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Støtek is primed for future growth

Støtek is primed for future growth

 

Støtek sells a minority stake to the investment company Industri Udvikling. The goal has been to find a partner to continue the company's global growth and development, benefitting customers in the automotive industry.

Effective July 2nd, Støtek has sold a minority stake to the investment company Industri Udvikling (Industrial Development) for an undisclosed amount. Hans Henrik Würtz, Owner and CEO, remains the majority stockholder of the company. The deal will enable Støtek to continue the growth in the companies in Europe and the USA. Furthermore, Støtek plans to expand in Asia, where significant growth is expected in the future.

“In connection with our strategy to strengthen our presence in Asia, we wanted to get a partner on board who had experience with internationalization and was interested in playing an active role in the development of our company. We have had discussions with several investors, but in the end, we chose Industri Udvikling. With the sale of a minority stake, we can continue our development to become one of the world’s leading suppliers of aluminum melting, holding, and dosing furnaces to the leading car manufacturers and their sub-suppliers,”  says Hans Henrik Würtz, CEO at Støtek.

Dan Højgaard Jensen, CEO of Industri Udvikling, says: “We see Støtek as an incredibly well-run company with great potential and we hope to contribute to the continued development in e.g. China. Hans Henrik and his team have high ambitions and provide good products and services to customers in the automotive industry all over the world. We are very much looking forward to our co-operation.”

“Having Industri Udvikling as a partner will enable us to take advantage of Støtek's full potential with a stronger presence in Asia, and Industri Udvikling will also provide strategic assistance within the organization, which will be a new exciting journey for us,” says Hans Henrik Würtz, CEO at Støtek.

Støtek is a strong, expansive internationally well-known manufacturer of energy-efficient melting, holding, and dosing furnaces for aluminum. Støtek’s furnaces are exported worldwide, and the customers are primarily within the automotive industry. The customers include VW, AUDI, BMW, CHRYSLER, the world’s largest electrical car manufacturer, and their sub-suppliers. Støtek is headquartered in Vojens, and the subsidiary company is located in the USA. Støtek is ISO 9001 certified and employs a total of approx. 65 people.

Since its establishment in 1994, Industri Udvikling has specialized in minority investments in small and medium-sized Danish manufacturers with significant growth potential.

For questions please contact:

Hans Henrik Würtz, CEO, Støtek - phone no.: +45 40722870
Dan Højgaard Jensen, CEO, Industri Udvikling: phone no.: + 45 23327650

 

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