Partnership with Capidea

The Danish private equity fund, Capidea, has become the new majority shareholder in HVACON Marine Systems A/S, which is a market leading provider of energy optimization systems and software to the maritime industry. In close partnership with the management team, Capidea will contribute to the continued growth and development of the Company. The former owners and management team, Claes Fog Bølge and Anbjørn Ådland, will continue as significant shareholders and in their respective roles. Furthermore, Hans Ottosen and Henrik Elbæk Pedersen are new shareholders in the Company and will contribute with their technical and commercial experience within the maritime industry as chairman and member of the board, respectively.

“In HVACON Marine Systems, we are excited to have partnered up with Capidea, Hans and Henrik to increase the growth and development of the Company. Together we can accelerate our goals for CO2 reductions and contribution to a greener tomorrow. Not only do we share the same values and ambitions, but we also see eye to eye regarding challenges, possible solutions and the full potential of HVACON Marine Systems. Our objective remains unchanged, and we will continue to develop and provide the best energy optimization solutions for our customers to advance their green transition“, says Claes Fog Bølge, CEO and founder in HVACON Marine Systems.

“HVACON Marine Systems is a leading provider within its niche market, which is characterized by positive and interesting underlying trends. Over the years, HVACON Marine Systems has built a strong position and broad portfolio of systems and solutions, which along with the highly experienced management team, attractive customer base and dedicated employees constitute a strong platform for further growth. In Capidea, we look forward to actively supporting HVACON Marine Systems in the continued growth and development of the Company together with the management, employees and customers”, says Henrik Normann Karlsen, Partner in Capidea.

About HVACON Marine Systems

HVACON Marine Systems is a market leader within energy optimization solutions and software to the maritime industry. HVACON Marine Systems’ services range from parts to turnkey projects, including survey, design, procurement, programming, installation, testing and commissioning. The Company is highly experienced within engineering and software development, which enables the Company to both advise customers on the right solutions, develop and execute projects. In general, the benefit of the Company’s systems is lower fuel consumption, which ultimately results in lower CO2 emissions thus supporting the green transition of the maritime industry.

For additional information regarding HVACON Marine Systems, please visit

About Capidea

Capidea is a Danish private equity fund making long-term investments in competitive small and medium-sized Danish companies. Capidea was established in 2006 and has a total capital commitment of approximately DKK 3.6 billion / EUR 473 million in four funds. Capidea invests in companies within trading, distribution, service, IT and manufacturing. Since 2006, Capidea has acquired 28 companies and HVACON Marine Systems is the third investment in Capidea’s latest fund, Capidea Kapital IV K/S, which was established in April 2023 with a total capital commitment of DKK 1.3 billion / EUR 175 million.

For additional information about Capidea, please visit

For further inquiries, please contact:

Claes Fog Bølge

HVACON Marine Systems

Henrik Normann Karlsen
Capidea Management