New and more development oriented owner structure

EICO, one of Denmark’s leading distributors of white goods and market leader in range
hoods, gets a new ownership structure per July 1st 2021. Dansk Ejerkapital enters the ownership circle, capital funds and now former co-owner Vækst-Invest retire, while senior executives and other investor circles maintain ownership in the company.

- I am extremely pleased with the new ownership structure, for which I have high and ambitious expectations. We have been looking for a number of options for a long time, and it is gratifying that we now have a strong agreement in place. Dansk Ejerkapital is a highly professional and serious partner that invests in and develops small and medium-sized Danish companies, always in close collaboration with their owners and management. The new co-owner will undoubtedly add new competencies and opportunities in relation to realizing an even greater growth potential, but will not have a greater impact on everyday life and daily operations in EICO - neither in relation to the management team, employees, customers or suppliers, says Michael Jacobsen, CEO of EICO.

Dansk Ejerkapital enters with an ownership share of 40 percent in EICO, while the remaining 60 percent is divided between Michael Jacobsen, CEO of EICO, Niels Poulsen, CSO in EICO and chairman of the board Poul Sand, which makes Dansk Ejerkapital a minority investor in the company EICO, one of Denmark's leading distributors of white goods and market-leading in cooker hoods, gets a new ownership structure per July 1st 2021. Dansk Ejerkapital enters the circle of owners while private equity fund and the now former co-owner Vækst-Invest leaves.

- We have the utmost respect for our previous owner, “Vækst-Invest”, who has been on the ownership side since 2011 - a ten-year period in which EICO has grown almost 400 percent in revenue. Vækst-Invest has been a significant contributor with a view to providing EICO with a strong future-oriented foundation and has been an important and skilled partner, says Michael Jacobsen.

The new owner, Dansk Ejerkapital, is one of the country’s oldest and most experienced private equity funds. The fund specialises in minority investments in small and medium-sized Danish companies with significant growth potential, which are run by independent and skilled owner-managers.

- EICO is a healthy and solid company with great potential, which has gone from being a small entrepreneurial company to a professional B2B company with a three-digit million turnover in the Nordic markets. Among other things, EICO wants to position itself even stronger in the Nordic region, and it is an ambition that we have considerable experience of supporting. It is EICOs employees, the strong corporate culture and the good values that have brought the company to where it is today. We are very much looking forward to being a partner on the further development and growth journey, says Sune Diernæs, Investment Manager at Dansk Ejerkapital.