Abacus Medicine welcomes investment company Chr. Augustinus Fabrikker as strategic shareholder
Flemming Wagner continues as CEO and majority shareholder
02 September 2019
Today, Abacus Medicine has laid the financial foundation for the company’s continued growth. The investment company Chr. Augustinus Fabrikker joins the owner circle with an investment of EUR 48 million. In this way, the company secures additional capital for investments in, among other things, increased purchasing capacity, new product licenses and a focused, global expansion.
Flemming Wagner, CEO and founder of Abacus Medicine, says: “Abacus Medicine has delivered high growth year after year, and we have ambitions for even more. That is why we have been looking for the right, long-term partner to provide us with additional capital. We have found that now, and I look forward to the cooperation. Chr. Augustinus Fabrikker represents an invaluable experience that will strengthen us in our efforts to develop Abacus Medicine into a global company. ”
Claus Gregersen, CEO of Chr. Augustinus Fabrikker, elaborates: “With the strategic ownership, Chr. Augustinus Fabrikker is now an active partner in one of the most exciting new growth stories in the Danish business community. We have been following Abacus Medicine for a long time and believe that the company holds an even greater potential that we look forward to realizing in loyal cooperation with the management. We can all enjoy that Abacus Medicine contributes positively to ensuring cheaper medicines for patients in most of the EU. We see ourselves as a long-term co-owner, and look forward to working with Flemming Wagner and the many talented employees in the organization. ”
Chr. Augustinus Fabrikker acquires an ownership stake of just over one third following the issuance of new shares in Abacus Medicine. Flemming Wagner continues as the company’s CEO and majority shareholder. In addition, a larger group of employees are also co-owners of Abacus Medicine.
The agreement is contingent upon the Danish and German competition authorities’ expected approval.
About Chr. Augustinus Fabrikker
Chr. Augustinus Fabrikker is an investment company with extensive interests in Danish business. As part of a strategy to be a long-term, committed and value-adding owner, the company’s portfolio holds major ownership interests in successful and iconic Danish companies such as Tivoli, Jeudan, Royal Unibrew, STG, the furniture companies Fritz Hansen and GUBI as well as Gyldendal and Gabriel.
With a balance of DKK 29 billion, the Augustinus Group is a significant player in the Danish business community. The company is working purposefully on a strategy to actively reinvest a large part of the current returns in promising Danish companies. Chr. Augustinus Fabrikker is a subsidiary of the Augustinus Foundation, which is among the largest cultural funds in Denmark. The industrial heritage is Denmark’s first tobacco spinning mill founded in 1750 in Copenhagen.
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