Current portfolio

Ellab

A leading global supplier of solutions and services for validating, measuring, recording, and monitoring critical parameters of thermal applications

Ellab’s mission is to increase consumer safety by providing solutions for measuring, recording, monitoring and validating critical parameters of thermal processing in applications, where accurate and complete documentation is essential.

  • Sector
    Industrial Technology
  • Country
    Denmark
  • Responsible Advisor
    Rikke Kjær Nielsen
  • Fund
    EQT Mid Market Europe
  • Entry
    2019
  • Web
  • Societal Contribution

  • 3Good health and well-being
  • 9Industry, innovation and infrastructure
  • 11Sustainable cities and communities
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About Ellab
Founded in 1949, Ellab has become a leading global supplier of solutions and services for thermal validation and monitoring solutions. The company offers a wide range of high-precision and modular systems based on data loggers and thermocouple-based wired instruments. In addition to its equipment offering, Ellab offers a user-friendly software which is integrated with Ellab validation equipment, calibration and validation services, rental of equipment and training of personnel.

The company employs more than 400 people worldwide with sales in more than 70 countries, serving a blue-chip customer base including some of the largest pharmaceutical and food companies globally.

Market trends and drivers
The global addressable market for validation- and monitoring equipment and services is a fast-growing market across geographies, driven by underlying global macro trends such as increasing regulation, rising focus on consumer safety, Industry 4.0, services outsourcing penetration and growing demand from pharmaceutical and food processing end-markets. Further, the market is non-cyclical given the mission-criticality of thermal validation and the associated regulatory requirements, and further has high formal and informal entry barriers, such as relationship-driven sales models and high switching costs.

Investment potential
When acquired by EQT, Ellab had been growing profitably at double-digit growth rates for 15 years. This had been enabled by an entrenched leadership position in the growing niche market for thermal validation and monitoring, supported by strong underlying and non-cyclical macro trends. During the ownership, EQT will support the continued global growth of Ellab through an array of organic growth levers. Specifically, these constitute refining Ellab’s go-to-market model in the US and Europe, continuing to devote significant resources to the company’s R&D and innovation efforts, advancing the company’s digital presence, and expanding the as-a-service offering.

Board of directors

  • Chairperson
    Bo Risberg
  • Board member
    Rikke Kjær Nielsen
  • Board member
    Peter Krogh
  • Board member
    Sarah Newbitt
  • Board member
    Anna Levander
  • Board observer
    Madeleine Magnerius
  • Board observer
    Jolin Holmgren

Management

  • CEO
    Ludvig Enlund
  • CFO
    Jacob Bryde Christensen

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