SP Group A/S, of which Tinby A/S is a part, has made an agreement with MMC Group ApS to acquire MM Composite A/S and its subsidiary MM Composite Inc.
Founded in 1979, MM Composite has 65 employees and is a leading producer of high-quality composite parts. The company develops and sells components for the wind turbine and hydro energy industries worldwide, from its own factories in both Denmark and the USA. They offer production in all types of resin, including epoxy, polyester, and vinyl ester, as well as glass and carbon fiber, plug and mold production, injection, hand lay-up, RTM, vacuum processes, prototypes, and surface treatment.
MM Composite will continue its operations under the same name. Kent Bøllingtoft Madsen, who has previously been the director, will become the new CEO. Mogens Marxen will remain on the board and step down from the executive team. SP Group’s CEO, Frank Gad, will become the new chairman of the company’s board.
The acquisition of MM Composite strengthens SP Group’s position in the Northern European market, as well as its presence in the American market, and accelerates the group’s growth. SP Group intends to develop MM Composite with its current strategy and in its current spirit.
CEO of SP Group, Frank Gad, states:
"SP Group is acquiring a well-functioning and profitable company with excellent leadership and skilled employees, based on a strong belief that, together, we can leverage our experiences in development, production, and sales to strengthen competitiveness and create an even stronger international position for the benefit of our customers."
