Clearwater International advises Vækst-Invest and the shareholders of Eico on its sale to Dansk Ejerkapital

Clearwater International has advised Vækst-Invest and the shareholders of Eico, a leading Nordic distributor of cooker hoods and major domestic appliances, on its sale to private equity firm Dansk Ejerkapital. The existing management shareholders, CEO Michael Jacobsen, CSO Niels Poulsen, and the chairman, Poul Sand, invest alongside Dansk Ejerkapital.

Founded in 1981, Eico is a value-adding distributor of major appliances with a market-leading position in the Nordics within cooker hoods and wine coolers. The company has been on an impressive growth trajectory in recent years, successfully penetrating the Nordic markets and extending the category offering to include the full range of major domestic appliances of both own-branded products and brands from world-leading manufacturers. Today, the company offers a full product range consisting of more than 1,000 SKUs, including a new unique product range of Sharp and Vestfrost major appliances tailormade for the Nordic market and has sales of more than €25m and EBITDA of over €3.5m, which has more than tripled since 2018.

Dansk Ejerkapital is a Danish private equity fund which invests in small and medium-sized Danish companies with high potential growth and strong management teams that strive to become market leaders within their markets. Dansk Ejerkapital currently owns 22 companies with total revenue of more than €750m and 6,900 employees.

Dansk Ejerkapital is backing Eico’s ambitious management team led by Michael Jacobsen and Niels Poulsen utilising the strong market position to further increase market shares and accelerate growth through brand portfolio development, product category expansion and international expansion.