After 190 years, Danish manufacturer of pumps, pumping systems, and ballast water treatment systems, DESMI, has a USA-based majority shareholder
DESMI has signed a definitive agreement to sell a majority share to One Equity Partners (OEP), a middle market private equity firm. Terms of the transaction were not disclosed.
Founded in 1834 and headquartered in Nørresundby, Denmark, DESMI provides pumping solutions to end-markets including marine and offshore, industrial, utility, defence and fuel.
The company also provides environmental solutions for oil spill response, seaweed collection and cleaning waterways.
“We look forward to a strong partnership with chief executive Henrik Sørensen and his management team,” said OEP senior managing director Johann-Melchior von Peter. “We plan to utilise OEP’s deep industrial sector expertise to help DESMI accelerate its growth trajectory and further diversify its end-markets to strengthen the business.”
DESMI chief executive Henrik Sørensen said, “It was high on our agenda to find a new owner who wants to continue our growth strategy within flow technology and extend DESMI’s brand. OEP wants exactly that, and I am pleased to welcome them as a new majority shareholder of our great company.”
Mr Sørensen added, “After nearly 190 years of operations, we look forward to entering our next stage of growth with the support of our new partner. OEP is a firm that shares our vision for the evolution of DESMI and has a long-standing track record for building market-leading industrial companies.”
The acquisition is expected to be completed in H2 2022 and is subject to regulatory approvals and customary closing conditions.
DESMI has global operations across 20 countries in Europe, Asia, the Middle East, North America, and Africa and employs nearly 1,000 people. Its pumps and systems are sold to more than 150 countries through a network of subsidiaries and distributors across six continents.
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