The Kronospan Group has acquired all shares of the Danish particleboard manufacturer Novopan Træindustri as of November 6, 2015. The former owners of Novopan - PenSam LD EQUITY 1 and FIH - have held the shares for more than 30 years and for strategic reasons, they decided to sell their shares in Novopan.
According to Danish media, the sale of Novopan comes as no surprise. Already since 2007 Novopan was put on sale allegedly at a price of about a quarter-billion Danish krona (around 33,5 million euro). A lot of buyers have shown interest, however, no one would pay the right price, Hans Lohmann, the former CEO of Novopan, stated to Danish media.
Novopan has a strong market position in the Nordic markets, and with the acquisition, Kronospan seeks to improve market share in Scandinavia.
Kronospan is the world's leading manufacturer of wood panels. The group has over 40 production facilities and more than 14,000 employees. With the acquisition of Novopan, Kronospan plans to implement its successful range of products such as Kronodesign and Kronobuild in Novopans product range.
Novopan Træindustri A-S operates as a particleboard manufacturer that manufactures and markets chipboards, wall panels, door frames, and laminated flooring. The company also supplies support materials for laminated flooring. Its products are used for new building and refurbishment projects. Novopan serves the Danish building industry, and kitchen and furniture manufacturers. Novopan was founded in 1950 and is based in Ryomgaard, Denmark.