DENMARK - Dania Capital acquires YORK Novenco

The Novenco group develops and manufactures high-quality ventilation products and systems and fire fighting equipment that are sold to customers worldwide. In 2005 Novenco had turnover of DKK 660m.

YORK Denmark is part of the global YORK Group, which was acquired by Johnson Controls in December 2005. As new owner Dania Capital wishes to further develop Novenco in close cooperation with the current management. The management wishes to intensify focus on the organic growth and development of the product range within all segments.

Additionally, it is intended to make acquisitions to improve Novenco’s market position in present and new markets. 'It is an exciting task for Dania Capital to take the position as new owner of Novenco. We see great potential in the company’s high-quality products and transfer of its technology between different industries,' says Thomas Dywremose, managing director of Dania Capital.

'The background for our decision is that YORK Novenco’s strategic development potential and product range no longer converge with the future strategy of the overall YORK organization,' says Henrik Hansen, managing director of YORK Denmark.

The final closing of the transaction is expected to be later this month, upon approval by relevant authorities. It has been agreed that the company name is changed from YORK Novenco to Novenco at that time. There will be no changes in the company’s management or in Novenco’s strategy.

In connection with the agreement YORK’s advisers were Audon Partners and Cavendish Corporate Finance. Deloitte Corporate Finance was Dania Capital’s adviser.

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• Buyouts
• Nordics