Canadian private equity firm Lynx Equity has acquired Sundby Trapper A/S, a Danish manufacturer of specialized steel staircases and related products.
No financial terms were disclosed. The sellers were CEO Soren Iversen and Chief Mounting Officer Carsten Nielsen, who will continue in their current positions for the foreseeable future.
Founded in 1964, Sundby Trapper provides its products and services to residential, commercial and institutional customers in Denmark.
Two years ago, Lynx acquired PartnerService Hver Gang ApS, a Danish facility maintenance provider.
Lynx Equity Limited is pleased to announce the acquisition of Sundby Trapper A/S
May 21, 2019
TORONTO, CANADA / ERSLEV, DENMARK – Lynx Equity Limited is pleased to announce the acquisition of Sundby Trapper A/S, a manufacturer of specialized steel staircases and related products in Denmark, and throughout the Nordic Region. Founded in 1964 by John Iversen, the Company has continued to maintain its reputation for excellence, providing best-in-class products and service to residential, commercial and institutional clients alike. Sellers Soren Iversen and Carsten Nielsen credit Sundby Trapper’s dedicated staff, which boasts the highest levels of industry certifications, for allowing the Company to continually win bids for prestigious projects including The National Gallery of Denmark, The Royal Danish Opera House and Christiansborg Palace.
“Lynx loves old-economy, family-run businesses in industries that experience little disruption over time. Sundby Trapper couldn’t be a better fit for that model,” commented Lynx President, Brad Nathan. “We are thrilled to welcome Soren and Carsten, and the fantastic team at Sundby Trapper, to the Lynx Family. We look forward to continuing to grow the business, one step at a time.”
Along with their staff, both Soren Iversen and Carsten Nielsen will remain with Sundby Trapper in their current positions, Chief Executive Office and Chief Mounting Officer respectively, for the foreseeable future. This supports Lynx Equity’s strategy of minimizing disruption to the businesses it acquires.
“We are very happy that we chose to sell our business to Lynx. This has allowed Sundby Trapper to continue operations uninterrupted, including retaining our staff and the professionals that we work with,” commented Soren Iversen. “We look forward to starting to work with Lynx, and are excited about our future together as they handled this transaction in the most professional manner,” added Carsten Nielsen.
The transaction was facilitated by BDO Corporate Finance Denmark with sell-side legal and accounting services provided by Brinkmann Kronborg Henriksen and Info Revision respectively.
Lynx’s European portfolio currently includes Denmark’s PartnerService, and UK’s Signalhome, Label Express and Day2 Interiors. Lynx continues to pursue acquisition opportunities across North America and Europe.
About Sundby Trapper
Since 1964, Sundby Trapper has been one of Denmark’s premier manufacturers of specialized steel staircases and related products. Since then, the Company has maintained a strong market presence with the highest industry standards and a track record of several prestigious projects.
For further information on Sundby Trapper, please visit www.sundby-trapper.dk
About Lynx Equity Limited
With sales in excess of $450M CAD, Lynx Equity Limited is a Toronto-based diversified private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire. Lynx targets acquisitions of companies with EBITDA between $1 and $2.5M CAD and utilizes a buy and hold strategy.
For further information on Lynx Equity, please visit www.lynxequity.com
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