3/1/2017

GPV acquires BHE and strengthens its position in Northern Europe

As of 1st March GPV acquires the electronics manufacturer BHE in Horsens.

The acquisition promotes the Schouw & Co.-owned GPV’s ambitious growth plan and further consolidates the company in the Northern European home market.

- We follow an ambitious growth strategy that is going to lift our revenue from DKK 850 million (2015) to DKK 1.5 billion in 2020. The growth will come from organic growth and from the establishment of production in Mexico, which we are busy implementing, as well as from acquisitions, CEO Bo Lybæk from GPV explains, and he continues, - We have had a very positive negotiations process with the owners of BHE in recent months, and we are all satisfied with the acquisition agreement that has just been signed.

BHE was set up in 1984 and has for a number of years traded for about DKK 100 million, mainly through sales to the Danish and German markets. The company was pre-owned by Bjarne Stenberg and Poul Martin Bøtker who functioned as chairman of the board of directors and managing director, respectively. Lately, the two owners have been considering their ownership of the company:

 

- We have a good position in Denmark and in Northern Germany, but we are aware that if we truly are to grow internationally, then new and relatively large investments are needed. Here, GPV has the right size and technological capacity, and we are pleased that GPV is now there to lift our customers and their products to the next level, says Poul Martin Bøtker.

Read more in the enclosed press release here 

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