Procuritas sells Gram Equipment
Gram Equipment is a global market leader in advanced process equipment for the consumer ice cream industry’s largest producers.
The 116-year-old Danish company, Gram Equipment, in Kolding, has been sold by Procuritas Capital Investors IV (“PCI IV”) to FSN Capital. Over the last three years, Gram Equipment has achieved excellent growth rates of 15 percent annually, primarily through international expansion. FSN Capital and PCI IV have signed an agreement that sees FSN Capital acquiring the entire PCI IV majority shareholding in Gram Equipment.
PCI IV acquired Gram in 2010. Gram Equipment CEO, Lasse Viegand Hansen, is satisfied with the development during the PCI IV ownership, which has created a solid base for further growth:
“With Procuritas, we integrated the acquisition of WCB Ice Cream and turned Gram Equipment into a global leader in its field. We’ve enjoyed several years of solid growth together with Procuritas. Now we’re looking forward to the next phase and continued growth. “
Procuritas are content to hand over a growing company to the new owners:
“We’ve had seven good years with Gram Equipment and together with management have created a company with a strong strategic base, evidenced by the fact that revenue has almost quadrupled under our ownership. We’d like to thank all employees for a very rewarding collaboration. For Procuritas, Denmark is a priority market, and we look forward to making further investments in market-leading Danish companies,” says Tomas Théren, Managing Partner Procuritas.
Currently, Gram Equipment has more than 350 employees and is headquartered in Kolding. The company had revenues of 82 million EUR in 2016 and forecasts a turnover of 110 million EUR in 2017.