work over the last years. Together we have managed to grow the business significantly, both in Germany and abroad. svt was the first investment in the IK Small Cap I Fund, and clearly demonstrates IK’s approach to value creation, by way of enlarging the products offering, drive internationalisation and growing via acquisitions,” said Anders Petersson, Partner at IK Investment Partners and advisor to the IK Small Cap I Fund.

“We enjoyed working with the IK team. With their support, we have completed a synergetic add-on acquisition with AIK Flammadur, invested into our development capabilities and product offering as well as expanded our international footprint. I am now looking forward to continuing the internationalization and growth with Ergon,” said Steffen Gerdau, CEO of svt Group.

Completion of the transaction is subject to merger control approvals.

About svt Group
For more information, visit www.svt.de   

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

For further questions, please contact: 

IK Investment Partners
Anders Petersson
Partner
Phone: +49 40 369 8850

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

svt Group
Steffen Gerdau
CEO
Phone: +49 4105 409056

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Litorina invests in Digpro

Litorina

Litorina V AB acquires a majority stake in Digpro, the leading provider of geographic information systems to network companies and municipalities. Digpro offers a fully proprietary system for its customers, which enables detailed network documentation and support for critical internal processes. The company’s management team and former main owners, including the founders Bo Lundgren, Svante Mjörne and Per Westberg, will remain as sizable minority owners.

Digpro was founded in 1989 in Stockholm and has since grown successfully reaching a turnover of more than SEK 100 million in the last fiscal year with good profitability. The company has historically focused on the Swedish market where it offers solutions for network owners within the electricity, district heating, water and wastewater, gas and telecom markets as well as solutions for municipalities. Digpro has over 130 customers, whereof the majority of these customers comprise of electricity network owners, including leading players in Sweden such as E.ON, Göteborg Energi and Kraftringen. During the last few years, the company has increased its presence outside of Sweden and today Digpro has customers in a number of export markets, such as Norway, Finland, Poland and Turkey. The headquarter is located in Stockholm.

To support the company’s international expansion, Zobito will become a minority owner in Digpro as part of the transaction. Magnus Lindhe, partner at Zobito, with over 10 years of experience from managerial roles at the international software company QlikTech, will be part of the new board of directors together with Litorina.

”We are very proud of Digpro’s development since the start in 1989. We have built a strong company with talented employees. With our solid market position in Sweden as a platform, we have been able to begin our international expansion to continue to expand our customer base” says Bo Lundgren, co-owner and CEO of Digpro. ”We are convinced that we together with Litorina and the new board will be able to accelerate our international expansion through increased sales and marketing efforts in new geographies as our customer solution is highly competitive also in a global context.”

”Digpro’s strong corporate culture with focus on developing technically advanced and customer critical IT solutions for network owners, the company’s continuous focus on improvements coupled with the management team’s proven ability to drive profitable growth makes Digpro an exciting investment opportunity for Litorina” says Lars Verneholt, Partner at Litorina V Advisor AB, investment advisor to Litorina V AB. ”We look forward to supporting Digpro in its continued international expansion with an increased focus on sales and marketing efforts in new markets.”

For further information, please contact:

Lars Verneholt, +46 733 86 92 07, Partner, Litorina V Advisor AB
Bo Lundgren, +46 707 45 26 14, CEO, Digpro AB

Digpro, founded in 1989, develops, markets and sells its own fully proprietary geographic information system for network owners and municipalities. The company has more than 130 customers with the majority based in its home market in Sweden. The company has a growing international presence, with customers in Norway, Finland, Poland and Turkey. Digpro is the leading provider to electricity network owners in Sweden with an estimated market share of c. 50%. The company is headquartered in Stockholm and has approximately 100 employees. For more information, please visit www.digpro.se.

Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina V Advisor AB serves as an investment advisor to the Swedish private equity fund Litorina V AB. For more information, please visit www.litorina.se.

 

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IK Investment Partners to sell passive fire protection expert svt Group to Ergon Capital

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund (“the Fund”) has reached an agreement to sell svt Group (“svt” or “the Company”), a leading provider of passive fire protection products and services as well as restoration management services, to Ergon Capital Partners III (“Ergon”). Financial terms of the transaction are not disclosed.

svt is the leading company in Passive Fire Protection (PFP) and Restoration Management (RM) in Germany with c. 50 years of experience. The PFP business comprises the full value chain from R&D to manufacturing as well as installation services of fire preventing and resistant products that are sold either to OEM or construction customers. svt is a pioneer in passive fire protection systems since 1977 and the only player being forward integrated into PFP installation business. Blue chip customers like Siemens, Bombardier, CRCC, Airbus, OBO Bettermann and Würth rely on svt PFP products. Landmark PFP Installation references include European Central Bank building and Eurotower in Frankfurt.

In addition, svt offers one-stop-shop services in Restoration Management specialising in fire, water and natural hazard damage restoration as well as pollutant removal.

During the Fund`s ownership, the Company grew its revenues from €80m to ca. €114m and its employees from 322 to 450 while investing significant resources into R&D and product development. svt obtained for the first time in its history a large number of licenses from the international certification organisation/company Underwriters Laboratories (UL), enabling the further internationalization of the products. Consequently, the Company built out its international presence by opening new locations in Singapore and Ajman to serve the international markets with its strong product base. svt`s acquisition of AIK Flammadur Brandschutz in 2016, to further expand the PFP products offering for transportation OEMs, underscores IK`s focus on supporting its portfolio companies to grow via add-on acquisitions.

As a consequence, svt has increased its revenue with PFP Products to the OEM customers by more than five times and also doubled, as a Group, its absolute operating earnings during the Fund`s investment period.

“It has been a pleasure working with Steffen Gerdau and his team, and we would like to thank all of svt’s employees for their hard work over the last years. Together we have managed to grow the business significantly, both in Germany and abroad. svt was the first investment in the IK Small Cap I Fund, and clearly demonstrates IK’s approach to value creation, by way of enlarging the products offering, drive internationalisation and growing via acquisitions,” said Anders Petersson, Partner at IK Investment Partners and advisor to the IK Small Cap I Fund.

“We enjoyed working with the IK team. With their support, we have completed a synergetic add-on acquisition with AIK Flammadur, invested into our development capabilities and product offering as well as expanded our international footprint. I am now looking forward to continuing the internationalization and growth with Ergon,” said Steffen Gerdau, CEO of svt Group.

Completion of the transaction is subject to merger control approvals.

For further questions, please contact:

IK Investment Partners
Anders Petersson
Partner
Phone: +49 40 369 8850

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

svt Group
Steffen Gerdau
CEO
Phone: +49 4105 409056

About svt Group
For more information, visit www.svt.de

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com 

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Gimv divests natural climate control and fire safety specialist Brakel to Kingspan

GIMV

Brakel, a leading European climate control and fire safety specialist for commercial and industrial buildings, has been acquired by Kingspan, a global leader in innovative high performance insulation and building envelope solutions.

For 40 years, Brakel (www.brakel.com) has been a market leader in the Benelux region and the UK in the field of high-end quality solutions for glass daylight constructions (glass roofs and skylights), ventilation systems (top hung windows and flap ventilators) and fire safety systems (fire detection, smoke and heat extraction installations) in commercial and industrial buildings. These solutions are in response to the increasing demand for a comfortable, sustainable and safe indoor climate, using natural light and outside air. They are also made from high-quality recyclable materials, such as glass and aluminium. Brakel takes care of the production, distribution in the EU and the installation as well as the maintenance of these systems in the Benelux and UK. Gimv bought a majority stake in the company in 2015, and provided additional capital for the add-on acquisition of ArginaTechnics in 2016.

“Together with Gimv, Brakel has established a stable platform with sustainable products and an increased market position. Our ambition to penetrate in the EU end market and to expand our global distribution network is being strengthened and supported by Kingspan. We find in Kingspan an outstanding shareholder to accelerate the realisation of Brakel’s ambition with a shared vision to create energy-efficient and sustainable building envelopes providing maximum comfort and safety for end users. As part of Kingspan’s Light & Air division, we find an excellent foundation for continued growth and development of the business and its employees,“ says Ton van Gerwen, CEO of Brakel.

Rombout Poos, Principal within Gimv‘s Sustainable Cities platform comments: “Gimv is proud of having supported Brakel in its further expansion during the past years. Management did an excellent job to achieve this!”

Over the entire holding period, the investment in Brakel generated a return above Gimv’s long-term average return. No further details about this transaction will be disclosed.

 

 

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Nordic Capital increases its shareholding in Nordax

Nordic Capital increases its shareholding in Nordax ImageNordic Capital Fund VIII (“Nordic Capital”)1 has entered into a call option agreement with the investment company R12 Kapital (“R12”) which entitles Nordic Capital to acquire an additional 2.94% of the shares in Nordax Group AB (publ) (“Nordax”), subject to receiving approval by the Swedish Financial Supervisory Authority (“SFSA”). Nordic Capital is currently the largest shareholder in Nordax with a shareholding of 9.96%. The call option agreement entered into with R12, together with the already existing call option arrangement in place with Carnegie, entitle Nordic Capital to acquire a further total of 12.44% of the shares in Nordax.

Nordax is a leading niche bank in Northern Europe with approximately 120,000 loan customers and 28,000 savings customers. Nordax is focused on large, long duration personal loans and deposit accounts. Nordic Capital is one of the longest established and most active private equity investors in the Nordic region, with a strong track record from investments in the financial services sector, including Resurs Bank, Lindorff and Nordnet. Nordic Capital holds majority or minority positions in private or public companies, and acts as an active owner, contributing to the long term development of such companies through representation on the Board of Directors.

Nordic Capital

Nordic Capital has entered into a call option arrangement with R12 through which Nordic Capital has the right to acquire all Nordax shares currently held by R12. It is the intention of Nordic Capital to exercise this call option upon receipt of necessary approvals from the SFSA. Until SFSA approval has been obtained, and prior to any exercise of the call option, there will be no voting cooperation, veto rights or other agreements or understandings between Nordic Capital and R12 as regards exercise of influence over Nordax. A filing for SFSA approval that will give Nordic Capital the right to exercise such option was made when Nordic Capital acquired its initial shareholding in Nordax in October 2017.

 

[1] Nordic Capital refers to Nordic Capital Fund VIII and any, or all, of its predecessor funds depending on the context.

 

Press contact:

Elin Ljung, Director of Communication and Sustainability
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 10
e-mail: elin.ljung@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

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Actis energy platform Zuma Energía reaches financial close on two further solar farms in Mexico

Actis

Actis today announced that its renewable energy platform Zuma Energía, has secured close to US$300 million project financing for the construction of two solar farms in Mexico, with a total capacity of 337 MW.

The solar parks Orejana and Santa María, which will be built in Sonora and Chihuahua, respectively, were awarded in the Second Long-term Electricity Auction. Once operational the farms will supply over 500,000 homes with clean energy and mitigate over 280,000 thousand tons of CO2 emission per year, from over 1 million solar panels.

The Orejana solar park, in Hermosillo, Sonora, will have a capacity of 158 MW and the Santa María solar park in Galeana, Chihuahua will have a capacity of 179 MW. Zuma Energia is exploring opportunities with local SMEs and value chains for the construction, operational and maintenance stages of the projects, in order to generate employment and long-term economic benefits.

These latest closes follow the financial closure of Reynosa Wind Farm in August, one of the largest wind farms in Latin America with a total capacity of 424 MW.  Reynosa Wind Farm was the first project to achieve financial close on project financing of all projects awarded Power Purchase Awards in the long term electricity auctions held in 2016.

In addition to the Orejana, Santa Maria and Reynosa Wind Farm, Zuma Energía has a 50MW wind farm in operation in Oaxaca. This portfolio has positioned Zuma as a leading Mexican provider of clean energy certificates in the country -2.3 million a year.

Actis created Zuma in 2014, in three years the company has secured an 800MW portfolio. Actis holds an 80% and Mesomerica Investments holds 20% stake in Zuma Energia.

Actis is one of the most significant private investors in renewable energy projects across Latin America. The firm has committed over US$4.8 billion in 32 energy companies across 25+ countries generating 17GW of energy capacity and directly impacted 68 million consumers.

Adrian Katzew, CEO of Zuma Energía, commented: “At Zuma Energía we are very grateful for the trust deposited upon us by our shareholder and lenders, and the dedication from all the banks and advisors to establish the principles of these new financial structures.  Also, my gratitude to the extraordinary work performed by Zuma´s team.”

Michael Harrington, Board Member of Zuma and Partner and Head of Mexico at Actis commented: “We are seeing the energy reforms play out and attract new players and international funding. Mexico has compelling fundamentals for investing in power generation, including superior natural resources, an evolving and supportive regulatory framework and a deep project finance capacity.”

Project financing was secured through Bancomext, Banobras, Nafin and the North American Development Bank (Nadbank).

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Frontmatec to invest in China

Axcel

Frontmatec has entered into an agreement to acquire Jining Xinglong Food Machinery Manufacturing Co., Ltd. (“Xinglong”), a leading supplier of equipment to the red meat industry in China. The transaction will provide Frontmatec with market access in China and in addition a local production setup dedicated for the Chinese market. Furthermore, Xinglong will benefit from transfer of advanced technology from Frontmatec.

“We have been in close dialogue with Xinglong for nearly one year, and we are very impressed with the development of the company and the current management team. Xinglong has strong capabilities within the industry and close relationships with the largest customers in China. The acquisition enables Frontmatec to strengthen our market position and to be able to tap into the large growth potential in China.”

– Henrik Andersen, CEO

Founded in 2001, Xinglong is a reputable Chinese slaughtering equipment enterprise, offering cost-effective equipment and technologies adapted to livestock and poultry slaughtering in China and other developing countries.

“I am very pleased about the partnership agreement with Frontmatec. I am confident that the envisioned combination of the technologies and know-how of the two companies will lead to a prosperous future”

– Mr. Wang, Founder of Xinglong

China is the world’s single largest market accounting for approx. 50% of all pigs slaughtered globally. The market is expected to experience strong growth going forward driven by i) an increased demand for more automated and high speed solutions and ii) an increased focus on food safety.

“This is another big step forward for Frontmatec, and we are happy to welcome Xinglong into the Frontmatec family. I am convinced that both companies can benefit from each other and that the combination will result in a much stronger value proposition towards our customers, which will fuel future growth”

– Arne Vraalsen, Chairman of the board

Going forward, Xinglong will continue to serve the Chinese market from its current base in Jining under its current brand name. However, in order to accelerate the sales of more advanced solutions in China, Frontmatec will support Xinglong with relevant technology and competences.

 

The completion of the transaction is subject to final closing, which is expected to happen within the coming months.

 

 

About Xinglong

Xinglong is a leading supplier of equipment to the red meat industry in China. The main focus of the company is slaughtering solutions to pig and cattle in the mid/high line speed segment. Xinglong is mainly supplying Chinese customers, but also has customers outside China. The company is located in Jining (Shandong province) and currently employs 234 employees.

 

About Frontmatec

Frontmatec develops world-leading customized solutions for automation in the food industry, other hygiene sensitive industries and the utilities industry. We are especially renowned for our high-quality systems for the entire value chain in the meat industry – from hygiene systems to control systems, from carcass grading to slaughter lines, from cutting and deboning lines to logistics and packaging. Frontmatec employs more than 1000 employees in 10 countries with a turnover of +200M EUR.

 

For additional information please contact CEO Henrik Andersen (+45 29 60 69 55) or COO Kristian Madsen (+45 60 20 01 22).

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