9. May 2018
DLG sells the remaining part of Kongskilde
The DLG Group divests Kongskilde's Industry and Grain divisions to Green Park Partners. With the sale of Kongskilde and a total of 13 divested companies, the DLG Group has fully executed its strategy to focus on the core business.
DLG has reached agreement to divest the remaining part of the machine manufacturer Kongskilde Industries to Green Park Partners, a UK based principal investment firm. Green Park Partners will acquire Kongskilde Industries’ two remaining divisions: The Industry Division, which makes system solutions to a diverse range of industries, and the Grain Division, which produces grain silos and grain transport systems.
"Since we sold Kongskilde's Agro activities in early 2017, we have been working to sell the remaining part of Kongskilde. We have been able to do so at our own pace as earnings in Kongskilde Industries have improved significantly in recent years. It is, therefore, very satisfactory for us to hand over a well-run company to a serious buyer, Green Park Partners, who will focus on operating and developing the company further", says Lars Sørensen, Group CFO at DLG.
According to the sales and purchase agreement, all employees and management will continue in their current jobs under the new owner, with effect from 1 June 2018.
Milestone for DLG
With the sale of Kongskilde Industries, the DLG Group has completed its plan to sell the companies that are not part of the core business.
"The sale of Kongskilde is a milestone for DLG, and we are now completely aligned with our plan, that we have worked on for several years. We have successfully completed 13 divestments since the summer of 2015, and it is very satisfactory indeed to have reached that goal", says CFO in DLG, Lars Sørensen.