As of September 1st 2022, the Dutch group CROWD has bought the HITSA group. CROWD already owns six other European manufacturers of equipment for urban spaces, cycling infrastructure and playgrounds. The CROWD group aims to make a conscious contribution to the living environment of people with developing products via their companies.
CEO at HITSA, Henrik Andersen, continues as such and at the same time becomes CEO at CROWD Nordic. He says:
“With a new, European owner we stand even stronger in regard to developing HITSA as a supplier of urban furniture that lives up to both public and private clients’ expectations in terms of quality, innovation, flexibility and ability to compete. The new ownership means resources, knowledge and networking across our current markets. I am pleased in particular by the fact that CROWD shares our values within social responsibility, environmental sustainability and positive urban environments. Closeness to our customers and our market remains of high importance – this is unchanged after the sale,” he says.
CROWD means ‘Creators of the Outside World’. Among other companies, CROWD owns VelopA, whose two tier bike racks HITSA already distributes. The CROWD group focuses on circular economy, Smart City-solutions, design solutions and growth.
“HITSA and CROWD group have already a positive history via many years of trading with VelopA. With this acquisition we intend to build upon this relationship further as well as to expand the distribution of HITSA products throughout other CROWD group businesses, including the Lampas range of lighting, invest and develop the manufacturing capability of HITSA, share and learn within the product development arena and expand the marketing capabilities of HITSA, to name but a few growth opportunities,” says James Steward, CEO of the CROWD Group.
The entire HITSA group changes hands, which means HITSA and Lampas in Denmark are included in the acquisition as well as HITSA in Sweden and VT East in Latvia. There are no current plans to change the company’s legal structure, the product range etc. in connection with the sale.
At Den Sociale Kapitalfond Invest, who since 2018 has been the main shareholder of HITSA, managing partner Lars Jannick Johansen is pleased with the sale to CROWD:
“HITSA have completed a tremendous development process which has included acquisitions, efficiency improvements, product development and Scandinavian expansion, while strengthening social responsibility, ESG commitments and good results. CROWD, with their European ambition and the focus on social and environmental responsibility, are a strong new owner in regard to HITSAs future development,” he says.
Gynther Kohls, who now passes on the task of Chairman of the Board of Directors at HITSA, says:
“Since 2018 and the acquisition of the company Veksø, HITSA has grown from a small metalworking company to an innovative, competitive and modern industrial manufacturer with a strong brand in the Scandinavian market and with daily management committed to social responsibility and environmental sustainability. Employees and managers can proudly look back at an amazing journey, which now continues with CROWD at the table. The new owners will – from the basis of HITSAs strong values and culture – continue the task of becoming the leading partner within development, distribution of urban furniture and products for cycling infrastructure in markets in all of Scandinavia. My best wishes for everyone on the continued journey – it’s going to be exciting to see, where it leads.”
“HITSA feels very grateful towards Den Sociale Kapitalfond Invest. They believed in HITSA at a crucial time and have contributed greatly to our development. Now, we look forward to influencing the future of urban furniture in Scandinavia and Europe in cooperation with CROWD,” says Henrik Andersen.