Consolidation and change of ownership at Hosta Industries
Hosta Industries has tripled its turnover in the past 10 years, and is now entering a new phase of consolidation and a change of ownership. The family-run company will continue with Christian Mosevang as the sole owner.
Hosta Industries, a specialist in automated steel processing including punching, winding, welding, laser cutting, edge bending and tool manufacturing, has seen some tremendous development over the past 10 years. Since 2000 the company has tripled its turnover, and today it is one of Denmark’s leading suppliers to the metal industry in Denmark and neighbouring countries.
This period of growth is now, partly due to the COVID-19 pandemic, moving into a phase of consolidation, and both the management and the board are now more closely involved with the operation:
“We are currently completing our accounts for the 2019/2020 financial year, which ended on 30 June. Development has been satisfactory under the circumstances, but we have unfortunately seen a decline in orders in recent months due to the COVID-19 crisis. As a result we have made organisational adaptations and taken other measures,” says owner Christian Mosevang. He continues: “We do however have a solid customer portfolio and a reasonable order book. What we need to do now is look forward and make the most of the opportunities afforded us by our unique expertise in steel processing.”
Christian Mosevang and his brother Søren Mosevang have owned the company since 2014, succeeding their father Orla Mosevang, who founded it in 1973. From August 2020, Christian Mosevang is continuing as the sole owner, as the two brothers differ on the company’s future strategy:
“Hosta is an amazing company, and it has meant a lot to our family over the years. We are now on the brink of a new phase that calls for a new strategy, and my brother and I differ on where Hosta Industries should be heading. We therefore agreed that continuing with a single owner is in the best interests of the company moving forward. It has of course been a big decision with all kinds of factors to consider, but I now look forward to trying out other business areas,” Søren Mosevang explains.
Søren Mosevang officially stepped down as CEO of Hosta Industries on Friday 7 August 2020, but will remain linked to the business for the immediate future. Christian Mosevang is returning to the Chief Executive role, which he previously held from 2006 to 2018.
Board Chairman Mikael Staal Axelsen is a close sparring partner to the Mosevang family, and he has taken a step closer to the business in order to ensure a smooth transition – both on the business side and in terms of the change in ownership:
“The other board members and I view the future of Hosta Industries very positively. The COVID-19 pandemic means that we’re now focusing more on operation and stability than on growth and development. Even so, we have a hugely agile business that’s strong in expertise, and we have every opportunity to consolidate in the coming period,” he says, adding: “Customers and their needs are also now more in focus, and we are making a concerted effort to secure a smooth transition for everyone when it comes to the change in ownership – and that means the family, our business partners and our employees.”
The company’s official accounts for the 2019/2020 financial year are expected in October 2020. The management and board anticipate pre-tax profits in the region of DKK 4 million. Equity on 30 June 2020 was DKK 42 million.
For further information, please contact
- Christian Mosevang, Hosta Industries A/S, tlf. +45 98 28 16 77, mobil +45 20 11 17 99 og firstname.lastname@example.org
- Bestyrelsesformand Mikael Staal Axelsen, Hosta Industries A/S, mobil +45 40 70 41 88 og email@example.com