December 16, 2024

Solix acquires majority stake in Chora, a Danish developer of mission-critical communication solutions

Inside PE
Danish private equity firm Solix has acquired a majority stake in Chora Gruppen, a Denmark-based specialist in electronic warfare and defense technology. The acquisition marks Solix's third acquisition in Denmark this year, highlighting the growing investor interest in the defense sector following geopolitical tensions. The acquisition closed already on October 30, 2024, but no announcement of the deal was made. Chora is an international developer and manufacturer of mission-critical communication solutions used by the electronic warfare sector. Known for its advanced antenna systems, the company has seen significant growth, reporting revenues of DKK 132m and doubling its EBITDA to DKK 80m in 2023. News media Inside PE estimates the deal to value Chora at around DKK 1bn. NKP | M&A insights first and exclusively reported that Chora was in a live sale process advised by Deloitte Corporate Finance in May 2024.
Transaction announcement
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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
May 16, 2024

Advised by Deloitte Corporate Finance, Chora, an international developer of mission-critical communication solutions, is in the market with IMs having been shared with selected suitors, acc. to several of NKP's sources - Revenues of DKK 132m and EBITDA of DKK +80m in FY23 (NKP Proprietary)

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

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