MBO of Covidence
London | 22 May 2015
Montagu Private Equity has announced the completion of the MBO of Covidence (the “Company”) from its founding shareholders.
Covidence is a specialist electronics manufacturer with a niche focus on miniature covert video surveillance equipment, used by police, intelligence agencies, special forces and other government approved organizations. The Company is based in Roende, Denmark, and has a global customer base, with close relationships to many of the world’s federal agencies. The company has enjoyed rapid growth since its establishment in 2007, and today enjoys a market leading position providing cutting-edge products.
Montagu has worked closely with the incumbent management team who also helped found the company. The key principals will remain with the Company, to further strengthen its position as a global market leader in its space.
Jimmi M. Hansen, CEO of Covidence, said:
“We have found in Montagu a seasoned and ambitious partner whose investment philosophy and innovative management style will allow us to accelerate our development strategy. It will benefit our customers that we can expedite cutting-edge products specially made for combatting organised crime and terror. We look forward to working with Montagu over the coming years and to further invest in and grow Covidence.”
Mads Hansen, Director at Montagu Private Equity, said:
“The founders, Jimmi M. Hansen and Henrik Klebaek, have done a remarkable job in developing unique and user-friendly technology that very quickly has established itself as the premier offering in the market. We look forward to supporting Jimmi, Henrik and the rest of the Covidence team as we take the business to the next level of its development. We see huge potential moving forward.”