"You have to kiss a lot of frogs before finding a prince"

Danfoss is running around the swamp kissing frogs in its effort to find the perfect acquisition. But whereas the target used to be buying market shares, the focus has now shifted to technology and growth platforms, according to the group's CEO.

Photo: Carsten Andreasen

Denmark's Danfoss just exited 2016 with its best financial report ever. Part of the explanation lies in the acquisitions made by the company during 2016, and the group CEO is now puckering up to find the next perfect candidate.

During 2016, Danfoss purchased the company Sondex, which produces heat exchangers, and hydraulics expert, White Drive Products. However, Niels B. Christiansen is quick to point out that debt came to DKK 9.5 billion (EUR 1.3 billion) entering 2016, and it remained at this level when the year ended. As such, the two acquisitions were funded by operations, he says.

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