After eight years, Bent Sørensen, the founder of Danish wind supplier Hydratech Industries, is selling the remainder of his life's work to investment firm BWB Partners, reports Danish business daily Børsen. Over the last five years, the company has experienced a total loss of DKK 230 million (EUR 30.9 million).
At BWB Partners, which has been the main shareholder in Hydratech since 2008, partner Esben Bay Jørgensen believes that it is a natural step to buy the founder out of the wind supplier and strengthen management of the company, including by installing the former SAS CEO John Dueholm as the new chairman.
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