Den Sociale Kapitalfond Invest and the two business partners Ole Juul Jørgensen (via the investment company Invactor) and Per Dollerup Mikkelsen have entered into an agreement with the company WaterCare and will become the new majority owners.
Behind Watercare is founder and CEO Henrik Rønnest, who over the past 20 years has built up the company WaterCare with a focus on solutions for improving the aquatic environment – in the form of products for the treatment of wastewater and surface water. Especially in recent years, the company’s development has taken shape with growth in both the top and bottom line. For this reason, Henrik has wanted to get new forces on the board and the circle of owners with a view to further development and expansion in the Nordic markets.
“For some time, I have been considering bringing new forces and impulses on board to further develop WaterCare. I have had dialogues with various partner options, but I think that the match with Den Sociale Kapitalfond Invest and the experienced business people they bring in has been just right for me and for WaterCare,” says Henrik Rønnest.
With the stronger focus on sustainability and responsibility, the partnership with Den Sociale Kapitalfond Invest is just right, he believes.
“At WaterCare, we have ambitions to become a larger company with a positive impact on the aquatic environment – but still rooted in the local environment around Assens, where we want to be able to offer more job opportunities for people with challenges, but who have the courage to contribute,” says Henrik Rønnest.
WaterCare is a specialist in filtration and management of wastewater and surface water, but also offers solutions for aquatic filtration of phosphorus and heavy metals for e.g. agriculture, urban areas and other industries, as well as solutions for rainwater recycling for use in toilet flushing, laundry, garden irrigation, etc. WaterCare’s solutions thus contribute to a cleaner aquatic environment and better utilisation of our water resources:
“We are looking forward to working together on the development and marketing of the products in the Nordic markets. At the same time, we will support Henrik Rønnest and the rest of the management team in taking an even greater social responsibility, including in terms of developing on the full ESG palette and standing even stronger as the impact company that WaterCare is,” says Investment Director at Den Sociale Kapitalfond Invest, Ziad Sbeinati.
The business partnership with Ole Juul Jørgensen and Per Dollerup Mikkelsen is an ingrained part of Den Sociale Kapitalfond Invest’s investment processes, where the private equity craftsmanship from the fund is supplemented with industry-specific co-investors and board candidates.
“The market for innovative products to solve the challenges of handling and purifying surface water and wastewater is growing rapidly. WaterCare has created a strong position in the Danish market, and I see growth potentials in the Nordic region as well as in nearby product areas in the Danish market, e.g. purification of phosphorus and heavy metals in agriculture, urban environments or other industries,” says Per Dollerup Mikkelsen, who has experience from similar companies in the climate, environment and water sectors.
In the process, WaterCare has been advised by the law firm Andersen Partners, while Den Sociale Kapitalfond Invest has collaborated with DAHL Advokatpartnerselskab and EY. The parties agree not to disclose the transaction price.
More about WaterCare ApS
WaterCare is a Danish manufacturing company that offers innovative and quality-conscious solutions and products for surface and wastewater management, mainly sold to the Danish market, but with growth plans in the Nordic region.
The WaterCare Group consists of WaterCare ApS, WaterCare Filtration A/S and Tank System Denmark ApS, which together support the company’s production and sales initiatives across the product areas.
The company’s main products are filtration and handling of wastewater and surface water (three-chamber tanks, pump wells, separators, etc.), but also offers solutions for aquatic filtration of phosphorus and heavy metals for e.g. agriculture, urban areas and other industries. WaterCare’s solutions thus help us all to have a cleaner aquatic environment and to better utilisation of our water resources.
From the factory in Assens, tanks, pump wells, rainwater systems and percolation systems are produced for distribution via wholesale networks, through contractors and to a large network of local sewer masters.
WaterCare was established in 2001 by Henrik Rønnest with a clear mission to improve the aquatic environment in harbours, lakes and streams. The company’s ability to think innovatively in water purification solutions has excelled on several occasions and was exemplified, for example, by the company’s solution in 2018 of a large-scale wastewater treatment plant in Ørestaden, Copenhagen, in collaboration with HOFOR and the University of Copenhagen.
WaterCare has a gross profit of around DKK 23 million annually and has approximately 30 employees (FTE).