APX10, a SaaS company based in Denmark that helps wastewater utilities integrate big data analytics to digitize operational and strategic decision-making processes, announced it was acquired by Cimbria Nord – the Nordic affiliate of United States-based private equity investment firm, Cimbria Capital.
Cimbria acquired APX10 from Hedelskabet, a 154-year-old organization and one of Denmark’s most renown and respected firms in resilient green business innovation, nature management, and climate change solutions. Brian V. Iversen, Founder and Managing Partner of Cimbria Nord and Cimbria Capital, led the investment efforts with APX10’s and Hedelskabet’s executive management with the purpose of securing this acquisition for global expansion.
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“The Nordic countries are an epicenter of water innovation and benefit from incredible political stability, secure property rights, and a tradition of precision and discipline that permeates the business culture,” stated Brian V. Iversen. “Since inception, Cimbria has centered its efforts on investing in companies from this region and helping companies scale through our firm’s value-add Acceleration Program and transatlantic networks. We are therefore proud to have collaborated with Hedelskabet on finalizing this purchase to help expand APX10’s cutting-edge big data solutions for water and wastewater utilities transitioning to new technology systems.”
APX10 runs advanced data analytics through its proprietary platform, the data|APX® platform, to facilitate the digital transformation and insights of infrastructure owners and operators through best-in-class data capabilities and customized modules. With a large and growing percentage of Danish utilities already leveraging the data|APX® platform, APX10 is expertly positioned to increase its technology adoption throughout the Nordics, the rest of Europe, and North America with the managerial expertise of Cimbria’s leadership.
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“We are very excited to be part of the Cimbria family,” said Ulrich Borup Hansen, CEO of APX10. “We cannot think of a better partner than Cimbria to help pave the way for future success given their value-add offerings and deep sector knowledge. With the strength of our teams combined, we are confident Danish water technology can positively affect the global utilities market faster and smarter than ever before.”
Current global infrastructure systems are unprepared to solve the mounting costs associated with the challenging trends of aging, climate change-related weather events, water pollution, and limited budgets. Moreover, utilities are requiring innovations in water technology to increase efficiency and real-time data for decision making. These challenges, however, create a rapidly expanding opportunity for specialized private equity investment firms and water-tech companies that possess the unique knowledge and value-add capabilities that help both financiers and utilities achieve outsized returns on their investments.
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