The sale of Mountain Top Industries

"They took responsibility and helped us down to the last detail"

Mountain Top Industries in Frederikssund is one of the world's leading manufacturers of accessories for pickup trucks. In 2017, the family-owned company was partially sold to the private equity fund Axcel by married couple Marie-Louise and Lars Bjerg.

The sale was carried out with infotransactionsas advisor and partner, and several Danish and foreign buyers were in play. In the end, the choice fell on the Danish private equity fund Axcel, which has the strategic and financial muscle needed for the company to expand globally.

"It was a big decision to sell, but it was the right one for Mountain Top's further growth and development," says Lars Bjerg.

It was his father who founded Mountain Top Industries in 1951. Lars Bjerg took over in 1994, and ten years later Marie-Louise Bjerg stepped in as CEO.

"The chemistry was good, we fit into their portfolio of owner-managed businesses, and we got the attention Mountain Top deserved."
Marie-Louise and Lars Bjerg.

Mountain Top is a big part of our lives

Initially, the couple had no plans to sell the family business. After a few tough years during the financial crisis, the business had regained its footing and experienced strong growth, but inquiries from interested buyers came in regularly, and the idea of a sale began to take shape.

"It took us three years to make the final decision. We weren't in a hurry and took the time to research the process we were about to embark on. We talked to other companies, different advisors and potential buyers. Mountain Top is a big part of our lives, and we wanted full insight into what a sale entailed. So when we signed the brokerage agreement with infotransactionsand set it all in motion, we were 100% clear and have no regrets," say Lars and Marie-Louise Bjerg.

A confident partner in the sales process

The couple made it a priority to complete the sale with an advisor who would solve the entire task and ensure that Mountain Top did not just become part of the machinery of a large consulting firm.

"Through our accountant Ulrik Christensen(state authorized public accountant and partner in inforevision, ed.) we already knew the house - and they knew us - so it was natural to continue working with infotransactions. The chemistry was good, we fit into their portfolio of owner-managed companies, and we got the attention Mountain Top deserved. They took responsibility and helped us down to the last detail. There was also close collaboration across inforevisionand infotransactions, and they put us in touch with other competent advisors when needed," say Lars and Marie-Louise Bjerg.

Important to minimize pressure on management

infotransactionshas managed, facilitated and advised on the sales process and has also conducted vendor due diligence for Mountain Top Industries. All along the way, the goal has been to ensure a gentle process and minimize the burden on management.

"We went in as very active sparring partners with a focus on creating an overview and lifting a lot of concrete tasks to ease the pressure on them."
The infotransactionsteam

"Marie-Louise and Lars Bjerg had established a highly professional operation with a small, agile management team, but in a sales process, the work with sales materials is extensive. This can affect operations and earnings, so at Mountain Top we became very active sparring partners with a focus on creating an overview and taking on a lot of specific tasks to ease the pressure on them. For example, we were given access to the financial system so we could extract the necessary data ourselves," says the infotransactionsteam.

A new working life awaits

Today, the couple own 30% of Mountain Top and are active on the board, but they have nothing to do with the daily operations. The keys were finally handed over in the spring of 2018, and the couple are now in the process of establishing a new working life where their many years of practical and personal experience as owner-managers can be put to good use.

At the time of writing, the couple is working on a series of lectures and a consulting concept for owner-managers who are thinking about selling or generational change.