2005-2015: Bigger and stronger businesses

With the acquisition of BioMar in 2005, the Schouw & Co. portfolio had gained a satisfactory size. The group’s strategy then shifted from the intention to build a larger portfolio to creating larger and stronger businesses. This change of direction also made Schouw & Co. a more focused conglomerate because it began to make appropriate divestments.

During this period, Schouw & Co. has created value and growth through active ownership.




2006 Divesting the packaging activities

In the autumn of 2006, Schouw & Co. sold its 50% stake in the packaging companies Elopak Denmark A/S and Elopak AB to the owners of the other 50%, Norwegian company Elopak AS, closing a 129-year chapter for Schouw & Co. as a producer of packaging.

The sale was a natural move in the growing internationalisation of the industry, as having a single owner would improve the company's development potential

2007 Add-on acquisition for BioMar (Provimi)

In November 2007, BioMar acquired Provimi's fish feed operations in Chile, Denmark and Spain. Through the acquisition, BioMar substantially upsized its assortment of complementary products across fish species, life cycles and feed strategies. 

The acquisition confirmed BioMar's position as the world’s third-largest manufacturer of quality feed for the fish farming industry

2008 Merger of BioMar Holding and Schouw & Co.

In April 2008, Schouw & Co. obtained full ownership of BioMar by merging BioMar Holding A/S and the parent company Schouw & Co.

As part of the merger, Schouw & Co. issued bonus shares to existing shareholders at a ratio of one new share for every share held, and one share in BioMar Holding was exchanged for a share in Schouw & Co

2009 Demerger of P. Grene

Hydra-Grene A/S was spun off from P. Grene A/S with accounting effect from January 1, 2009. 

The purpose was to ensure the continual development of both Grene and Hydra-Grene and enable both companies to expand their respective positions as a leading supplier of spare parts and accessories for the agricultural sector and a leading supplier of hydraulics and related services to agriculture and industry

2010 Sale of Sjøtroll

In September 2010, BioMar signed an agreement to divest its 51% ownership interest in the Norwegian fish farming business Sjøtroll Havbruk.

BioMar had become a co-owner and shareholder of Sjøtroll in 2004 as part of a refinancing solution and achieved a return on its investment of about 17% per annum

2011 Demerger of Fibertex

In many ways, Fibertex Personal Care and Fibertex Nonwovens are two very different businesses; physically, they had been operating separately for several years. In order to ensure that both businesses could develop to their full potential, the natural next step was for Fibertex to demerge.

The Personal Care operations were hived off into a separate company under the direct ownership of Schouw & Co. effective at the turn of the year 2010/2011, while the industrial activities remained in the existing company and continued operating under the name of Fibertex Nonwovens A/S. 


2011 Add-on acquisition for Fibertex Nonwovens

In March 2011, Fibertex Nonwovens agreed to acquire 85% of the shares in the French nonwovens manufacturer Tharreau Industries.

The acquisition strengthened Fibertex Nonwovens' platform, especially as a supplier to the auto industry, and gave the company an optimal geographical presence, with European production facilities in the Czech Republic, Denmark and France. The transaction almost doubled Fibertex Nonwovens' revenue.

The remaining 15% of the shares were acquired in 2012, and the French business became a wholly owned subsidiary of Fibertex Nonwovens.


2012 Martin Professional divested

Toward the end of 2012, Schouw sold Martin Professional, the world's leading manufacturer of intelligent stage lighting, to Harman of the United States.

In 2009, the economic crisis affected Martin serverely, but after an extensive realignment of its business model and substantial investments in innovation and product development, the company had, by the time it was sold, built a very strong platform on which to develop further. This was one of the things that convinced Harman to value Martin at a very sizeable amount.

Selling Martin made perfect sense and it highlighted Schouw & Co.'s strategy that, if Schouw is no longer “the best owner” of a portfolio company, then that company is divested.


2013 Merger of Grene and Kramp

In 2013, Grene joined forces with its Dutch peer Kramp to become Europe's largest supplier and distributor to the agricultural sector.

Schouw & Co. has retained its long-standing involvement in the sector, maintaining a 20% shareholding interest in the combined company.


2013 Selling the rest of the shares in Vestas

At the end of 2013, Schouw & Co. sold its remaining shares in Vestas after having been an investor in the wind turbine industry since 1994, when the company became a shareholder of Micon. 

Schouw & Co.'s total investment in the wind turbine industry has produced an overall return of DKK 1,785 million, equal to an annualised internal rate of return of 27%.


2014-15 More Fibertex acquisitions

In October 2014, Fibertex Personal Care obtained full ownership of the German printing business Innowo Print AG, which Fibertex Personal Care had been 15% co-owner of since 2007.

In October 2014, Fibertex Nonwovens acquired US nonwovens company Non Wovens Solutions LLC and thereby ensured a strong geografical presence in North America.

In October 2015, Fibertex Nonwovens also bought the nonwoven activities from the Turkish manufacturer Ribatek. With the acquistion, Fibertex Nonwovens was ensured a strong production platform within spunlacing technology and a strengthened access to the important Turkish market and the surrounding region.


2015 Hydraulics acquision

At the end of 2015, Hydra-Grene acquired the Swedish hydraulics business, Specma AB, which in many ways complemented the existing activities, both in terms of products and geographically.

As a consequence of the acquisition, revenue regarding hydraulics was almost trebled, and the aggregate market position in the Nordics was substanstially strengthened. Simultaneously, the possibility of serving large international customers was also significantly strenghtened.