EQT announces investment in Ellab
The EQT Mid Market Europe Fund (“EQT”) announced that it has entered into an agreement with the IK VIII Fund, advised by IK Investment Partners, to acquire a majority interest in Ellab. The management will partner with EQT and retain a minority stake in the Company.
EQT will support the continued global growth of Ellab, building on the Company’s impressive track record. EQT will invest to support management’s plan to develop the Company’s go-to-market model in the US and Europe, continuing to devote significant resources to the Company’s R&D and innovation efforts, and expanding the as-a-service offering. Ellab is expected to benefit from EQT’s global presence and deep sector expertise within the cross-section of Industrial Technology, Healthcare and Services.
Peter Krogh, CEO of Ellab, said: “We are proud of Ellab’s accomplishments over the past decades and with the recent expansion of our product portfolio and as-a-service offering we believe that we can be an even more valuable partner to our customers in the future. EQT shares our strong company values and we believe that their global reach and sector expertise makes them an ideal partner and will place Ellab in an excellent position for continuing our momentum and further bolster the commitment to our customers.”
Hanwell Solutions will continue to operate as a standalone entity, retaining our name and brand which are synonymous with top quality British engineering and cutting edge wireless technology, resulting in reliable, robust monitoring solutions.
Find out more about Ellab A/S at www.ellab.com