HASLE Refractories sold to Capidea

Transaction

Sell-side

Undisclosed

Role

Adviser to HASLE Refractories on its sale to Capidea

Sector

Industrial & Chemicals

Region

Denmark

We have advised HASLE Refractories, a Danish industrial company, on its sale to Capidea, a Danish private equity fund.

Founded in Bornholm, Denmark, HASLE Refractories develops and manufactures advanced refractory solutions for high-temperature processes in the cement, steel, and waste-to-energy industries, among others. The company has built a strong international reputation for technical expertise, high-quality materials, and long-lasting products. Its portfolio includes casting compounds, prefabricated elements, and its proprietary Ceramic Vortex Finder (CVF), which improves the energy efficiency and durability of thermal plants.

Capidea is a Danish private equity fund that makes long-term investments in competitive small and medium-sized Danish companies. Established in 2006, it invests in businesses within trade, distribution, service, IT, and production. Since its inception, Capidea has acquired 34 companies. HASLE Refractories is the tenth investment in its latest fund, Capidea Kapital IV K/S.

Through this new partnership with Capidea, HASLE Refractories is well equipped to continue its international growth journey.

On the other side of the sale, we are left with a really good feeling and a healthy dose of pride. Our company continues to thrive on Bornholm with our highly valued employees, while at the same time, with a robust Danish capital fund such as Capidea behind us, we can equip ourselves even better for the future. Selling your company is an intense process, especially when you have not done it before, but we felt comfortably guided through it by our team at Clearwater, who understood our company really well and, not least, managed to get it “down on paper” with both the figures and all the other values it embodies. We are very much looking forward to the next chapter, now together with Capidea.
Karen Bladt, Director, HASLE Refractories

We're delighted to have helped Karen and Michael's impressive life's work continue its journey with a strong partner like Capidea. Over the past 23 years, HASLE Refractories has impressively re-established itself as a prominent company on Bornholm's business map, which is why it is essential that the company remains intact, with both its management and employees, and not least its local roots. We are very much looking forward to following from the sidelines and seeing how the stones that built the company will now form the foundation for the future of HASLE Refractories.
Carsten Appel, Director, Clearwater