Procuritas announced that it has sold the Dantherm Group to Deutsche Beteiligungs AG (DBAG). Consummation of the agreement is subject to approval by the competent antitrust authorities.
Headquartered in Denmark, the Dantherm Group has more than 60 years’ experience in designing and manufacturing heating, cooling, drying, ventilation and air cleaning products and solutions for a wide range of portable and installed applications and industries. The group has subsidiaries in 10 European countries.
Bjarke Brons, CEO at Dantherm Group commented: “Together with the strong support from Procuritas, we have in the past six years transformed Dantherm to become a market leading provider of climate control products and solutions. In DBAG, we have gained a new and strong partner with whom we can fully implement our growth strategy. We see significant market opportunities within our business and are excited to continue the development of Dantherm in the future drawing on DBAG’s extensive industry knowledge and experience in implementing buy-and-build strategies”.
Hans Wikse, Partner at Procuritas, commented: “We are delighted to have sold Dantherm to DBAG, 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.”
Jannick Hunecke, DBAG Management Board member commented: “We want to support Dantherm in pursuing its organic growth and buy-and-build strategy. The market in Europe remains very fragmented, presenting us with the opportunity to expand our product portfolio and regional market coverage through acquisitions. DBAG sees further potential for value enhancement over the period of DBAG Fund VIII’s investment, through greater integration between the companies recently acquired by Dantherm”.
