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Nork Novenco sold to Dania Capital
York International, who were recently acquired by Johnson Controls in a $3.2 billion transaction, appointed members of M&A International, Inc. to sell its Danish based business, York Novenco, which had turnover in excess of $100m.
Cavendish Corporate Finance of the UK and Audon Partners of Denmark were selected to lead the sales process, given the combined local expertise, sector knowledge and global reach of the M&A International, Inc. alliance.
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York Novenco develops and manufactures high-quality ventilation products and systems and fire fighting equipment to customers worldwide. Their core business involves supplying ventilation and fire fighting systems to hostile or performance critical environments such as oil and gas platforms, navy vessels and cargo and commercial ships. It also specializes in the area of car parks and tunnels.
As part of the process, Cavendish and Audon Partners co-managed the global marketing exercise to identify, research and contact acquisition candidates. A high number of final expressions of interest came from trade buyers in mainland Europe and North America, and financial buyers from Northern Europe. In the end, Dania Capital, a Danish private equity house investing in companies primarily within the local building and construction industry, offered the best terms and satisfied management’s objective to develop York Novenco as an independent Company.
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