The end of Triax

The end of Triax
added: 2023-07-06 17:29 | updated: 2023-07-07 13:41
author: Jerzy Kruczek | source: Polaris/Triax/satkurier.pl

This is the end of the Danish company Triax - a supplier of products for the reception and distribution of television and radio signals. As we can read in the official announcement, despite constructive negotiations and dialogues, the owners of Polaris Private Equity and Velatia Group have not been able to find a solution ensuring the smooth operation of Triax. Therefore, an application for its liquidation was filed with the insolvency court in Horsens.

Polaris Private Equity IV K/S acquired Triax A/S in 2015 and has since supported the company with several capital increases. In 2020, Polaris brought new investors with industry knowledge - Velatia Group - to the ownership group behind Triax, which then completed the merger with Ikusi Multimedia under new management and implemented a new strategy and capital plan. The activities included reorganizing the Triax group and improving efficiency, driving synergies and reducing costs, which allowed the company to achieve a positive operating profit (EBITDA) in the first half of 2023.

However, Triax has been subjected to significant negative repercussions from COVID-19 , resulting in extensive supply chain challenges and rising inflation. In addition, the fiber optic industry has undergone rapid changes, putting increasing pressure on the company's core business. Therefore, it was not possible to find a solution or complete the restructuring of the company, despite better results. Therefore, the management board decided to file a motion for the liquidation of Triax.

Triax - dating back to 1949 - has its headquarters, manufacturing and R&D base in Hornsyld, Denmark . It comprises 9 international sales subsidiaries.

Source: polarisequity.dk

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