Industri Udvikling
Danish 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
Key facts
Recent exits
HMK Bilcon A/S
Industrials2026 · 3yr hold
Ostergaard Entreprise A/S
Construction2026 · 2yr hold
Spectre Holding A/S
Consumer2026 · 5yr hold
Sports Group Denmark A/S
Consumer2025 · 10yr hold
Coverage notes
4 funds tracked, 172 portfolio companies (33 active · 139 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
172 companiesIndustrials
97 · 56%
Consumer
26 · 15%
Construction
9 · 5%
FoodTech
8 · 5%
Business Services
8 · 5%
TMT
5 · 3%
Energy
4 · 2%
Healthcare
3 · 2%
Funds & portfolio
Every fund Industri Udvikling has raised, with its portfolio companies. Hand-checked from public filings.
4 funds
Industri Udvikling VBuyoutHarvesting2019 · 7yr20 active · 7 realized
Unrealized
20 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Construction |  Denmark | 2021 | |
| Industrials | Denmark | 2023 | |
| Consumer | Denmark | 2024 | |
| Consumer | Denmark | 2021 | |
| FoodTech | Denmark | 2022 | |
| Aerospace & Defence | Denmark | 2024 | |
| Energy | Denmark | 2023 | |
| Industrials | Denmark | 2025 | |
| Consumer | Denmark | 2023 | |
| Consumer | Denmark | 2023 | |
| Industrials | Denmark | 2025 | |
| Industrials | Denmark | 2023 | |
| Consumer | Denmark | 2022 | |
| Industrials | Denmark | 2021 | |
| Business Services | Denmark | 2023 | |
| Industrials | Denmark | 2020 | |
| LegalTech | Denmark | 2025 | |
| Business Services | Denmark | 2022 | |
| Industrials | Denmark | 2019 | |
| Consumer | Denmark | 2023 |
Brandfix A/SActive
ConstructionDenmark· Entry 2021
Denmark· Entry 2021CN3 A/SActive
IndustrialsDenmark· Entry 2023
Denmark· Entry 2023Creativ CompanyActive
ConsumerDenmark· Entry 2024
Denmark· Entry 2024Eico A/SActive
ConsumerDenmark· Entry 2021
Denmark· Entry 2021Food and Event Lab ApSActive
FoodTechDenmark· Entry 2022
Denmark· Entry 2022Aerospace & DefenceDenmark· Entry 2024
Denmark· Entry 2024Hans Aa A/SActive
EnergyDenmark· Entry 2023
Denmark· Entry 2023HBC Group ApSActive
IndustrialsDenmark· Entry 2025
Denmark· Entry 2025HelsamActive
ConsumerDenmark· Entry 2023
Denmark· Entry 2023Helsam Gruppen A/SActive
ConsumerDenmark· Entry 2023
Denmark· Entry 2023JP Air Tech ApSActive
IndustrialsDenmark· Entry 2025
Denmark· Entry 2025Logitrans A/SActive
IndustrialsDenmark· Entry 2023
Denmark· Entry 2023Onyx Cookware ApSActive
ConsumerDenmark· Entry 2022
Denmark· Entry 2022RG Rom Gummi A/SActive
IndustrialsDenmark· Entry 2021
Denmark· Entry 2021Standout A/SActive
Business ServicesDenmark· Entry 2023
Denmark· Entry 2023Stotek A/SActive
IndustrialsDenmark· Entry 2020
Denmark· Entry 2020TestaViva DK ApSActive
LegalTechDenmark· Entry 2025
Denmark· Entry 2025Viegand Maagoe A/SActive
Business ServicesDenmark· Entry 2022
Denmark· Entry 2022Wila A/SActive
IndustrialsDenmark· Entry 2019
Denmark· Entry 2019ConsumerDenmark· Entry 2023
Denmark· Entry 2023Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Denmark | 2023 | 2026 | Secondary | – | ||
| Construction | Denmark | 2024 | 2026 | Trade Sale | – | ||
| Pharma | Denmark | 2020 | 2024 | Secondary | – | ||
| Pharma | Denmark | 2020 | 2024 | Trade Sale | – | ||
| Consumer | Denmark | 2021 | 2026 | Trade Sale | – | ||
| Industrials | Denmark | 2022 | 2023 | Secondary | – | ||
| Healthcare | Denmark | 2019 | 2021 | Secondary | – |
Industri Udvikling IVBuyoutHarvesting2013 · 13yr13 active · 19 realized
Unrealized
13 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Industrials | Denmark | 2018 | |
| Industrials | Denmark | 2018 | |
| Industrials | Denmark | 2016 | |
| Industrials | Denmark | 2017 | |
| FoodTech | Denmark | 2017 | |
| Industrials | Denmark | 2016 | |
| Industrials | Denmark | 2014 | |
| Industrials | Denmark | 2013 | |
| Industrials | Denmark | 2015 | |
| Industrials | Denmark | 2018 | |
| Industrials | Denmark | 2018 | |
| Logistics | Denmark | 2017 | |
| FoodTech | Denmark | 2015 |
Aabo-Ideal A/SActive
IndustrialsDenmark· Entry 2018
Denmark· Entry 2018Dania Plast A/SActive
IndustrialsDenmark· Entry 2018
Denmark· Entry 2018Effection A/SActive
IndustrialsDenmark· Entry 2016
Denmark· Entry 2016GM - Finish FirstActive
IndustrialsDenmark· Entry 2017
Denmark· Entry 2017GM/GM FunctionalsActive
FoodTechDenmark· Entry 2017
Denmark· Entry 2017ICEpower A/SActive
IndustrialsDenmark· Entry 2016
Denmark· Entry 2016John Bjerrum Nielsen A/SActive
IndustrialsDenmark· Entry 2014
Denmark· Entry 2014Kvist Industries A/SActive
IndustrialsDenmark· Entry 2013
Denmark· Entry 2013LaurieActive
IndustrialsDenmark· Entry 2015
Denmark· Entry 2015RK Plast (RK Group A/S)Active
IndustrialsDenmark· Entry 2018
Denmark· Entry 2018Sam PartnerActive
IndustrialsDenmark· Entry 2018
Denmark· Entry 2018System Transport A/SActive
LogisticsDenmark· Entry 2017
Denmark· Entry 2017Tenax Sild A/SActive
FoodTechDenmark· Entry 2015
Denmark· Entry 2015Realized
19 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Consumer | Denmark | 2013 | 2019 | MBO | – | ||
| Industrials | Denmark | 2017 | 2018 | Secondary | – | ||
| Consumer | Denmark | 2013 | 2015 | Trade Sale | – | ||
| Consumer | Denmark | 2015 | 2023 | Trade Sale | – | ||
| Industrials | Denmark | 2015 | 2024 | Trade Sale | – | – | |
| Industrials | Denmark | 2015 | 2016 | – | – | – | |
| Aerospace & Defence | Denmark | 2016 | 2017 | Trade Sale | – | – | |
| FoodTech | Denmark | 2014 | 2018 | Trade Sale | – | ||
| Energy | Denmark | 2013 | 2015 | Trade Sale | – | – | |
| TMT | Denmark | 2016 | 2023 | Secondary | – | ||
| Industrials | Denmark | 2014 | 2020 | Trade Sale | – | ||
| Industrials | Denmark | 2017 | 2021 | Secondary | – | ||
| Consumer | Denmark | 2016 | 2018 | Trade Sale | – | – | |
| Industrials | Denmark | 2018 | 2021 | Trade Sale | – | ||
| Industrials | Denmark | 2018 | 2021 | Trade Sale | – | ||
| Industrials | Denmark | 2018 | 2020 | Trade Sale | – | ||
| Industrials | Denmark | 2013 | 2015 | Trade Sale | – | – | |
| Industrials | Denmark | 2014 | 2022 | Trade Sale | – | ||
| Consumer | Denmark | 2015 | 2025 | Trade Sale | – |
East.dk ApSExited 2016
IndustrialsDenmark· Entry 2015
Denmark· Entry 2015Industri Udvikling IIIBuyoutRealized2007 · 19yr0 active · 34 realized
Realized
34 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Denmark | 2010 | 2013 | Trade Sale | – | ||
| FoodTech | Denmark | 2008 | 2017 | Trade Sale | – | ||
| Industrials | Denmark | 2007 | 2011 | Trade Sale | – | ||
| Industrials | Denmark | 2010 | 2011 | – | – | – | |
| Industrials | Denmark | 2012 | 2023 | Trade Sale | – | ||
| Industrials | Denmark | 2010 | 2014 | MBO | – | ||
| Industrials | Denmark | 2007 | 2010 | Trade Sale | – | – | |
| MedTech | Denmark | 2011 | 2013 | Trade Sale | – | ||
| Consumer | Denmark | 2008 | 2011 | Trade Sale | – | – | |
| Industrials | Denmark | 2010 | 2020 | Trade Sale | – | ||
| Industrials | Denmark | 2007 | 2011 | Trade Sale | – | ||
| Consumer | Denmark | 2009 | 2011 | Trade Sale | – | – | |
| Consumer | Denmark | 2007 | 2017 | Secondary | – | ||
| Industrials | Denmark | 2012 | 2019 | Trade Sale | – | ||
| Industrials | Denmark | 2007 | 2010 | Trade Sale | – | ||
| Consumer | Denmark | 2007 | 2010 | Trade Sale | – | – | |
| Industrials | Denmark | 2008 | 2019 | Trade Sale | – | ||
| Business Services | Denmark | 2007 | 2014 | Trade Sale | – | – | |
| Business Services | Denmark | 2007 | 2014 | Trade Sale | – | – | |
| Industrials | Denmark | 2011 | 2018 | Secondary | – | ||
| Industrials | Denmark | 2012 | 2017 | Trade Sale | – | – | |
| Industrials | Denmark | 2012 | 2017 | – | – | – | |
| Industrials | Denmark | 2007 | 2019 | Secondary | – | ||
| Consumer | Denmark | 2012 | 2020 | MBO | – | ||
| Industrials | Denmark | 2007 | 2023 | Trade Sale | – | – | |
| Industrials | Denmark | 2010 | 2012 | Trade Sale | – | ||
| Industrials | Denmark | 2010 | 2016 | MBO | – | ||
| Industrials | Denmark | 2008 | 2012 | Trade Sale | – | – | |
| Industrials | Denmark | 2011 | 2018 | Trade Sale | – | ||
| Industrials | Denmark | 2011 | 2015 | Trade Sale | – | ||
| FoodTech | Denmark | 2012 | 2018 | Trade Sale | – | ||
| Industrials | Denmark | 2012 | 2022 | Trade Sale | – | ||
| Energy | Denmark | 2010 | 2018 | Trade Sale | – | ||
| Industrials | Denmark | 2011 | 2016 | Trade Sale | – | – |
Brdr. A. & B. Andersen A/SExited 2011
IndustrialsDenmark· Entry 2010
Denmark· Entry 2010Lindo Steel A/SExited 2017
IndustrialsDenmark· Entry 2012
Denmark· Entry 2012Industri Udvikling (early)BuyoutRealized1994 · 32yr0 active · 79 realized
Realized
79 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Industrials | Denmark | 1999 | 2011 | Trade Sale | – | ||
| Industrials |  Sweden | 1995 | 1998 | – | – | – | |
| Industrials | Denmark | 2005 | 2007 | Trade Sale | – | – | |
| Industrials | Denmark | 1996 | 1999 | Trade Sale | – | – | |
| Industrials | Denmark | 1995 | 2010 | Trade Sale | – | – | |
| Industrials | Denmark | 1996 | 2005 | – | – | – | |
| Industrials | Denmark | 2001 | 2012 | Secondary | – | ||
| Consumer | Denmark | 2004 | 2015 | Trade Sale | – | – | |
| Industrials | Denmark | 2004 | 2014 | Secondary | – | ||
| Business Services | Denmark | 2003 | 2007 | Trade Sale | – | ||
| Industrials | Denmark | 2006 | 2008 | – | – | – | |
| Industrials | Denmark | 2005 | 2009 | – | – | – | |
| Industrials | Denmark | 2005 | 2018 | Trade Sale | – | ||
| TMT | Denmark | 2005 | 2016 | Trade Sale | – | – | |
| Industrials | Denmark | 2005 | 2016 | Trade Sale | – | – | |
| Industrials | Denmark | 1994 | 1995 | Trade Sale | – | – | |
| Industrials | Denmark | 2000 | 2002 | Trade Sale | – | – | |
| Industrials | Denmark | 1995 | 2013 | Trade Sale | – | – | |
| Business Services | Denmark | 2006 | 2019 | Trade Sale | – | ||
| Construction | Denmark | 2006 | 2010 | Trade Sale | – | – | |
| Construction | Denmark | 2006 | 2013 | – | – | – | |
| Industrials | Denmark | 2000 | 2003 | – | – | – | |
| Business Services | Denmark | 1999 | 2000 | – | – | – | |
| Industrials | Denmark | 1999 | 2003 | – | – | – | |
| Industrials | Denmark | 1996 | 1999 | – | – | – | |
| Industrials | Denmark | 1996 | 2002 | – | – | – | |
| Industrials | Denmark | 1996 | 2000 | Trade Sale | – | – | |
| Construction | Denmark | 2000 | 2001 | Trade Sale | – | – | |
| Energy | Denmark | 2001 | 2011 | Trade Sale | – | – | |
| Industrials | Denmark | 2000 | 2004 | Trade Sale | – | – | |
| Industrials | Denmark | 2005 | 2007 | Trade Sale | – | – | |
| TMT | Denmark | 1998 | 2002 | Trade Sale | – | – | |
| Industrials | Denmark | 1999 | 2003 | Trade Sale | – | – | |
| Industrials | Denmark | 1995 | 1999 | Trade Sale | – | – | |
| Industrials | Denmark | 1997 | 2016 | Trade Sale | – | ||
| Industrials | Denmark | 1997 | 2002 | Trade Sale | – | – | |
| Industrials | Denmark | 2001 | 2005 | Trade Sale | – | ||
| Industrials | Denmark | 1998 | 2014 | Trade Sale | – | ||
| Industrials | Denmark | 1996 | 2003 | Trade Sale | – | – | |
| Industrials | Denmark | 1998 | 2003 | Trade Sale | – | – | |
| Industrials | Denmark | 2000 | 2010 | – | – | – | |
| Consumer | Denmark | 2006 | 2008 | – | – | – | |
| Business Services | Denmark | 1997 | 2000 | – | – | – | |
| Software | Denmark | 2001 | 2003 | Trade Sale | – | ||
| HR Tech | Denmark | 2001 | 2003 | Trade Sale | – | ||
| Industrials | Denmark | 2005 | 2009 | – | – | – | |
| TMT | Denmark | 1998 | 2003 | – | – | – | |
| Industrials | Denmark | 2004 | 2006 | – | – | – | |
| Consumer | Denmark | 1998 | 1999 | – | – | – | |
| Consumer | Denmark | 2003 | 2016 | Trade Sale | – | ||
| IT Services | Denmark | 2000 | 2001 | Trade Sale | – | – | |
| Industrials | Denmark | 2000 | 2001 | – | – | – | |
| Software | Denmark | 2000 | 2018 | Secondary | – | ||
| Industrials | Denmark | 2002 | 2003 | Trade Sale | – | – | |
| Industrials | Denmark | 1997 | 2013 | Trade Sale | – | – | |
| Healthcare | Denmark | 2003 | 2009 | Trade Sale | – | – | |
| Industrials | Denmark | 2003 | 2007 | Trade Sale | – | – | |
| FoodTech | Denmark | 2004 | 2008 | Trade Sale | – | – | |
| Consumer | Denmark | 1998 | 2002 | Trade Sale | – | ||
| TMT | Denmark | 1997 | 2000 | Trade Sale | – | ||
| Industrials | Denmark | 2006 | 2010 | Trade Sale | – | – | |
| FoodTech | Denmark | 1997 | 1998 | – | – | – | |
| IT Services | Denmark | 2000 | 2003 | – | – | – | |
| Construction | Denmark | 1995 | 2011 | Trade Sale | – | ||
| Construction | Denmark | 1994 | 2006 | Trade Sale | – | ||
| Construction | Denmark | 1997 | 1998 | – | – | – | |
| Consumer | Denmark | 1995 | 2007 | Trade Sale | – | – | |
| Consumer | Denmark | 1995 | 2007 | Trade Sale | – | – | |
| Industrials | Denmark | 2005 | 2007 | Trade Sale | – | – | |
| Industrials | Denmark | 2000 | 2005 | Trade Sale | – | – | |
| Industrials | Denmark | 1995 | 2002 | – | – | – | |
| Industrials | Denmark | 2002 | 2010 | Trade Sale | – | ||
| Industrials | Denmark | 1999 | 2006 | Trade Sale | – | – | |
| Consumer | Denmark | 2001 | 2018 | Trade Sale | – | ||
| Construction | Denmark | 2005 | 2011 | Trade Sale | – | – | |
| Industrials | Denmark | 1997 | 2008 | Trade Sale | – | – | |
| Industrials | Denmark | 2004 | 2015 | Trade Sale | – | ||
| Consumer | Denmark | 1998 | 1999 | Trade Sale | – | – | |
| Healthcare | Denmark | 2001 | 2004 | Trade Sale | – |
Akerbergs Maskiner A/SExited 1998
IndustrialsSweden· Entry 1995
Sweden· Entry 1995BioDan A/SExited 2005
IndustrialsDenmark· Entry 1996
Denmark· Entry 1996Carl Vollstedt Eftf. ApSExited 2008
IndustrialsDenmark· Entry 2006
Denmark· Entry 2006Comwir A/SExited 2009
IndustrialsDenmark· Entry 2005
Denmark· Entry 2005Engso Gruppen A/SExited 2013
ConstructionDenmark· Entry 2006
Denmark· Entry 2006Fibo Maskiner A/SExited 2003
IndustrialsDenmark· Entry 2000
Denmark· Entry 2000First Impression A/SExited 2000
Business ServicesDenmark· Entry 1999
Denmark· Entry 1999Gama Dan Equip A/SExited 2003
IndustrialsDenmark· Entry 1999
Denmark· Entry 1999GJ Industrilakering A/SExited 1999
IndustrialsDenmark· Entry 1996
Denmark· Entry 1996GK Glas A/SExited 2002
IndustrialsDenmark· Entry 1996
Denmark· Entry 1996Kurt Hansen Holding A/SExited 2010
IndustrialsDenmark· Entry 2000
Denmark· Entry 2000Labofa Munch A/SExited 2008
ConsumerDenmark· Entry 2006
Denmark· Entry 2006Marketing Group A/SExited 2000
Business ServicesDenmark· Entry 1997
Denmark· Entry 1997Meincke Holding A/SExited 2009
IndustrialsDenmark· Entry 2005
Denmark· Entry 2005Mermaid Technology A/SExited 2003
TMTDenmark· Entry 1998
Denmark· Entry 1998Metropak A/SExited 2006
IndustrialsDenmark· Entry 2004
Denmark· Entry 2004Multifurn A/SExited 1999
ConsumerDenmark· Entry 1998
Denmark· Entry 1998NTD International A/SExited 2001
IndustrialsDenmark· Entry 2000
Denmark· Entry 2000Sunprojuice Denmark A/SExited 1998
FoodTechDenmark· Entry 1997
Denmark· Entry 1997Syntax Gruppen A/SExited 2003
IT ServicesDenmark· Entry 2000
Denmark· Entry 2000Tomrer & Snedkergarden A/SExited 1998
ConstructionDenmark· Entry 1997
Denmark· Entry 1997UM A/SExited 2002
IndustrialsDenmark· Entry 1995
Denmark· Entry 1995Track Industri Udvikling
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Last updated August 2026 · Sourced from public filings · Report an issue