Odin acquires Bach Composite Industry

The deal saw Odin take a majority stake in the company, while former owner Geert Winther will hold the balance. Winther will retain his current position as CEO following the buyout.

With the new capital, Bach will more aggressively pursue its strategy of increasing its presence as a supplier in the wind turbine market.

The buyout is the eighth deal made by Odin through the GP's Fund II, a €220m vehicle raised in 2008.

Odin Equity is expected to begin fundraising for its third fund this year. The GP told unquote" it expects to have closed its next vehicle in 2016 at the latest, although it is currently in the preparation phase.

Company
Founded in 1985 as Bach's Shipyard, Bach Composite Industry began life as a producer of fibreglass hulls for boat-builders.

The company has since re-focused to produce composite materials, mainly aimed at the wind turbine manufacturing industry.

Headquartered in Hurup, Denmark, Bach employs 500 people across six locations on three continents. It posted gross profits of nearly DKK 16m in 2013, according to publicly available information.

People
Odin partner Jesper Wadum Nielsen worked on the deal for the GP, alongside Bach CEO and shareholder Geert Winther.

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

• Topics
• Nordics
• Industrials
• Buyout
• Denmark