Asia-Europe investor AGIC supports Danish electronics buyout

Financial terms were not disclosed. AGIC is acquiring the company alongside Denmark-based family office Kirk Kapital. Kirk manages the wealth of the descendants of Ole Kirk Christiansen, founder of toy giant Lego.

PR was founded in 1974, set up its China subsidiary in Shanghai in 2012, and launched a Chinese-language website the following year. Customers in the country include Dutch chemicals company Akzo Nobel, which has a factory in Jiangsu province.

PR specialises in signal conditioning devices, which are electronic interfaces used in various meters and converters such as temperature control systems. In the case of Akzo Nobel, it provided temperature transmitters that helped minimise equipment downtime. There are also clients in industries such as energy, food, marine, pharmaceuticals, and water.

Existing management will remain intact. CEO Simon Bisbo said activity was at a “record high,” flagging plans to grow through acquisitions under the new ownership. The company generated revenue of EUR 58.6m (USD 63.4m) and EBITDA of EUR 14.2m in 2022.

“The need for making industrial process control safer, more reliable, and more efficient will only grow globally in the coming years. With a strong management team and world-class products, PR Electronics is uniquely positioned to be the partner of choice for the process and automatization industry,” Ben Mitchell, a managing director at AGIC, said in a statement.

AGIC claims EUR 2bn in assets under management and extensive experience in electronics and automation businesses. Recent activity includes the acquisition last November of German pharmaceuticals manufacturing company ATEC and the sale of US-headquartered Ritedose, a similar pharmaceuticals player, to Denmark’s Novo Holdings.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Europe
• Greater China
• Industrials
• Technology
• Buyouts
• China
• AGIC Capital
• manufacturing