Private equity fund invests in Audio Group Denmark – Founders and majority shareholders Lars Kristensen and Michael Børresen sold 45% of their shares to Vækst-Invest and new CEO Kent Sørensen. Since their beginning in 2012, the group's companies have undergone profitable growth. Lars and Michael continue as CSO and CTO respectively. Kent held the position of CFO in Audio Group Denmark since 2020 and will now lead the companies as CEO. "We've had a lengthy dialogue with Vækst-Invest and look forward to their joining us," states founder Lars Kristensen. "For our choice chemistry was crucial. We hold common core values. With our companies on the cusp of a very exciting future with high growth, a change of CEO means that I can now dedicate my focus to the sales and marketing of our products". Founder and CTO Michael Børresen adds: "I look forward to working with Vækst-Invest. They have vast experience of companies in niches selling proprietary products to the global market. I also look forward to applying even greater focus to developing our range with new innovative products."
"Over a number of years, we enjoyed an extensive dialogue with Lars and Michael," states Vækst-Invest II partner Lars Bundgaard Sørensen. "We're extremely impressed by their development and the professional job done on all fronts. There are many aspects to be highlighted but their execution of product development in particular is unique whilst at the same time experiencing growth in all markets". Partner at Vækst-Invest II Jeppe Hoff Nyby adds: "We very much look forward to growing these companies even more. They built an excellent platform which we shall continue to develop and strengthen in the years ahead." As planned, Kent Sørensen assumes the role of CEO in the three companies whose headquarters remain in Aalborg. "Together with the new shareholders, Audio Group Denmark will be run in the same spirit as 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."