Danish pro-audio manufacturer ICEpower has signed a definitive agreement with Crestline, for an investment in a majority stake in the company.
Crestline, headquartered in the US, is an investment management firm with over $16 billion in assets under management.
Founded in 1999 as a joint venture with Bang & Olufsen, the ICEpower management team carved out the Company as part of a management buy-out through partnership with Dansk Ejerkapital in 2016, in order to pursue an ambitious growth strategy.
Under the leadership of Keld Lindegaard Andersen (CEO), the company has enjoyed stellar double-digit growth In the last 5 years that has seen the company grow from 15 to over 100 engineers.
Keld Lindegaard Andersen, CEO of ICEpower, commented,“The management decision to continue this journey together with Crestline was easy for us. Crestline and ICEpower are truly global, and we share the same global mindset. Crestline is known to be ambitious, so are we, and Crestline operates by creating the framework for setting organisations and individuals free to perform on their business plan.”