FSN Capital V (“FSN Capital”) has signed an agreement to acquire a majority stake in Gram Equipment, a global market leader in advanced process equipment for the consumer ice cream industry's largest producers. New ownership will lead Gram Equipment to further global growth.
FSN Capital has signed an agreement to acquire the 116-year-old Danish company, Gram Equipment.
Over the last three years, Gram Equipment has achieved excellent growth rates of 15 percent annually, primarily through international expansion. In the same period, the company has more than tripled its earnings.
“Gram Equipment is a market leader in the production of advanced process equipment for leading international ice cream producers. The company has shown impressive growth. It now embarks on new growth ventures, not least in emerging markets and new customer segments. We look forward to supporting Gram’s continued growth,” says Thomas Broe-Andersen, partner in FSN Capital Partners, the investment advisor to FSN Capital.
FSN Capital also sees opportunities for further growth through strategic acquisitions.
In 2014, Gram Equipment merged with WCB Ice Cream, through which management succeeded in realising major synergies. Gram Equipment CEO, Lasse Viegand Hansen, looks forward to continued growth under the new owners: “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. Now we’re looking forward to the next phase and continued growth. FSN Capital will secure the financial and management resources we need to continue to expand with our customers around the world.”
Currently, Gram Equipment has more than 350 employees and is headquartered in Kolding. The company had revenues of 650 million DKK in 2016 and forecasts a turnover of 800 million DKK in 2017.
FSN Capital was advised by Alantra, Gorrissen Federspiel, White & Case, Bain & Company, PwC, Valcon, Implement, Ramboll, and JLT. Financing is provided by Danske Bank.