Private equity firm sells Danish loss-making wind supplier

Danish private equity firm Axcel is selling domestic wind energy supplier Mita-Teknik after a period of ownership showing consistent losses. The latter is being sold back to the original owner family, Andersen, which for the first time in the company's 50-year existence appears to be disengaged from daily management.

Photo: PR/Mita-Teknik

Danish wind energy supplier Mita-Teknik is being sold back into family ownership. Danish private equity firm Axcel is selling its majority equity position in the company, which supplies wind turbine operating systems, back the original owners, the Andersen family, which aside from founder Holger Hentze Andersen, also consists of his offspring, Jesper, Thomas and Mia Henzte Andersen. Thus ends the private equity firm's almost seven years of unsuccessful ownership.

After having presented black bottom-line figures from the company's inception in 1969, Mita-Teknik has booked consistent, even deepening, losses during the entire period under Axcel's ownership. Altogether, Axcel's proprietorship up to Jan.1, 2018, when the most recent financial figures were published, has incurred net losses totaling DKK 108 million (EUR 14.47 million) since the private equity firm acquired approximately 70 percent of the supplier in May 2012.

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