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Danstoker A/S sold to Thermax Ltd.
Audon Partners was engaged as strategic and financial advisor to the owners of Danstoker A/S in the sale of the company to the listed Indian energy group Thermax Ltd..
The Danstoker Goup consists of Danstoker A/S in Herning and its German subsidiary Omnical Kessel- und Apparatebau GmbH in Dietzhölztal. Over the last ten years Danstoker has developed from a regional manufacturer of industrial boilers into one of Europe’s leading manufacturers with sales representations in England, Sweden and Chile. The Group has 220 employees.
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Danstoker to play key role in Thermax's plans for growth in the European energy market.
With more than 4,500 employees and a turnover of 800 million USD, Thermax Ltd. has specialised in the manufacture of sustainable solutions within the international energy and environment sectors. The company has 19 international offices working on markets in 75 countries. Thermax produces its energy-efficient solutions and components at three plants in India and one in China.
Danstoker’s shareholders consisting of a group of private investors and the Danish investment company Generationsskifte & Vækst A/S are behind the sale to Thermax.
Danstokers’ Chairman of the Board, Mr Peter Tærø Nielsen says:
"We have brought Danstoker up to a level where the company ranges among the marketleaders in Europe. In order to ensure the further development of Danstoker we have deemed it appropriate to sell to Thermax. Thermax as a group may benefit from the technologies mastered by Danstoker and can open doors to many new markets for Danstoker products”.
"We want Danstoker and Omnical to be the platform for our expansion in Europe. This means that through Danstoker we will be able to introduce our products in Europe while at the same time attempting to launch Danstoker's products on a number of new geographical markets. Danstoker's advanced technologies enhance and supplement our solutions within the field of sustainable technology”, continues Mr Unnikrishnan.
"Our vision is expansion in Europe, and the transaction takes place on a visionary and future-oriented basis. The acquisition will have no impact on the relations with Danstoker's customers, suppliers and employees”, emphasizes Mr Unnikrishnan.
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