Industri Udvikling
Copenhagen, DenmarkDanish minority/owner-capital investor (rebranded from Industri Udvikling to Dansk Ejerkapital) backing owner-managed small/medium Danish B2B manufacturing and industrial companies since 1994, via generational-change, delkapitalisering, MBO/MBI, buyout and growth-capital deals across six fund vintages (Funds I-VI).
AUM
–
Funds
4
vintages 1994–2019
Portfolio
33
Exits
139
Industri Udvikling is a Copenhagen buyout firm with 33 active companies and 139 exits.
Key takeaways
- ·18 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 139 realized deals: 6 years.
- ·Top sector focus: Industrials (56% of portfolio).
Sector breakdown
172 companiesIndustrials
96 · 56%
Consumer
26 · 15%
Construction
10 · 6%
FoodTech
8 · 5%
Business Services
8 · 5%
TMT
5 · 3%
Energy
4 · 2%
Healthcare
3 · 2%
Geography breakdown
2 geographiesDenmark
171 · 99%
Sweden
1 · 1%
Key facts
Recent exits
Industri Udvikling sold HMK Bilcon A/S to Nordic Resilience Equity in 2026 after 3 years.
Industri Udvikling sold Ostergaard Entreprise A/S to Munck Gruppen in 2026 after 2 years.
Industri Udvikling sold Spectre Holding A/S to Schouw & Co. in 2026 after 5 years.
Industri Udvikling sold Sports Group Denmark A/S to Heartland in 2025 after 10 years.
Coverage notes
4 funds tracked, 172 portfolio companies (33 active · 139 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Industri Udvikling has raised, with its portfolio companies. Hand-checked from public filings.
4 funds
Fund
Strategy
Vintage
Size
Assets
Exits
Industri Udvikling VHarvestingBuyout201920 assets7 exitsBuyout2019 · 7yr–207
Unrealized
20 held| Company | Entry |
|---|---|
| Brandfix A/S Construction · Denmark | 2021 |
| CN3 A/S Industrials · Denmark | 2023 |
| Creativ Company Consumer · Denmark | 2024 |
| Eico A/S Consumer · Denmark | 2021 |
| Food and Event Lab ApS FoodTech · Denmark | 2022 |
| GreyBird Aviation Group ApS Aerospace & Defence · Denmark | 2024 |
| Hans Aa A/S Energy · Denmark | 2023 |
| HBC Group ApS Industrials · Denmark | 2025 |
| Helsam Consumer · Denmark | 2023 |
| Helsam Gruppen A/S Consumer · Denmark | 2023 |
| JP Air Tech ApS Industrials · Denmark | 2025 |
| Logitrans A/S Industrials · Denmark | 2023 |
| Onyx Cookware ApS Consumer · Denmark | 2022 |
| RG Rom Gummi A/S Industrials · Denmark | 2021 |
| Standout A/S Business Services · Denmark | 2023 |
| Stotek A/S Industrials · Denmark | 2020 |
| TestaViva DK ApS LegalTech · Denmark | 2025 |
| Viegand Maagoe A/S Business Services · Denmark | 2022 |
| Wila A/S Industrials · Denmark | 2019 |
| Zolo International Trading ApS Consumer · Denmark | 2023 |
Realized
7 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| HMK Bilcon A/S Industrials · Denmark | 2023 | 2026 | Secondary | Nordic Resilience Equity | – |
| Ostergaard Entreprise A/S Construction · Denmark | 2024 | 2026 | Trade Sale | Munck Gruppen | – |
| Salfarm Pharma · Denmark | 2020 | 2024 | Secondary | Polaris Private Equity | – |
| Salpharm Holding ApS Pharma · Denmark | 2020 | 2024 | Trade Sale | Polaris Private Equity | – |
| Spectre Holding A/S Consumer · Denmark | 2021 | 2026 | Trade Sale | Schouw & Co. | – |
| Tic elkas A/S Industrials · Denmark | 2022 | 2023 | Secondary | Axcel | – |
| VETgruppen A/S Healthcare · Denmark | 2019 | 2021 | Secondary | Axcel | – |
Industri Udvikling IVHarvestingBuyout201313 assets19 exitsBuyout2013 · 13yr–1319
Unrealized
13 held| Company | Entry |
|---|---|
| Aabo-Ideal A/S Industrials · Denmark | 2018 |
| Dania Plast A/S Industrials · Denmark | 2018 |
| Effection A/S Industrials · Denmark | 2016 |
| GM - Finish First Industrials · Denmark | 2017 |
| GM/GM Functionals FoodTech · Denmark | 2017 |
| ICEpower A/S Industrials · Denmark | 2016 |
| John Bjerrum Nielsen A/S Industrials · Denmark | 2014 |
| Kvist Industries A/S Industrials · Denmark | 2013 |
| Laurie Industrials · Denmark | 2015 |
| RK Plast (RK Group A/S) Industrials · Denmark | 2018 |
| Sam Partner Industrials · Denmark | 2018 |
| System Transport A/S Logistics · Denmark | 2017 |
| Tenax Sild A/S FoodTech · Denmark | 2015 |
Realized
19 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Borch Textile Group A/S Consumer · Denmark | 2013 | 2019 | MBO | Ulrich Mosegaard | – |
| Carsoe A/S Industrials · Denmark | 2017 | 2018 | Secondary | Solix Group | – |
| Christian Berg A/S Consumer · Denmark | 2013 | 2015 | Trade Sale | Coromatic Group AB | – |
| Coze Aarhus A/S Consumer · Denmark | 2015 | 2023 | Trade Sale | Seria ApS / Lena Trend | – |
| East Metal Holding A/S Industrials · Denmark | 2015 | 2024 | Trade Sale | – | – |
| East.dk ApS Industrials · Denmark | 2015 | 2016 | – | – | – |
| Falck-Schmidt A/S Aerospace & Defence · Denmark | 2016 | 2017 | Trade Sale | – | – |
| FSG Foods ApS FoodTech · Denmark | 2014 | 2018 | Trade Sale | Kvalitetsfisk AB | – |
| Global Wind Power Europe A/S Energy · Denmark | 2013 | 2015 | Trade Sale | – | – |
| ICEpower TMT · Denmark | 2016 | 2023 | Secondary | Crestline | – |
| KD Group A/S Industrials · Denmark | 2014 | 2020 | Trade Sale | OC Danmark Holding A/S | – |
| Maki A/S Industrials · Denmark | 2017 | 2021 | Secondary | Capidea | – |
| Nordic Sense A/S Consumer · Denmark | 2016 | 2018 | Trade Sale | – | – |
| Optimate Industrials · Denmark | 2018 | 2021 | Trade Sale | 9altitudes | – |
| Optimate A/S Industrials · Denmark | 2018 | 2021 | Trade Sale | 9altitudes | – |
| Sam Group Holding A/S Industrials · Denmark | 2018 | 2020 | Trade Sale | Komet Invest A/S | – |
| SGM Holding A/S Industrials · Denmark | 2013 | 2015 | Trade Sale | – | – |
| Sjørring Maskinfabrik A/S Industrials · Denmark | 2014 | 2022 | Trade Sale | Terratech Group AB | – |
| Sports Group Denmark A/S Consumer · Denmark | 2015 | 2025 | Trade Sale | Heartland | – |
Industri Udvikling IIIRealizedBuyout20070 assets34 exitsBuyout2007 · 19yr–034
Realized
34 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Abio A/S Industrials · Denmark | 2010 | 2013 | Trade Sale | DOLLE A/S | – |
| ABL Food A/S FoodTech · Denmark | 2008 | 2017 | Trade Sale | H.L. SØGAARD HOLDING ApS | – |
| Bila A/S Industrials · Denmark | 2007 | 2011 | Trade Sale | Jan Bisgaard Sørensen / B-Invest 2007 A/S | – |
| Brdr. A. & B. Andersen A/S Industrials · Denmark | 2010 | 2011 | – | – | – |
| C&H System A/S Industrials · Denmark | 2012 | 2023 | Trade Sale | Qubiqa A/S | – |
| Confac A/S Industrials · Denmark | 2010 | 2014 | MBO | Company management | – |
| Dan-Web Associated A/S Industrials · Denmark | 2007 | 2010 | Trade Sale | – | – |
| DDD-Diagnostic A/S MedTech · Denmark | 2011 | 2013 | Trade Sale | Bozlu Holding | – |
| Delika Food Group A/S Consumer · Denmark | 2008 | 2011 | Trade Sale | – | – |
| Euro Therm Invest A/S Industrials · Denmark | 2010 | 2020 | Trade Sale | Justsen Energiteknik A/S | – |
| Glenco A/S Industrials · Denmark | 2007 | 2011 | Trade Sale | Kemp & Lauritzen A/S | – |
| Hjem Holding A/S Consumer · Denmark | 2009 | 2011 | Trade Sale | – | – |
| Holmris B8 Consumer · Denmark | 2007 | 2017 | Secondary | BWB Partners | – |
| HT Bendix A/S Industrials · Denmark | 2012 | 2019 | Trade Sale | Bufab Group | – |
| Intego A/S Industrials · Denmark | 2007 | 2010 | Trade Sale | Kemp & Lauritzen A/S | – |
| Interieur Holding A/S Consumer · Denmark | 2007 | 2010 | Trade Sale | – | – |
| Jyden Bur A/S Industrials · Denmark | 2008 | 2019 | Trade Sale | SKIOLD A/S | – |
| Jydsk Planteservice Business Services · Denmark | 2007 | 2014 | Trade Sale | – | – |
| Jydsk Planteservice A/S Business Services · Denmark | 2007 | 2014 | Trade Sale | – | – |
| KVM Industrimaskiner A/S Industrials · Denmark | 2011 | 2018 | Secondary | Zefyr Invest | – |
| Lindø Steel Industrials · Denmark | 2012 | 2017 | Trade Sale | – | – |
| Lindo Steel A/S Industrials · Denmark | 2012 | 2017 | – | – | – |
| Minkpapir A/S Industrials · Denmark | 2007 | 2019 | Secondary | Kilsmark A/S | – |
| Nordisk Company A/S Consumer · Denmark | 2012 | 2020 | MBO | Management and external investor | – |
| Omni Technical Solutions A/S Industrials · Denmark | 2007 | 2023 | Trade Sale | – | – |
| Printca A/S Industrials · Denmark | 2010 | 2012 | Trade Sale | Graphic plc | – |
| Resolux A/S Industrials · Denmark | 2010 | 2016 | MBO | Ole Teglgaard, Niels Erik Kjølby and Chris Van Herrenhege | – |
| Rewss A/S Industrials · Denmark | 2008 | 2012 | Trade Sale | – | – |
| Ribe Jernindustri Industrials · Denmark | 2011 | 2018 | Trade Sale | Rettig ICC | – |
| Ribe Jernindustri A/S Industrials · Denmark | 2011 | 2015 | Trade Sale | Co-shareholders and new investors | – |
| Scanflavour Holding A/S FoodTech · Denmark | 2012 | 2018 | Trade Sale | Essentia Protein Solutions | – |
| Theca A/S Industrials · Denmark | 2012 | 2022 | Trade Sale | Actona Group A/S | – |
| Total Wind Group A/S Energy · Denmark | 2010 | 2018 | Trade Sale | Global Wind Service A/S | – |
| Uno Danmark Holding A/S Industrials · Denmark | 2011 | 2016 | Trade Sale | – | – |
Industri Udvikling (early)RealizedBuyout19940 assets79 exitsBuyout1994 · 32yr–079
Realized
79 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Agramkow A/S Industrials · Denmark | 1999 | 2011 | Trade Sale | Dover Corporation | – |
| Akerbergs Maskiner A/S Industrials · Sweden | 1995 | 1998 | – | – | – |
| Belika A/S Industrials · Denmark | 2005 | 2007 | Trade Sale | – | – |
| Bilcon A/S Industrials · Denmark | 1996 | 1999 | Trade Sale | – | – |
| Bilwinco A/S Industrials · Denmark | 1995 | 2010 | Trade Sale | – | – |
| BioDan A/S Industrials · Denmark | 1996 | 2005 | – | – | – |
| Bladt Industries A/S Construction · Denmark | 2001 | 2012 | Secondary | Nordic Capital | – |
| Boform A/S Consumer · Denmark | 2004 | 2015 | Trade Sale | – | – |
| Bramidan A/S Industrials · Denmark | 2004 | 2014 | Secondary | SE Blue Equity | – |
| Bukkehave Corporation A/S Business Services · Denmark | 2003 | 2007 | Trade Sale | CFAO Group | – |
| Carl Vollstedt Eftf. ApS Industrials · Denmark | 2006 | 2008 | – | – | – |
| Comwir A/S Industrials · Denmark | 2005 | 2009 | – | – | – |
| Dan-Iso Holding A/S Industrials · Denmark | 2005 | 2018 | Trade Sale | Erik H. Møller | – |
| Danelec TMT · Denmark | 2005 | 2016 | Trade Sale | – | – |
| Danelec Marine A/S Industrials · Denmark | 2005 | 2016 | Trade Sale | – | – |
| Danplate A/S Industrials · Denmark | 1994 | 1995 | Trade Sale | – | – |
| Dansk Mobelglas A/S Industrials · Denmark | 2000 | 2002 | Trade Sale | – | – |
| DanTruck A/S Industrials · Denmark | 1995 | 2013 | Trade Sale | – | – |
| Despec Nordic Holding A/S Business Services · Denmark | 2006 | 2019 | Trade Sale | SYSTEAM Gesellschaft für Computersysteme mbH | – |
| E.J. Badekabiner Holding A/S Construction · Denmark | 2006 | 2010 | Trade Sale | – | – |
| Engso Gruppen A/S Construction · Denmark | 2006 | 2013 | – | – | – |
| Fibo Maskiner A/S Industrials · Denmark | 2000 | 2003 | – | – | – |
| First Impression A/S Business Services · Denmark | 1999 | 2000 | – | – | – |
| Gama Dan Equip A/S Industrials · Denmark | 1999 | 2003 | – | – | – |
| GJ Industrilakering A/S Industrials · Denmark | 1996 | 1999 | – | – | – |
| GK Glas A/S Industrials · Denmark | 1996 | 2002 | – | – | – |
| Globe Meat Technology A/S Industrials · Denmark | 1996 | 2000 | Trade Sale | – | – |
| Gråkjær Staldbyg A/S Construction · Denmark | 2000 | 2001 | Trade Sale | – | – |
| Green Farm Energy A/S Energy · Denmark | 2001 | 2011 | Trade Sale | – | – |
| HMK Holding A/S Industrials · Denmark | 2000 | 2004 | Trade Sale | – | – |
| Hokodan A/S Industrials · Denmark | 2005 | 2007 | Trade Sale | – | – |
| I-Data International A/S TMT · Denmark | 1998 | 2002 | Trade Sale | – | – |
| ICEA Denmark A/S Industrials · Denmark | 1999 | 2003 | Trade Sale | – | – |
| Incon A/S Industrials · Denmark | 1995 | 1999 | Trade Sale | – | – |
| J. Hvidtved Larsen A/S Industrials · Denmark | 1997 | 2016 | Trade Sale | Bucher Industries AG | – |
| J. Zartow A/S Industrials · Denmark | 1997 | 2002 | Trade Sale | – | – |
| Jydsk Aluminium Industri A/S Industrials · Denmark | 2001 | 2005 | Trade Sale | JAI Holding 2006 ApS | – |
| K.P. Komponenter A/S Industrials · Denmark | 1998 | 2014 | Trade Sale | Segulah | – |
| KE Fibertec A/S Industrials · Denmark | 1996 | 2003 | Trade Sale | – | – |
| Kjaergaard - El & Industri Automatik A/S Industrials · Denmark | 1998 | 2003 | Trade Sale | – | – |
| Kurt Hansen Holding A/S Industrials · Denmark | 2000 | 2010 | – | – | – |
| Labofa Munch A/S Consumer · Denmark | 2006 | 2008 | – | – | – |
| Marketing Group A/S Business Services · Denmark | 1997 | 2000 | – | – | – |
| MatchWork Software · Denmark | 2001 | 2003 | Trade Sale | OFiR A/S | – |
| MatchWork World Wide A/S HR Tech · Denmark | 2001 | 2003 | Trade Sale | OFiR A/S | – |
| Meincke Holding A/S Industrials · Denmark | 2005 | 2009 | – | – | – |
| Mermaid Technology A/S TMT · Denmark | 1998 | 2003 | – | – | – |
| Metropak A/S Industrials · Denmark | 2004 | 2006 | – | – | – |
| Multifurn A/S Consumer · Denmark | 1998 | 1999 | – | – | – |
| Nettoline Holding A/S Consumer · Denmark | 2003 | 2016 | Trade Sale | TCM Group A/S | – |
| Nordjysk EDB-Center A/S IT Services · Denmark | 2000 | 2001 | Trade Sale | – | – |
| NTD International A/S Industrials · Denmark | 2000 | 2001 | – | – | – |
| Omada A/S Cybersecurity · Denmark | 2000 | 2018 | Secondary | GRO Capital | – |
| P.N. Erichsen Holding A/S Industrials · Denmark | 2002 | 2003 | Trade Sale | – | – |
| PF Management Holding ApS Industrials · Denmark | 1997 | 2013 | Trade Sale | – | – |
| PhaseOne Trials A/S Healthcare · Denmark | 2003 | 2009 | Trade Sale | – | – |
| PNE Steel A/S Industrials · Denmark | 2003 | 2007 | Trade Sale | – | – |
| Royal Danish Seafood Group A/S FoodTech · Denmark | 2004 | 2008 | Trade Sale | – | – |
| Saint Tropez Holding A/S Consumer · Denmark | 1998 | 2002 | Trade Sale | IC Companys A/S | – |
| ScanView A/S TMT · Denmark | 1997 | 2000 | Trade Sale | Purup-Eskofot A/S | – |
| Stema Engineering A/S Industrials · Denmark | 2006 | 2010 | Trade Sale | – | – |
| Sunprojuice Denmark A/S FoodTech · Denmark | 1997 | 1998 | – | – | – |
| Syntax Gruppen A/S IT Services · Denmark | 2000 | 2003 | – | – | – |
| Timberman Denmark A/S Construction · Denmark | 1995 | 2011 | Trade Sale | Amorim Cork Flooring S.A. | – |
| Tinglev Elementfabrik A/S Construction · Denmark | 1994 | 2006 | Trade Sale | Contiga AS | – |
| Tomrer & Snedkergarden A/S Construction · Denmark | 1997 | 1998 | – | – | – |
| Trip Trap Consumer · Denmark | 1995 | 2007 | Trade Sale | – | – |
| Trip Trap Denmark A/S Consumer · Denmark | 1995 | 2007 | Trade Sale | – | – |
| Ulmadan A/S Industrials · Denmark | 2005 | 2007 | Trade Sale | – | – |
| Ulmadan Productions A/S Industrials · Denmark | 2000 | 2005 | Trade Sale | – | – |
| UM A/S Industrials · Denmark | 1995 | 2002 | – | – | – |
| Union Engineering A/S Industrials · Denmark | 2002 | 2010 | Trade Sale | Capidea | – |
| Vildbjerg Papir A/S Industrials · Denmark | 1999 | 2006 | Trade Sale | – | – |
| Virklund Sport A/S Consumer · Denmark | 2001 | 2018 | Trade Sale | Unisport | – |
| Vitral Holding A/S Construction · Denmark | 2005 | 2011 | Trade Sale | – | – |
| VPG Holding A/S Industrials · Denmark | 1997 | 2008 | Trade Sale | – | – |
| WoodCare Denmark A/S Industrials · Denmark | 2004 | 2015 | Trade Sale | Bjert Private Equity A/S | – |
| Zacho Mørup A/S Consumer · Denmark | 1998 | 1999 | Trade Sale | – | – |
| Zealand Care A/S Healthcare · Denmark | 2001 | 2004 | Trade Sale | Welzorg Group | – |
Frequently asked questions
- What investment strategy does Industri Udvikling focus on?
- Industri Udvikling focuses on Buyout strategies in the private equity space.
- How many portfolio companies does Industri Udvikling have?
- Industri Udvikling has 33 active portfolio companies and 139 completed exits and 4 funds tracked on GP Intel.
- Where is Industri Udvikling headquartered?
- Industri Udvikling is headquartered in Copenhagen, Denmark.
- When was Industri Udvikling founded?
- Industri Udvikling was founded in 1994.
- What sectors does Industri Udvikling invest in?
- Industri Udvikling invests across Industrials, Business Services, Consumer.
- What are Industri Udvikling's recent exits?
- Recent realized exits by Industri Udvikling include: HMK Bilcon A/S (2026) to Nordic Resilience Equity; Ostergaard Entreprise A/S (2026) to Munck Gruppen; Spectre Holding A/S (2026) to Schouw & Co.; Sports Group Denmark A/S (2025) to Heartland; Salfarm (2024) to Polaris Private Equity; Salpharm Holding ApS (2024) to Polaris Private Equity; Tic elkas A/S (2023) to Axcel; Coze Aarhus A/S (2023) to Seria ApS / Lena Trend.
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Last updated August 2026 · Sourced from public filings · Report an issue