Foreman Capital invests in DST CHEMICALS, an innovative specialty metal cleaner with global presence
Foreman Capital and the shareholders of DST CHEMICALS A/S have today reached an agreement on the acquisition of a majority stake in the company by Foreman Capital. Foreman capital will partner with the current shareholders and the existing management as minority shareholders to fulfil the growth ambitions of DST and build a global leading producer and distributor of eco-friendly metal cleaning products for degreasing, de-rusting and temporary corrosion protection.
DST is a market leading manufacturer of eco-friendly specialty chemical consumables with headquarters in Denmark. For the past years, the CEO and majority shareholder Jacob Funk has successfully built the business and developed a tailored service concept that, combined with a strong product portfolio of cleaning products, enables customers to improve quality of production whilst reducing CO2 emissions and wastewater production.
“We are proud that our team efforts and successes have been rewarded with a great next step: The partnership with Foreman Capital. Together with Foreman, we will realise our ambitious growth plan and become a global leading producer and distributor of cleaning products, by continuing to offer our clients a full-service cleaning concepts, tailored to their specific needs” says Jacob Funk, CEO of DST.
“DST is an excellent run business with a solid market position, a recurring and growing customer base and a superior service concept and product portfolio. We look forward to join Jacob and his team on their ambitious journey to further expand the global position and to contribute to this with the expertise we have gained from other investments” says Arent Fock, partner at Foreman Capital.
Jacob Funk will stay on as CEO of the company and will continue to lead the company together with the existing management team. Foreman Capital will support the team with expertise, commitment and enthusiasm. Financial terms of the transaction are not disclosed.
About DST Chemicals
Founded in 1987, DST is a leading Danish producer and distributor of eco-friendly specialty chemical consumables, used for metal cleaning as part of various manufacturing processes. The company has a wide product portfolio, including products for degreasing, de-rusting & deburring, metal passivation and floor cleaning chemicals. DST offers eco-friendly chemicals that enable customers to decrease delivery times, improve quality of production whilst reducing CO2 emissions and wastewater production. DST is a global company with ~65 employees across Denmark, Germany, CEE, Sweden, France, India and the US.
About Foreman Capital
Foreman Capital is an investment firm based in Amsterdam and Copenhagen, investing in growing, profitable small and medium-sized businesses that are active across e-commerce, technology, trade, manufacturing and services. With a track record of over 25 years, Foreman supports among others founder-led and family-owned businesses in further professionalisation and growth acceleration, acting as a sparring partner for entrepreneurs and management teams.
DST CHEMICALS A/S
Ruben Dankaart (NL)
Martin Jacobsen (DK)