Canadian private equity firm Lynx Equity has acquired Yding Gruppen, a Danish provider of professional cleaning and sanitization services. No financial terms were disclosed. The deal increases Lynx’s European portfolio companies to seven.
March 31, 2021 TORONTO, Canada / AARHUS, Denmark – Lynx Equity Limited is pleased to announce the acquisition of Yding Gruppen A/S (“Yding Gruppen”), a commercial cleaning company offering a wide range of cleaning and sanitization services to office, retail and residential customers across Jutland, Denmark. With origins as a small business specializing in window cleaning, Yding Gruppen has grown steadily over time, now proudly offering a full range of disinfection and cleaning services to a variety of top Danish businesses. These services are delivered by over 100 qualified employees, many of whom have been with the Company for over 10 years. Yding Gruppen credits 40 successful years in business to the high level of quality it delivers and the strong relationships it maintains with its clients.
A key factor motivating the pursuit of this acquisition is the significant opportunities it presents for immediate and long-term cooperation with PartnerService ApS, another Danish company acquired by Lynx in 2017 that provides a range of cleaning and facility-maintenance services. Lynx is confident that creating such a partnership will allow both companies to benefit from strengthened and more efficient operations, while maintaining their individual identities.
“Kurt has built a fantastic business that we were immediately excited to partner with,” commented Ashley Manis, Vice President of M&A Scandinavia at Lynx. “The more time we and our colleagues at PartnerService spend with The Yding team, the better we understand why Yding Gruppen has such a fantastic reputation in the industry. We look forward to getting our hands dirty together for many years to come.”
Kurt Skydt, the seller, along with his team, will remain involved to ensure a smooth transition to new ownership.
“My employees and I look forward to working with Lynx and continuing Yding Gruppen’s good values and reputation,” says Kurt Skydt. Lone Ranum, CEO at PartnerService adds “We at PartnerService look forward to welcoming Yding Gruppen to the family. We complement each other excellently and there are obvious synergies that will benefit both companies. We are very much looking forward to the cooperation.”
The transaction was facilitated by EY, with buy-side legal and accounting services provided by Brinkmann Kronborg Henriksen and Inforevision respectively, and sell-side legal services by Interlex Advokaten.
Lynx’s European portfolio currently includes the UK’s Signalhome, Label Express and Day 2 Commercial Interiors, as well as Denmark’s PartnerService, Sundby Trapper and Arkas. Lynx continues to pursue acquisition opportunities from owners looking to retire across North America and Europe.
About Yding Gruppen
Founded in 1981, Yding Gruppen serves a number of companies, associations, and individuals across Denmark as a provider of professional cleaning and sanitization services (including, but not limited to, shop cleaning, office cleaning, production cleaning, craftsman cleaning and total service). Regardless of the scope of any given task, Yding Gruppen is dedicated to delivering superior services that consistently satisfy their customers.
For further information on Yding Gruppen, please visit www.yding.dk/
About Lynx Equity Limited
With sales in excess of $500M 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 $750k – $2.5M and utilizes a buy and hold strategy.
For further information on Lynx Equity, please visit www.lynxequity.com