Clearwater has advised the owners of PR electronics A/S (PR electronics), a leading designer and manufacturer of signal conditioning instrumentation, on its sale to a partnership consisting of the Denmark-based family office investment firm, Kirk Kapital, and the European-Asian private equity firm, AGIC Capital.
PR electronics’ products enable operations engineers and plant managers to safely and accurately measure temperature, pressure, level, and flow in hazardous process environments. PR electronics has nine direct sales subsidiaries, and distributors in more than 40 countries globally. Production takes place in Ronde, Denmark, at the company headquarters. In 2022, the company generated revenue of €58.6m (437m DKK) and achieved an EBITDA of €14.2m (106m DKK).
PR electronics was established in 1974 by Peter Rasmussen. In 2009, his son Kim became the new owner and CEO. In 2022, Kim transitioned leadership of the company to Simon Bisbo, who became CEO.
AGIC Capital is a growth-oriented private equity firm with €2bn in Assets Under Management (AUM), with extensive experience from previous investments in electronics and automation businesses.
Kirk Kapital is an investment company owned by the Kirk Johansen family, who are descendants of Lego Group founder, Ole Kirk Christiansen. The company manages approximately €1.88bn in AUM, invested within strategic investments and financial investments.
Going forward, the majority of the company will continue to be primarily controlled by Danish investors including Kirk Kapital, management, and Kim Rasmussen, who will reinvest in the company.
