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Polaris Private Equity, which invests in mature small and medium-sized businesses in Denmark and Sweden, has bought Skamol, which develops, manufactures and markets thermal insulating materials for heat-intensive and passive fire protection industries.

The firm bought the Danish business from Auriga Industries for DKK260 million (£23.7 million) and now plans to fund its growth.

Polaris was advised by Jakob Østervang, a partner at law firm Abel & Skovgård Larsen, who was supported by corporate, employment and real estate specialists.

Østervang said his team was also responsible for a legal due diligence review of Skamol and its subsidiaries. “After having issued a high-level due diligence report, I was in charge of the negotiations with the seller’s counsels which resulted in the conclusion and signing of a share sale and purchase agreement.”

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