The acquisition of Dantherm HVAC by Procuritas V LP will take place through a newly established Danish holding company and includes subsidiaries in Denmark, Norway, Sweden, the UK and Germany.

The acquired group had revenues of c. 310 MDKK in 2015 and has 240 employees.

"We are truly excited about this opportunity. Dantherm is a strong player within HVAC and Telecom cooling with a strong market position and a product portfolio of outmost quality.

"The business’ high technological competence and state-of-the-art factory in Denmark comprises an excellent foundation to further grow and develop the business," said Hans Wikse, managing partner at Procuritas Partners AB, advisor to PCI V.

Torben Duer, CEO of the newly formed group, added "Management is very enthusiastic to develop and grow the business with PCI V as new owners and together take the company to the next level.

"We firmly believe that the European HVAC market will develop positively going forward, and we are thrilled to backed by PCI V who fulfill our strategy of becoming a leading European HVAC player."