The CEO of Dan Egtved A/S is delighted to be able to continue leading the company after a successful generational succession to the Canadian investment company Lynx Equity Limited. Dan Egtved manufactures and sells high-quality stable equipment, primarily for cattle and horse stables, and has been doing so for 100 years.

"My father would have nodded and said that it's the right thing to do when selling the company to an owner outside the family," says Sten Andersen.

An owner who wants to take Dan Egtved forward in Egtved

Sten Andersen has owned and managed Dan Egtved for almost 30 years as the third generation in the family. Therefore, it was important for him to find a buyer who would maintain production in Egtved and ensure continuity for employees and customers. He explained this to Klaus Termansen and Ole Jensen from Business Broker, who advised and managed the structured sales process.

After a series of meetings with various interested buyers, it became clear that Lynx Equity was the best match for Sten Andersen.

"Lynx Equity likes the Danish business ethos and has a buy and hold strategy. This means that the focus is on the acquired company continuing as it is. They take a long-term view and aim to create long-term value in the company through organic growth and business development," explains Ole Jensen.

This is also the case, for example, with Majland Stauder, which Lynx Equity acquired last winter – also with Business Broker advisor to the sellers.

Salesman continues as director in Dan Egtved

The transaction with Dan Egtved was completed before Easter 2024, and Sten Andersen will continue as CEO for the coming years to ensure the company's future operations.

"It's a relief that we've completed the generational change. I now feel a great responsibility to hand over the company and the employees to new owners and management. The last few months I've been a little mentally off my game, but now I can feel that I'm coming in with the same energy and motivation as before and can look forward again. This is the right thing for the company's employees, for my wife and for me," says the CEO.

Great confidence in Business Broker

Sten Andersen has been confident in Business Brokers of the sales process.

"Trust is paramount. It's not my home turf to sell a business, but the two advisors know their stuff professionally. They've also been good at listening to me and pulling me on constructively when I was emotionally affected," says Sten Andersen.

This was particularly evident when there were challenges. For example, Ole Jensen and Klaus Termansen prepared a memo together with the seller about the Danish agricultural economy to give the buyer confidence in the industry, economic fluctuations and macroeconomic conditions.

"The process contained complex elements where we had to think "out of the box". Ole and Klaus had a good internal understanding of how to handle it. They were very honest and good at explaining the Canadians' starting point to me, which was very beneficial for the execution of the process," says Sten Andersen.

The CEO already has a good impression of the collaboration with the new owners, who in his words show 'great respect for the company'.

Lynx Equity Limited has acquired all assets in Dan Egtved including two properties. Following the acquisition of Dan Egtved, the investment company now owns 7 companies in Denmark.

DAN EGTVED A/S

Lynx Equity Limited
acquired Dan Egtved A/S

Task: generational succession manufacturing company with a view to continuing operations in Egtved.

Solution: 100% sale of all shares to the Canadian investment company Lynx Equity, which now owns 7 companies in Denmark.

Result: With the sale, Dan Egtved can maintain continuity with customers, staff and other business partners. Sten Andersen continues as the company's CEO.

Dan Egtved A/S is one of the leading manufacturers of quality livestock housing equipment in Denmark and Sweden.

Business Broker the seller.

Sten Andersen highlights three things:

• I have felt safe all the way and have great confidence in the advisors.
• Klaus and Ole have been good at listening to me and ensuring a solution that suits my wishes.
• Business Broker done a great job that makes sense. They know their stuff.