Private equity fund Axcel has agreed with EQT Opportunity, the founding family (Toftdahl Olesen), and the management to acquire Cimbria, a Thisted, Denmark-based manufacturer of equipment for handling and processing of grain and seed products.
The transaction, which is still subject to approvals from competition authorities, is expected to close in August 2011.
Led by CEO Karsten Larsen, Cimbria has obtained a strong market position in Western and Eastern Europe and is now positioned for future growth. The company operates local offices in Austria, Czeck Republic, Italy, Malaysia, UK, Thailand, India, Ukraine, and Russia.
Cimbria designs, develops, manufactures and installs custom-built solutions such as single machines, complete processing lines and large turnkey projects with advanced automation and management information systems for the different types of crop treatment – as well as the treatment of powders and granules.