Verdane Capital has taken a majority stake in maritime hardware and software company Danelec Marine.
The firm drew equity from its Verdane Capital X fund, which closed on SEK 6bn in January 2019.
Carnegie was mandated by the company to explore a sale process in December 2019. At the time, Danelec Marine was expected to reach an enterprise value of DKK 300m (€40m). The company reported a 2019 EBITDA of €3.64m, according to Unquote Data.
Danelec's existing shareholders will continue to own shares in the company, while the management team, including CEO Hans Ottosen and chief operating officer Casper Jensen, will continue in their positions.
Headquartered in Birkeroed, Denmark, Danelec is a supplier of voyage data recorders (VDR), ship-to-shore data communication systems and electronic chart display and information systems (ECDIS).
The company operates offices in Denmark, China and Singapore, and has a network of distribution and service partners in 50 countries. Founded in 1981, the company reported a turnover of DKK 91m in 2018.
Verdane Capital – Arne Handeland (partner); Martin Welna (principal).
Danelec Marine – Hans Ottosen (CEO).
Company – Carnegie Investment Bank (corporate finance).
Fifth Secondaries Market Report also reveals that 97% of secondaries investors are participating in GP-leds
French sponsor beats Ardian and Antin in race for a majority stake in French veterinary chain
Fund is headed by Kirsten Connell and Maria Rotilu and has extended its hard cap to GBP 15m following a first close
BGF exits energy markets consultancy following minority stake investment in 2017