Witham, England, Apr. 16--Junckers Industrier A/S, Europe's leading producer of solid hardwood flooring products, has been bought by Axcel, a leading Danish investment company with a capital commitment of 0.5 billion Euros.
Junckers joins Axcel's international portfolio which specialises in competitive medium/large sized companies holding potential for improvement and value creation.
As background to the investment in Junckers, Axcel's CEO, Christian Frigast, says, "We have in-depth knowledge of the wood and building industry gained through former and present investments and we have been following developments at Junckers closely over a long period. With a strong product range, an excellent market position and a very loyal and competent staff, Junckers is basically a strong, healthy company with potential for growth. However, over a number of years the company has been burdened with a significant debt load--primarily due to activities which are now closed down or sold. With the new capital and owner structure Junckers now has a healthy basis for profitable growth."
John Woolmore, Managing Director of Junckers Ltd (a wholly owned subsidiary of Junckers Industrier A/S) comments, "We are absolutely delighted that our parent has been bought by Axcel, which is a dynamic company with a very successful track record. All sorts of rumours about Junckers have been in circulation in the flooring market over recent months and I am glad that we are now able to put these into their proper perspective: The intrinsic values and strengths of Junckers in combination with Axcel's acumen should make for an unbeatable combination."
