Erhvervsinvest buys Denmark-based Bogballe

The firm was acquired for DKK 500m, according to Danish newspaper Børsen. This transaction marks the first investment of the GP's Erhvervsinvest IV fund, which held a close on €196m in February 2017.

The GP is a majority shareholder with a stake in excess of 90%, managing partner Thomas Marstrand told unquote".

Bogballe's Nils Jørgen Laursen, the grandson of the founder, continues as director of the company and with an increased ownership stake, making him the second-largest shareholder after Erhvervsinvest.

Over the next five years, the GP's strategy is to increase sales by 10% annually. The production methods of Bogballe are deemed to be efficient so the focus is to expand sales globally, according to Marstrand. As 95% of the firm's revenue stream is from outside Denmark, this is a natural step in the takeover strategy. While no specific plan has been established yet, Sweden and Germany are likely markets. 

The Erhvervsinvest IV fund invests in small to medium-sized Danish companies, typically with a turnover in the €7–70m range. The GP plans to invest in a total of 12-14 companies within five years and it expects to make another acquisition by the end of 2017.

Company
Established in 1934, Bogballe is a family-founded business that develops, produces and distributes fertiliser spreaders. The firm is based in Bogballe, Denmark. It employs 60 staff and reported an aggregated turnover of DKK 175m over the past five years.

People
Erhvervsinvest – Thomas Marstrand (managing partner).
Bogballe – Nils Jørgen Laursen (director).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Nordics
• Industrials
• Denmark
• Erhvervsinvest