New majority shareholder in DESMI
DESMI, a Danish manufacturer of pumps, pumping systems, environmental cleaning equipment and related products and services, today announced it 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, and defense and fuel. The company also provides environmental solutions for oil spill response, seaweed collection and cleaning waterways. DESMI has global operations across 20 countries in Europe, Asia, the Middle East, North America, and Africa and employs nearly 1,000 people. DESMI’s pumps and systems are sold to more than 150 countries through a network of subsidiaries and distributors across six continents.
“We look forward to a strong partnership with CEO Henrik Sørensen and his management team,” said Johann-Melchior von Peter, Senior Managing Director at OEP. “We plan to utilize OEP’s deep industrial sector expertise to help DESMI accelerate its growth trajectory and further diversify its end-markets to strengthen the business.”
“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,” says Sørensen. “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.”
“We see significant potential to leverage DESMI’s global infrastructure and comprehensive value chain to consolidate a fragmented industry and enter new, attractive product segments,” said Marc Lindhorst, Principal at OEP.
The acquisition is expected to be completed in the second half of 2022 and is subject to regulatory approvals and customary closing conditions.