AGIC Capital, together with Kirk Kapital, has completed the acquisition of PR Electronics A/S (“PR Electronics”), a leading global supplier of signal conditioning devices in the process and factory automation industry.
PR Electronics specializes in the design, development, and manufacturing of high-quality signal conditioning devices. With eight sales subsidiaries and over 40 distributors, it serves a global customer base of more than 10,000 clients. In 2022, PR Electronics generated revenue of DKK 437 million and EBITDA of DKK 106 million. The company’s headquarters and production facilities are located in Rønde, Denmark.
Founded in 1974 by Peter Rasmussen, PR Electronics was later owned and led by his son, Kim Rasmussen, who took over as CEO in 2009. In 2022, Simon Bisbo succeeded Kim Rasmussen as CEO. Following the acquisition, select members of management, including former CEO Kim Rasmussen, will reinvest in the company.
Ben Mitchell, Managing Director of AGIC, is looking forward to the partnership with PR Electronics.
“The need for making industrial process control safer, more reliable, and more efficient will only grow globally in the coming years. With a strong management team and world-class products, PR Electronics is uniquely positioned to be the partner of choice for the process and automatisation industry,” says Ben Mitchell, Managing Director of AGIC.
“PR Electronics has a long history as a family-owned company, very similar to our own heritage at Kirk Kapital. We are pleased to form a partnership with Kim Rasmussen, management and AGIC. Jointly, we will seek to further accelerate the successful development of PR electronics in the years to come,” says Kim Gulstad, CEO of Kirk Kapital.
The entire executive management team of PR Electronics will continue their current roles in the company and is also looking forward to further accelerating the growth and successful development of the company in the years to come.
Simon Bisbo, CEO of PR Electronics, says, “The activity in PR electronics is record high. I look forward to further accelerating the growth and successful development of PR Electronics in the years to come. With the new ownership, PR Electronics is better positioned also to pursue growth through acquisitions. We have found the ideal partners to support management and PR electronics going forward.”
Kim Rasmussen is pleased to pass on the baton. He says, “PR electronics has been a part of my life since I was a child. I am immensely proud of what we have all created since the foundation in 1974. However, the time has now come where I believe PR Electronics is best served with new ownership. Kirk Kapital and AGIC are, in combination, a great future ownership constellation for PR electronics. I will, however, remain shareholder and will with pride follow also the future successful development of PR electronics.”
About PR Electronics
PR Electronics designs and produces signal conditioning (interface) devices for the process industry within temperature, I.S. interfaces, panel meters, signal isolators and converters. Our integrated development and manufacturing campus is located in Rønde near Aarhus, Denmark. We sell our products globally through 8 sales subsidiaries and more than 40 distributors worldwide. We take great pride in seeing high-precision technology – produced in Denmark – integrated into process control applications, benefitting more than 10,000 customers worldwide. See www.prelectronics.com.
About Kirk Kapital
Kirk Kapital is a family-owned investment company owned by the Kirk Johansen family. The Kirk Johansen family are descendants of Ole Kirk Christiansen, who established LEGO. Kirk Kapital manages approx. DKK 14bn in AUM invested within strategic investments and financial investments. Within the strategic investments, Kirk Kapital is an active long-term owner with larger minority positions in 17 companies. See www.kirkkapital.dk.