Danish manufacturer of mixers, conveyers and landscaping equipment B+A has welcomed a new CEO and financial investor.
The company, which produces equipment under the Baron and AK Produkter brands, said its present owners, Rune Harbo and Anker Kjærsgaard, would be continuing as shareholders and employees, while new CEO Carsten Filsø took the reins.
At the same time, Vækst-Invest Nordjylland and Carsten Filsø acquired 65% of the shares in B+A. Mr Harbo and Mr Kjærsgaard will both carry on as shareholders and sales director and technical manager, respectively.
It said the deal broadened the company’s ownership base, and helped it focus on future growth and development. It said safety and ergonomics remained a top priority in future product development, while expanding existing and new dealerships were also critical success factors for the future growth of the company into export markets.
Mr Harbo said, "Anker and I have worked hard since 2006 to bring Baron and AK Produkter into play in the market. Thanks to our many loyal customers and end-users, we have succeeded in doing so.
"We are both convinced that our products have even further potential for growth, and consequently we wanted to broaden the base of ownership and add resources for the purpose of our future mission. We are indeed looking forward to the partnership with Carsten and Vækst-Invest Nordjylland."
And Mr Filsø added, "I see a great potential in approaching a wider geography with B+A's products. There is no doubt whatsoever that we have great strengths in terms of quality and functionality - also stronger than some of the big international actors in the market.
“It will be an interesting challenge to develop both the organisation and the market potential of this business. I have no doubts about the fine growth potentials awaiting us beyond the Danish borders."