| Role: | CEO & Majority Owner |
| Tenure: | 2021 – 2025 |
| Industry: | Electrical Panel Manufacturing / Industrial (Denmark / Poland) |
THE MANDATE
Elogic was a volume-driven manufacturer of control and distribution panels struggling with unprofitability, a lack of standardization, and poor cash flow discipline upon acquisition in 2021. The mandate was to lead a comprehensive turnaround and restructuring — pivoting the business model toward high-margin industrial segments, professionalizing operations, and leveraging a low-cost production footprint in Poland to drive competitiveness. Despite achieving significant operational success and nearly 700% EBIT growth, a legacy debt burden and external liquidity shocks ultimately led to insolvency in 2025.
KEY INITIATIVES
| Focus Area | Initiatives Implemented |
| Strategic Pivot & Business Model | • Shifted customer portfolio from low-margin building installers toward large-scale production plants and volume industrial machine producers with complex technical requirements • Re-engineered the service department from a discounted add-on into an integrated, high-margin business unit supplemented by agile prototyping in Denmark • Enforced strict standardization of solutions across all segments, significantly increasing contribution margins • Repositioned Elogic as a specialized, high-margin industrial partner rather than a commodity volume manufacturer |
| Operational Excellence & Cost Leadership | • Concentrated high-skilled production and project engineering at Elogic Polska, accessing a larger talent pool at ~50% lower cost than Danish competitors • Achieved total salary costs per employee of DKK 250k versus an industry average exceeding DKK 500kEnabled project pricing 10–15% below market benchmarks while maintaining comparable or superior margins • Navigated the 2022 global supply chain crisis (delivery performance below 50%) by diversifying suppliers and enforcing strict margin controls |
| Financial Discipline & Cash Culture | • Transitioned from owner-funded liquidity to a strict ‘Cash is Key’ culture with rigorous working capital management • Leveraged trade finance tools to improve cash conversion across the operating cycleSecured a comprehensive financing plan involving EIFO (Danish Public Investment Fund) and Nykredit Bank • Drove EBIT from DKK 1.0m (2022/23) to DKK 7.9m (2023/24) — a 700% improvement in one fiscal year |
RESULTS
Financial Performance
The underlying financial health of the business improved drastically through disciplined management. EBIT grew from DKK 1.0m to DKK 7.9m — representing a 700% increase in a single year. With the operational model fully implemented, the business was on a clear trajectory to deliver DKK +30m EBITDA by 2024/25, equivalent to a 10x increase in Enterprise Value from the time of acquisition.
Context & Outcome
By 2025, Elogic had been professionalized to a level where its enterprise value could have increased drastically. However, the combined impact of financing disruptive material supplies post-COVID in 2022/23 (DKK 33m) and delayed payments from a major customer in 2024/25 (DKK 7m) created a DKK 40m financing gap that could not be bridged. At the time of insolvency, the company was in late-stage due diligence with a new investor — confirming that the market recognized the value of the restructured growth platform. The core lesson: a proven operational turnaround model cannot survive structural liquidity gaps created by external shocks, regardless of underlying performance trajectory.
SUMMARY OF IMPACT
| Category | Outcome |
| EBIT Growth | 700% increase in one year — from DKK 1.0m to DKK 7.9m (2022/23 to 2023/24) |
| Cost Leadership | Salary cost per employee at DKK 250k vs. industry average of DKK 500k+ |
| Pricing Advantage | Project pricing 10–15% below market benchmarks while maintaining superior margins |
| Strategic Repositioning | Shifted from commodity volume manufacturing to specialized, high-margin industrial partnerships |
| Market Validation | Late-stage investor due diligence confirmed enterprise value of restructured platform at time of insolvency |
