LOGSTOR is the world's leading manufacturer of complete pre-insulated pipe systems for transportation of gases and liquids to the district heating and cooling, oil and gas, marine and industrial sectors. The Company sells its products globally in a market where rising energy prices are increasing the importance of efficient, energy-saving products and transport solutions. LOGSTOR was formed through the merger of Løgstør Rør A/S and Alstom Power FlowSystems A/S in August 2005.

Montagu Private Equity has agreed to acquire LOGSTOR for an undisclosed amount from its current owners Axcel, Polaris and FIH. The acquisition has been made in partnership with the Company's incumbent management team. Preben Tolstrup will continue as CEO of LOGSTOR and Ole Andersen as Chairman of the Board. 

The Company has sales of €250 million in approximately 50 countries, EBITDA of more than €25 million and is headquartered in Løgstør, Denmark. It has 1,300 employees in eight European production facilities and eleven sales offices. In addition, it has distributors in 28 countries and joint ventures in Korea and China. 

"LOGSTOR fits well into Montagu's strategy of investing in high-quality companies with strong, long-term customer relationships and outstanding management teams" said Matt Lyons, Director at Montagu Private Equity.

Preben Tolstrup, CEO of LOGSTOR commented "The management team has had a very constructive cooperation with the current owners and are proud of the achievements made over the last years. However, we are pleased that the deal with Montagu is now concluded. We are convinced that Montagu's financial resources and expertise will help us to take the Company to the next stage of its development and are delighted to have their support".

"We are pleased to have participated in the successful industrial development of LOGSTOR. During our co-ownership the Company has consolidated the industry and created a Danish-based market leader within pre-insulated pipes in line with our original strategy for the investment. LOGSTOR has developed positively and we are confident that this development will continue under the new ownership. We are very pleased with our investment in the Company" said Christian Frigast, Managing Partner of Axcel and Viggo Nedergaard Jensen, Managing Partner of Polaris in a joint statement. 

The investment in LOGSTOR is Montagu's third transaction in the Nordic region in the last year, following the strengthening of its Nordic team with the appointment of Matt Lyons and Peter Dahlberg. In 2005 Montagu divested Finnish Chemicals to Kemira for €345 million and acquired VetXX from Danish pharmaceutical company Leo Pharma.

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