PROCURITAS
24.8.2021 09:32:05 CEST | Business Wire | Press release
Procuritas Capital Investors V (“Procuritas”), the private equity investor focused on investing in and growing Nordic mid-market companies, today announced that it has sold Dantherm Group (“Dantherm”), the leading provider of climate control products and solutions, to German private equity fund, DBAG Fund VIII, advised by Deutsche Beteiligungs AG.
Headquartered in Denmark, Dantherm has more than 60 years’ experience in designing and manufacturing high quality and energy efficient equipment for heating, cooling, drying, cleaning and ventilation for a wide range of portable and installed applications.
After acquiring the business in 2016, Procuritas invested in Dantherm to enable it to expand the geographical presence, to expand the product range and to take a leading market position in its core businesses in Europe.
Alongside the expansion of the business’ sales capabilities, strengthened senior management team and investment in its own manufacturing capacity, Procuritas utilized its extensive value creation expertise and network to partner with the Group to implement an active buy and build strategy. Under Procuritas’ ownership, Dantherm acquired close to 20 entities in its core markets of the UK, Italy, Denmark, Germany, France, Poland, Russia, Switzerland and Spain, realizing considerable integration synergies and significantly expanding the group’s capabilities and scale, resulting in a more than threefold rise in revenues and EBITDA growth of almost 700%.
Dantherm now operates in Norway, Sweden, Denmark, United Kingdom, Germany, Switzerland, Italy, Spain, Poland, Russia, France and China, where its strong brands – Aerial, Aircenter, BioCool, Calorex, Dantherm, Heylo, Master, SET and Sovelor – have well-established market positions. The group’s customers benefit from a comprehensive knowledge base and the experience and expertise from more than three million climate control products and solutions sold worldwide.
Hans Wikse, Partner at Procuritas, commented: “We are delighted to have sold Dantherm to DBAG Fund VIII, advised by Deutsche Beteiligungs AG, having received keen interest from several parties. We think it is a great fit for the company and they will have a great future. Dantherm has been a classic buy and build investment for Procuritas and our strategy was implemented following the methodical process we have undertaken with many other investments over the years.”
Bjarke Brøns, CEO of Dantherm commented: “ Over the past six years we have transformed Dantherm to become a market leading provider of selected climate control solutions. Procuritas has been a great partner to work with and their expertise in transforming companies through acquisition and by institutionalizing the business has been a great support as we have grown the Group. We see continued and extended market opportunities within our business and are excited to continue the development of Dantherm in the future with DBAG.”
Oskar Lindholm-Wu, Partner at Procuritas, commented: “It has been a pleasure to work with the Dantherm team, putting our passion for building strong sustainable businesses through transformational growth to work. Together, we have achieved remarkable growth, transforming the group into the leader in all its core markets across Europe. We wish Dantherm a prosperous future.”
DC Advisory served as M&A advisor, Kromann Reumert as legal advisor and EY as financial due diligence advisor to Procuritas and Dantherm in connection with the transaction.
About Procuritas
Procuritas is a private equity investor, focused on investing in and growing Nordic mid-market companies. With a passion for business, hands-on active ownership approach and more than thirty-year record from a large variety of transactions, it has supported more than 45 companies in accelerating their growth and realizing their true business potential. As owners, Procuritas is characterized by its enthusiasm, commitment, and strong belief that it is an ally in the quest to build strong and sustainable businesses. Read more at www.procuritas.com .
About Dantherm Group
Headquartered in Skive, Denmark, the Dantherm Group is a European leader in portable and installed climate control solutions for a wide range of industries within heating, drying, cooling, cleaning and ventilation. Dantherm has subsidiaries in Norway, Sweden, UK, Germany, Switzerland, Italy, France, Spain, Poland, Russia and China. In 2016 the Dantherm Group was acquired by Procuritas Capital Investors V LP. Read more at www.danthermgroup.com .
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