Clearwater International has advised the owners of MM Composite, a global provider of high quality composite components, on its sale to NASDAQ-listed SP Group.
Founded in 2011, MM Composite is a specialist composite manufacturer that develops and sells high quality composite components for the global wind turbine industry. The company has over 30 years of experience and a continuously close collaboration with its clients globally.
The acquirer SP Group, is a leading supplier of plastic manufactured products and has significant exports and production from its factories abroad. SP Group has subsidiaries in across Europe, the US and Asia. The company is listed on the NASDAQ OMX Copenhagen and has approximately 1,500 employees.
The Clearwater International team was led by Partner John Jensen and Associate Partner Carsten Rydahl, with support from Senior Associate Mads Højdahl Kristensen.
“I am looking forward together with the employees in MM Composite to becoming part of a big and very competitive group. Together we can make even better solutions with and for the customers. Mogens Marxen and I have decided to sell to SP Group as we are convinced that it will be the best long-term solution for the customers, the employees and MM Composite.”
Kent Bøllingtoft Madsen, Director and co-owner, MM Composite
“The acquisition of MM Composite accelerates the growth in SP Group. We take over a well-running and well-positioned company and are fully convinced that we together will profit from our experience on both sides within R & D, production and sales to strengthen our competitive position and to create an even stronger position globally.”
Frank Gad, Chief Executive Officer, SP Group
“As the global wind market shows healthy growth rates, suppliers continue to consolidate in order to boost competitiveness and strengthen the global footprint. The sale of MM Composite to SP Group is a great example of two successful companies joining forces to better service their customers, while fending off new potential competitors.”
Carsten Rydahl, Associate Partner, Clearwater International