Technodan Industrial Controls A/S and JE-elkas A/S have merged

Technodan Industrial Controls A/S and JE-elkas A/S have merged

Technodan Industrial Controls A/S and JE-elkas A/S have merged on august 1., to
create Denmark’s most innovative Automation business, seeking a solid platform
for in-creased growth, benefiting customers, employees and owners.

Owners and management behind Technodan Industrial Controls A/S and JE-elkas A/S
have, after thorough considerations, decided to merge the two companies and create
tic elkas A/S.
As of August 1. the two companies are owned by tic elkas Holding A/S, with each
of the 4 owners Torben Kjergaard Madsen, Jørgen Clausen, Flemming Egebjerg and
Frank Müntzberg owning 25% of the Holding company. With tic elkas we are creating
a “new” company with approximately 150 employees and a yearly turnover of approximately 180 MDKK.
The company will operate from the following locations:

Støvring, DK
Randers, DK
Skovlunde, DK
Herlev, DK
Kaunas, LT

tic elkas will invest further in the organization, our employees and digital tools to ensure
continual growth of our competitiveness. Thus we will grow by being an attractive
company for both current and potential new customers and other business partners.
The management will consist of Frank Müntzberg (CEO) and Torben Kjergaard Madsen
(COO). A new common management group will be established, to ensure the execution
of the merger and coordinate the day-to-day operations, to ensure the best
process for all parties.
The merger is expected to be completed at the end of 2019. Until then the companies
will operate unchanged under the current VAT(CVR) numbers and their existing management,
and all agreements continue unchanged.

Best regards
Torben Kjergaard Madsen Flemming Egebjerg Jørgen Clausen Frank Müntzberg