Lynx Equity acquires Arkas

The deal closed on 25 February 2020 and saw the previous owners Keld Sund Nielsen and Michael Dommerbye, who bought the company in 2015, exit it completely. They will, however, continue to be involved in the company, Nielsen as a board member and Dommerbye as CEO.

Lynx made the investment through its open-ended fund Lynx Equity Limited. Based in Canada, it also invests in Europe and has previously acquired a majority stake in Denmark's PartnerService and Sundby Trapper, as well as the UK's Signalhome, Label Express and Day2 Interiors.

Company
Founded in 1986, Arkas manufactures garage doors and single doors for commercial and residential clients. The company claims to be the only manufacturer of exclusively Danish-made wood and garage doors.

Arkas sells its products through 400 points of sale across Denmark, including the country's timber merchants. The company employs 15 people and has an EBITDA in the range of C$1-2.5m.

People
Lynx Equity – Ashley Manis (vice-president, M&A Scandinavia).
Arkas – Keld Sund Nielsen, Michael Dommerbye (CEO).

Advisers
Equity – Nordic M&A (financial due diligence); Inforevision (financial due diligence); Brinkmann Kronborg Henriksen (legal).
Vendor – Andersen Partners (legal).

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• Topics
• Buyouts
• Nordics
• Industrials
• Denmark