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Axcel sells Tytex Group A/S to Jacob Holm & Sonner A/S.

NORDIC BUSINESS REPORT-4 July 2006-Axcel sells Tytex Group A/S to Jacob Holm & Sonner A/S(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

The Danish private equity group Axcel said on Tuesday (4 July) that it has agreed to sell industrial textiles manufacturer Tytex Group A/S to Jacob Holm & Sonner A/S for an undisclosed sum.

The buyer intends to create a new company combining its special and technical applications division and Tytex.

The new company, Jacob Holm & Sons STA A/S, will have 550 employees and production in Denmark, Germany, Slovakia, Ireland and the US. Revenues are expected to exceed DKK500m.

One Danish krone (DKK) is worth approximately 0.09 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EUDE
Date:Jul 4, 2006
Words:129
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