ICEpower Management and the Danish private equity fund Industry Development has acquired ICEpower A/S with a 50% / 50% ownership.
This is a fantastic opportunity to the benefit of our customers, says CEO of ICEpower A/S, Keld Lindegaard Andersen. On June 1st, 2012 we changed the name from Bang & Olufsen ICEpower A/S to ICEpower A/S since that day we have been preparing for a future in which we would leave the Bang & Olufsen Group in order to become independent. We are now as independent as we can possible become. At the same time, we have the best possible partner one can find in Denmark amongst private equity partners.
Industry Udvikling is all about developing small and medium-sized industry companies with a long-term scope.Industri Udvikling was formed in 1994 with the object of setting up a private equity company that was to invest in small and medium-sized Danish manufacturing companies. Industri Udvikling invests primarily in Danish manufacturing companies with sales up to DKK 400 million, with the aim of developing the companies over a number of years. There is no fixed timeframe for how long a company should remain in the ownership of Industri Udvikling.
The goal for the ICEpower management team and Industri Udvikling is to develop ICEpower further and consolidate its position as a leader in class d audio power conversion. ICEpower will continue to provide class D audio solutions to manufacturers of professional and consumer audio products. The ICEpower management team will own 50% of the company and so will Industri Udvikling (50%).
ICEpower is a fast growing, innovation-based sound house specializing in audio power conversion solutions. With market leading clients in Europe, Asia and North America, ICEpower’s brand promise is to deliver the industry’s best audio performance.