Nowocoat Industrial A/S

Waterland Private Equity invests in Nowocoat, which provides functional coating products and solutions with a strong sustainability profile for professional roof contractors, industrial customers and builders’ merchants.


At Nowocoat’s modern production facilities in Kolding and Falun, approximately 60 experienced employees develop and produce bespoke coating solutions in close collaboration with customers. Around 80% of revenue derives from sales of sustainable and water-based products, which prolong the lifespan of coated materials and ensure a much better working environment during the production process. The innovative products reduce CO2 emissions by lowering the energy consumption related to roof painting, coating of wooden floors and furniture as well as in connection with coating of industrial components.


After generating organic growth around 18% in 2018-2020, Nowocoat lifted revenue to around DKK 200 million in 2021. The development reflects general progress in sales to professionals, industrial customers and retailers. This progress was further strengthened in 2021 with the acquisition of Swedish AB Rötmotaverken with a production facility in Falun as well as a positive contribution from a significant contract for do-it-yourself products in the retail segment. In 2019, Nowocoat expanded the business through the acquisition and integration of Danish Lurrell Industries A/S, which provides products for industrial coating of wooden furniture.


”We have created a strong and profitable business by drawing on our year-long experience and unique technical competencies as we set new standards in the industry by developing sustainable quality solutions and products in close cooperation with our customers. At Nowocoat, we have always been passionate geeks with paint and varnish in our veins and a sharp focus on innovation and sustainability. We are pleased to welcome Waterland who share our perspective on the great opportunities in the market and will contribute with valuable competencies and capital to our development going forward,” says Ole E. Jensen, CEO of Nowocoat.


In the coming period, Nowocoat will expand its strong market position in the Nordics and build its international business. The continued progress will be ensured based on the well-invested production platform and by expanding the company’s roof paint solutions to adjacent markets in Europe, strengthening sales to existing and new industrial customers in Asia – where COVID-19 has temporarily curbed activity – and lifting sales through builders’ merchant chains and retailers across markets.


“We look forward to entering into a close partnership with the management and employees of Nowocoat, which is a well-run and well-invested company with great growth and development potential in a fast-paced market. We will cooperate to accelerate the expansion of Nowocoat’s sustainable solutions, which are sought after by customers because they are environmentally friendly and prolong the lifespan of building materials. We see great opportunities for accelerating growth by continuing the positive development of Nowocoat and expanding the business through targeted acquisitions,” says Kaspar Kristiansen, Managing Director Nordics, Waterland Private Equity.


Nowocoat’s management continues and will invest in the company alongside the current owners and Waterland, which becomes a majority shareholder with an ownership of 85%. The parties have agreed not to disclose the purchase price.


For additional information, please contact:

Nowocoat - Ole E. Jensen, CEO
Tlf. +45 30 30 32 34


Waterland - Kaspar Kristiansen, Managing Director
Tlf. +45 21 28 22 44


About Nowocoat

Nowocoat provides innovative, sustainable and functional high-performance coating products and solutions for professionals and industrial customers as well as builders’ merchants and other retailers. The company has 60 employees and was founded in 2014 with roots back to 1861. The coating products for roof painting, metal surfaces and wooden floors and furniture are manufactured at Nowocoat’s production facilities in Kolding and Falun, Sweden. Nowocoat is certified in accordance with ISO 14001 (environmental management) and has obtained DNV’s Sustainable Development Goal certification as the first and only Danish coating manufacturer, and around 80% of the company’s revenue derives from sales of sustainable and water-based products.


www.nowocoat.dk


About Waterland

Nowocoat provides innovative, sustainable and functional high-performance coating products and solutions for professionals and industrial customers as well as builders’ merchants and other retailers. The company has 60 employees and was founded in 2014 with roots back to 1861. The coating products for roof painting, metal surfaces and wooden floors and furniture are manufactured at Nowocoat’s production facilities in Kolding and Falun, Sweden. Nowocoat is certified in accordance with ISO 14001 (environmental management) and has obtained DNV’s Sustainable Development Goal certification as the first and only Danish coating manufacturer, and around 80% of the company’s revenue derives from sales of sustainable and water-based products.


www.waterland.dk