Danish wind power
Verdane Capital has just completed their biggest acquisition in Denmark with the takeover of three successful companies JSB Group, Jupiter Group, and Polytech. These three companies, which have been owned by among others Danish Pentaco Partners up until now, all produce components for the world’s leading wind turbine manufacturers – including Vestas, Siemens, and General Electric. The companies’ Danish headquarters are located in Ringkøbing, Køge, and Bramming with production facilities in Poland, China, and in the US.
“Our objective with the acquisition of JSB Group, Jupiter Group, and Polytech is primarily to drive expansion and take the companies to the next stage on a global scale. All three companies have shown significant growth and we see further potential based on the strategic initiatives that we have identified in close cooperation with the existing management teams,” says Emanuel Johnsson from the Verdane Capital Advisors investment team in Stockholm.
Seller: The right buyer for creating further growth
The selling party is pleased to see Verdane Capital taking over the companies:
”All three companies have developed in the way that we intended, and they all show satisfactory financial results. Now however, the time is right for the three companies to shift gear. Verdane Capital has experience within this sector and will be able to contribute with strong competence to drive further global expansion in all three companies. Importantly, Verdane Capital will continue to develop the companies abroad as well as in Denmark, where the management, product development, and advanced production takes place. Therefore, we look forward to follow the companies into the future,” says Thomas Bechmann, partner in Pentaco Partners.
Verdane Capital sees great potential in Danish small- and middle-sized growth companies
Verdane Capital Advisors (the exclusive advisory firm to Verdane Capital funds), with offices in Oslo, Stockholm, and Helsingfors are primarily seeking investment opportunities in the Nordics.
“We follow Danish small and medium-sized growth companies within energy, advanced industry, technology, and e-commerce with great interest. This is where Verdane has special industry knowledge and where Denmark has a leading position. A prerequisite for any acquisition is that there must be significant growth potential in the core business, the company must have reached a certain size, and that we have a clear case as to how we can drive strategic initiatives and value together with management,” says Pål Malmros, partner in Verdane Capital Advisors.
According to Verdane Capital Advisors, Danish companies are interesting due to their strong entrepreneurial culture, commercial understanding, and international mindset supported by a stable home market: ”This gives our team a solid departure point in their work on helping the company rise from local success to become global players,” says Pål Malmros.
JSB Group
JSB Group is a global leading supplier of core material made from primarily foam and balsa, which is used as construction enhancement for wings in the wind turbine industry. The company has specialized in design and processing of kits that have been optimized for subsequent use in the wing production. Through the years, the company has expanded, and JSB Group now employs approximately 400 people in Denmark, China, and USA.
Jupiter Group
Jupiter Group is a leading supplier of nacelle and spinner covers for the windmill business. The company is anchored with a strong engineering base in Denmark and has specialized in working on the mobility of both its products and its production. The mission is to develop and deliver environmentally friendly compound solutions, so customers will be able to contribute to the global share of renewable energy. The company employs approximately 900 people in Denmark, Poland, China, and USA.
Polytech
Polytech has successfully developed and produced solutions for wind turbines with the purpose of either protecting the wings or improving their efficiency. The products that the company delivers to their wind customers range from systems for lightning protection to various components for the wind turbines’ wings such as blade add-ons that reduce the noise and increase performance. Polytech A/S is headquartered in Denmark with offices in the US and in China, employing approximately 300 people.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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