TO HEAR FROM YOU
TO HEAR FROM YOU
Founders and majority shareholders Lars Kristensen and Michael Børresen are selling 45% of their shares to Vækst-Invest and new CEO Kent Sørensen. Since their beginnings in 2012, the companies in the group have undergone innovative, healthy and profitable growth, and both Lars and Michael will be continuing as CSO and CTO respectively. Kent has held the position of CFO in Audio Group Denmark since 2020 and will now also be leading the companies as CEO as the group continues its journey of growth.
Lars Kristensen states that “The chemistry with Vækst-Invest has been crucial in determining our choice; we have common core values, and with our companies on the cusp of a very exciting future with high growth and a change of CEO, I can dedicate my focus to the sale of our fantastic products in the future”. Founder and CTO Michael Børresen adds: “I’m looking forward to working with Vækst-Invest, which has vast experience of companies in niches selling proprietary products in the global market. At the same time, I’m looking forward to applying even greater focus to developing our range with new and innovative products to further our quest for the optimum sound in collaboration with our highly capable employees and business partners.”
Audio Group Denmark produces proprietary high-end audio equipment developed and manufactured in Denmark. The three companies that have made up the group to date are Ansuz Acoustics (cables, etc.), Aavik Acoustics (electronics) and Børresen Acoustics (loudspeakers). All the products are considered to be at the very top of the range in global terms – both by dealers and end-users, who are often passionate audiophiles in pursuit of the perfect sound experience. The companies have all experienced substantial growth in terms of revenue and earnings over an extended period.
Vækst-Invest is looking forward to helping to ensure the continued positive development that Audio Group Denmark is currently undergoing, in addition to contributing with its experience from other similar businesses with further scaling and focus on growth on both the top and bottom line.
“We’ve enjoyed an extensive dialogue with Lars and Michael over a number of years,” states Partner at Vækst-Invest II, Lars Bundgaard Sørensen, “and we’re extremely impressed by their development and the professional job they’ve done on all fronts. There are many aspects that can be highlighted, but their execution in terms of product development, in particular, is unique, whilst at the same time experiencing growth on all markets”.
As planned, Kent Sørensen will be assuming the role of CEO in the companies, whose headquarters will remain in Aalborg, and he adds: “Together with the new group of shareholders, Audio Group Denmark will be run in the same spirit as it is today, with dedicated and capable employees in all functions – the pursuit of the perfect sound experience will continue for the benefit of our customers and end-users alike.”
Vækst-Invest II is a private equity fund with focus on small and medium-sized businesses located in Jutland. The fund’s investment focus is on businesses with revenues of up to DKK 150 million – although the majority of investments are expected to be made in businesses with a turnover of DKK 25-100 million. Audio Group Denmark A/S is the fourth investment carried out by Vækst-Invest II.