Proekspert’s Estonian minority shareholders buy the company from the Danish owners

Today, the Estonian minority shareholders of Proekspert and the representatives of the Danish company Danfoss signed the purchase and sale agreement according to which the Estonians become sole owners of Proekspert.

Until today, Danfoss owned 75.2 percent of the company’s shares and the Estonian employees as minority shareholders held the rest 24.8 percent. The details of the transaction are confidential.

According to Marko Sverdlik, the CEO of Proekspert, the transaction is of a symbolic nature for the company. “We have had a dream that Proekspert is our people’s company. We believe that the best organization is the one owned by its employees,” explains Marko the link between the transaction and the company’s philosophy.

According to Troels Petersen, the Senior Vice president of Danfoss, they are very satisfied with the change in ownership that provides Proekspert a great opportunity for further development of the company. “The strategic importance to Danfoss remains and the fruitful and successful collaboration from the past will be continued,” Petersen added.

Proekspert is one of the first software solutions development companies in Estonia and has been in business since 1993. The company develops software solutions in the fields of telecommunications, banking, automation and smart devices as well as in the area of business analyses. The largest clients in addition to Danfoss are TeliaSonera Finland, Estonian Telecom, Microsoft, Swedbank, Danske Bank and several Estonian state companies. Proekspert employs over 120 specialists.

Proekspert has been a part of Danfoss Group since 2003 when the Danish corporation purchased 51 percent of the company’s shares. In 2009, Danfoss increased its shareholding in Proekspert to 75.2 percent.

Danfoss is one of the largest production companies in Denmark. The global organization employs over 24 000 people across the world. The company’s core business is the research, development and production of mechanical and electronic components for different branches of industry as well as the products’ sales and servicing.

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