Danish firm Nowocoat is continuing its growth and has increased its turnover by more than 50 percent and DKK 70 million after acquisitions in Sweden.
Danish, family-owned paint and lacquer manufacturer Nowocoat Industrial A/S is continuing its massive growth and has already reached a turnover more than DKK 220 million this year. The background for this development is an aggressive marketing strategy based on high quality, service, and patented, environmentally friendly and sustainable products. An additional acquisition will be announced shortly.
After intense negotiations over the summer, Swedish paint and varnish factory AB Rötmotaverken is now part of Danish growth company Nowocoat Industrial A/S, which is based in Kolding. Nowocoat is thus cementing its growth strategy and has already reached a turnover of DKK 220 million in 2021, just seven years after the company’s establishment.
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“From the beginning, we have focused on growth and earnings,” says Ole E. Jensen, CEO of Nowocoat Industrial A/S, announcing another acquisition in 2021, which will increase total revenue to DKK 350 million in 2022. “We have a healthy business with available capacity and finances that give us good business opportunities. We will use this to our advantage when the opportunity arises,” Ole E. Jensen states.
Nowocoat Industrial A/S will provide AB Rötmotaverken with more and new resources in the form of know-how, investments and synergies. The company will continue to operate at its current address in Sweden, and AB Rötmotaverken’s CEO, Conny Alfsson, will continue to be responsible for day- to-day operations, sales and development.
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