Clearwater advises Tic-Elkas on its sale to Dansk Ejerkapital

Transaction

Tic-elkas sold to Dansk Ejerkapital

Sell-side

Undisclosed

Role

Adviser to Tic-Elkas on its sale to Dansk Ejerkapital

Sector

Industrial & Chemicals

Region

Denmark

Clearwater has advised the Danish industrial automation provider, Tic-Elkas, on its sale to the Danish private equity company, Dansk Ejerkapital.

Tic-Elkas specialises in providing technical engineering, industrial automation, electrical panels, and electricity distribution to a range of industries. More than 160 specialists across Denmark and Lithuania provide services to a broad range of local and international clients, such as Novo Nordisk, Rockwool, and Siemens. The company is a result of a 2019 collaboration between Technodan Industrials Controls and JE-Elkas, operating as a well-integrated unit from facilities in both eastern and western Denmark.

Dansk Ejerkapital is a private equity fund which invests in small and medium-sized Danish companies, with high potential for growth and strong management teams, that strive to be market leaders within their markets.

Within recent years Tic-Elkas has achieved substantial growth that is expected to continue, backed by Dansk Ejerkapital. Besides Dansk Ejerkapital, Tic-Elkas’ future ownership will consist of the current CEO Frank Münzberg, CSO Flemming Egebjerg and Chairman of the Board, Morten Østergaard.

Ever since I got to know Clearwater many years ago, I have known that if I was ever to sell a company myself, it would be through them. We have had an ongoing dialogue with the team about a possible sale and they have managed the essential ‘housekeeping’ that has to be in place, before entering a concrete sales process. We have been through a thorough, structured, neat process in very good company, and have been asked the right and hard questions that are necessary to answer, to reach the end goal. It has been a great plus that the team has such great knowledge within our area and the sector. The sale to Dansk Ejerkapital is a dream scenario for us – they operate in the long field and understand the sector. We are also very pleased to have our Chairman of the Board with us in the ownership, and continue our strategic work with the same capable employees as before.
Frank Müntzberg, CEO and co-owner, Tic-Elkas

This transaction is Clearwater’s third completed assignment within industrial automation services and power panel manufacturing in six months. It underlines the healthy industry trends and attractive exit environment that applies to businesses that contribute to automation and energy optimisation of various industries. It has been a true pleasure advising the current shareholders of Tic-Elkas in finding a new, strong home for their company.
Stig Windeløv, Director, Clearwater