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Transaction - The service activities of Promecon A/S sold to L&H-Rørbyg A/S |
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The service activities of the steel- and piping company, Promecon A/S, have been sold to the competitor, L&H-Rørbyg A/S.
Promecon is part of Denmark’s leading construction and civil engineering group, MT Højgaard. The company’s service entity has 133 employees and constitutes the largest activity of Promecon.
L&H-Rørbyg is a major Danish business within HVAC and plumbing installations, sprinkler systems, district heating and industrial piping. The company is part of the Kemp & Lauritzen group, one of the country’s biggest and most experienced industrial contractors.
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With this transaction the competencies from two of Denmark's leading companies within the steel and piping industry are brought together.
Michael Haslund, sales manager at L&H Rørbyg, comments on the acquisition: “Although we can offer some of the services that Promecon does, this investment means that we can offer a wider range of services on a much greater scale to our clients. We have worked together with Promecon on projects in the past and were aware of its capabilities, so we took advantage of the opportunity to take over the service entity of the business from MT Højgaard”.
MT Højgaard’s President and CEO, Kristian May adds: Promecon’s activities no longer fit MT Højgaard’s focus, and consequently we have chosen not to be part of them anymore. With L&H-Rørbyg the service activities get a well-established new owner with this area as their central point. At the same time the market for traditional steel projects has been declining the past few years, so we are discontinuing our few remaining activities in this area. We are very pleased with this solution”.
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