Under the agreement, which was signed December 31, 2019, Verdane assumes a majority shareholder position in the privately held corporation. Danelec’s existing shareholders will continue to own shares in the company, and the management team, including CEO Hans Ottosen and COO Casper Jensen, will continue in their positions.Danelec is headquartered in Denmark and has branch offices in China and Singapore, plus a worldwide network of distribution and service partners in more than 50 countries. The company has experienced intensive growth with strong commercial traction. Product lines include Voyage Data Recorders (VDRs), Electronic Chart Display and Information Systems (ECDIS) and ship-to-shore Internet of Things (IoT) solutions.
“Danelec Marine has been a pioneer in creating an integrated product-service approach that is without precedent in the maritime industry, and the company is well positioned to capture a large share of the emerging ship-shore IoT marketplace,” said Arne Handeland, Partner and responsible for the investment at Verdane.“Verdane has an impressive track record of supporting growth for tech companies and extensive experience in the maritime sector,” said Ottosen. “They will be excellent investment partners who will help us accelerate organic and acquisition growth opportunities in existing and new technologies,” said Ottosen.