Altor acquires Multi Wing Group

Sister publication Debtwire reported previously that the company was being marketed based on EBITDA of around DKK 120m (€16m), and that Pöyry Capital was advising the vendor on the sale process, which launched earlier this year. 

Altor will deploy equity from Altor Fund V, which held a first and final close on its €2.5bn hard-cap in February 2019. According to Unquote Data, the fund has now made seven platform investments, including in Stockholm-based fashion company Totême, home carbonation appliance maker Aarke, and renewable power generation equipment maker OX2.

Company
Founded in 1938 and headquartered in Vedbæk, Multi-Wing is a manufacturer of axial fans for heating, ventilation, air conditioning, refrigeration and engine-cooling applications. The company has 13 production centres, three development centres, and several sales sites across North America, Europe and Asia Pacific.

Multi-Wing employs 380 employees and distributes its products to 5,500 customers in 80 countries. In 2019, the company recorded revenues of DKK 500m and EBITDA of DKK 80.5m. 

People
Multi-Wing Group – John Korsø Jensen (chairman).
Altor – Thomas Kvorning (partner). 

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• Topics
• Buyouts
• Nordics
• Industrials
• Altor
• Denmark
• Mid-market buyout