Viegand Maagøe a finalist in EY Entrepreneur of the Year (DK)

Lately, our work with climate change mitigation has been getting more attention. The green transition is and should be at the top of the world’s agenda, and this year we mad the finals for the EY Entrepreneur of the Year in Sustainability.

Even though we did not win, we are proud to have been selected – especially because EY recognizes not just growth but entrepreneurship that creates long term value with a positive impact on the world. This is in sync with our ambition to continue our focus on advising about sustainability and ESG.

Some of our latest and most noteworthy projects are Klimaklar SMV, preparing the Confederation of Danish Industry’s annual summit, and working with the electrification of the food industry. This increased attention has resulted in the rapid growth of our company; just this year, we have welcomed more than 35 new colleagues.

What is EY Entrepreneur of the Year?

EY describes the award as

a unique global programme that recognises entrepreneurial achievement among individuals and companies that demonstrate vision, leadership and success — and work to improve the quality of life in their communities, countries and around the world.

Integral to the award is the focus on more than just the financial bottom line, as the entrepreneur’s actions are assessed as well. Internal values, visionary management, and social engagement are all part of the evaluation.

The award show for 2022 took place on November 24th in Copenhagen.

Viegand Maagøe gets more muscle with Danish private equity fund as new active co-owner

viegand maagøe og partner

Today we welcome Dansk Ejerkapital as a new active co-owner. The ambition is, together with Dansk Ejerkapital, to develop Viegand Maagøe A/S into Northern Europe’s leading advisor within sustainability.

Sometimes you are allowed to choose the best partner. We have had the opportunity to do this with a new active investor in the form of Dansk Ejerkapital, which now owns 49 per cent of Viegand Maagøe. In addition, seven senior executives, including CEO Søren Eriksen, will join as partners. The founders of Viegand Maagøe, Jan Viegand and Peter Maagøe, have reduced their ownership accordingly.

The ambitions are high for the new collaboration that will create Northern Europe’s leading consulting house with a focus on sustainability and ESG (environmental, social and governmental factors in business operations).

Frederik Aackermann, partner in Dansk Ejerkapital, says:

’We have had a dialogue with Viegand Maagøe for a long time to make sure that we found the perfect match. This applies to employees, management teams and the right culture. This also applies to a large extent to services and potentials with both sustainability and ESG, which create value for the business and for society. We are happy to have found this with Viegand Maagøe, and we look forward to working with them.’

The new collaboration comes after five years with high growth rates for Viegand Maagøe and with a 2021 as a new record year.

Søren Eriksen, CEO and partner of Viegand Maagøe says:

’We are very proud to have Dansk Ejerkapital as a minority owner. Firstly, they are by far Denmark’s most experienced investors in SMEs, which we look forward to benefiting from. Secondly, they are very ambitious in the field of sustainability and ESG – both for us and their other companies. Thirdly, they buy in to our main driving force: Our very talented employees and value-based culture,’ he says.

Stronger position with a broader ownership structure

Jan Viegand and Peter Maagøe now have a smaller ownership share. They both believe that the company will stand stronger than ever before while ensuring a generational change in due time.

’Peter and I want to secure the company and the employees in good time for the future. We have had a dialogue with several interested buyers over the last few years, and this has sharpened our criteria for what we believe is the best solution for the company. Dansk Ejerkapital has a slightly longer time perspective than others, and that is important. Just as they have bought into our talented employees and value-based culture, which is absolutely crucial to our success today,’ Jan Viegand says.

Viegand Maagøe comes out of 2021 with a revenue growth of 26 per cent and with 25 new employees hired during the last year.

In parallel with the investment from Dansk Ejerkapital, seven senior executives have now become partners:Søren Eriksen, Marianne Hartz Thomas, Carsten Glenting, Fridolin Müller Holm, Christian Jensen, Mette Rames and Bjarne Bach.

About Viegand Maagoe

Viegand Maagøe are consultants within energy optimization, green conversion, sustainability and ESG for private companies and the public sector in Denmark, the EU and the rest of the world.

  • Gross profit 2021: DKK 48 million. kr.
  • Profit after tax 2021: DKK 6 million. kr.
  • 40% of the assignments are international
  • Approx. 75 employees.

About Dansk Ejerkapital

With 27 years in the industry and more than 145 investments in small and medium-sized companies, Dansk Ejerkapital is one of Denmark’s oldest and most experienced private equity funds. We always invest as a minority investor, and our advice and contributions are based on the company’s and owners’ DNA and values. We develop the companies in close collaboration with the owners and management in a number of different niches within technology, production, trade and service, and often with elements of management buy-out, incipient generational change or acquisitions and integration.

The Danish Government Praises Green Transition of the Food and Beverage Industry

Elektrificering af Fødevareindustrien konference

This Tuesday the first results from the project “Electrification of the food and beverage industry” was presented at an opening conference in Copenhagen. The Danish Minister of Food, Agriculture, and Fisheries was present at the conference hosted by the Confederation of Danish Industry, and he showed great excitement for the project.

The project “Electrification of the food and beverage industry” revolves around a partnership consisting of The Danish Food and Drink Federation, The Danish Energy Industries Federation, The Danish Agriculture & Food Council, Danish Energy, Technical University of Denmark, and Viegand Maagøe.

The project is financially supported by the Danish Industry Foundation. Based on 20 concrete cases from selected Danish food companies the project will illustrate how industrial processes can be converted from fossil fuels to electricity.

The project is built around four themes, which will be illustrated through a number of companies. The first theme is “drying and evaporation processes”.

Earlier this year the project was launched, and this Tuesday, a large number of Danish food companies were invited to the opening conference to learn about how to electrify their production equipment.

After six months of analyzes and company visits, the project partners were able to show how electrification of the food industry can reduce 2 % of the CO2 emissions in Denmark.

“The analyzes from the companies show interesting potential based on general investment principles. At the same time, it also reduces CO2 emissions significantly,” said CEO at Viegand Maagøe Søren Eriksen from the stage at the Confederation of Danish Industry.

Electrification of production processes supports the green transition of the food and beverage industry. Conclusively, the project strengths the Danish competitive position and promotes the Danish export of green products, technologies, and solutions. Calculations from DTU show that 97 % of all processes and energy use in the food industry can be converted to electricity.

Positive reactions from the Danish Government

The Minister of Food, Agriculture, and Fisheries, Mogens Jensen, was present at the conference to gather inspiration for the Danish Government’s work with green transformation within the industry. He was very excited about the good work in the participating companies.

“The Danish food industry has put a lot of effort and energy into the project. A characteristic of the sector is that you work hard to find solutions, when you face challenges”, Mogens Jensen said.

The companies shared their experiences

The companies represented in the first theme are Lactosan, KMC, Arla Foods Ingredients, TripleNine, and CP Kelco. Three of the companies traveled to Copenhagen to discuss their experiences on the stage.

“It is very important for CP Kelco to contribute to the green transition. Focus on sustainable production is important for our competitiveness. Also, the transition from natural gas to green electricity is a way for us to do it,” says Jørn Stryger, Factory Director at CP Kelco.

At Arla Foods Ingredients they also look positively at the possibility of replacing fossil fuels with green electricity.

“Electrification and optimization are among the most important tools to achieve our goals, and this project could very well be a solution for us,” stated Mogens Bøgh Pedersen, Factory Director at Arla Foods Ingredients.

More than 50 % of the energy consumption in the Danish food and beverage industry is based on fossil fuels.

Many industrial processes can be converted from fossil fuels to electricity and thus simultaneously reduce the energy consumption and displace large quantities of CO2 emissions. A decarbonization by electrification in Denmark will be possible since the plan is to base the power production 100 % on non-fossil fuels in the future.

The project “Electrification of the food and beverage industry” can accelerate the green transition of the industry that shows a significant potential. The project partners are The Danish Food and Drink Federation, The Danish Energy Industries Federation, The Danish Agriculture & Food Council, Danish Energy, Technical University of Denmark, and Viegand Maagøe. The project is financially supported by the Danish Industry Foundation.