Cleanzine: your weekly cleaning and hygiene industry newsletter 12th February 2026 Issue no. 1197
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Nilfisk’s Board tells shareholders to accept Freudenberg’s takeover offer
Nilfisk’s Board of Directors has recommended the voluntary all-cash takeover offer from Freudenberg for all shares in Nilfisk, and unanimously recommends that shareholders accept the offer.
The recommendation is based on the attractive offer price, transaction certainty and the strategic rationale of the proposed transaction. The offer price of DKK 140 in cash per share represents an attractive premium compared to historical share prices and values Nilfisk's share capital at approximately DKK 3.8 billion. The Board also notes that the offer is fully financed and supported by irrevocable undertakings from shareholders representing 50.9% of Nilfisk's shares, significantly increasing the likelihood of completion.
"Following a comprehensive evaluation of the offer and its implications, conducted together with our advisors, the Board unanimously recommends that Nilfisk's shareholders accept Freudenberg's offer,” stated Peter Nilsson, Board chair. “Our recommendation is based on the attractive all-cash offer price, which is supported by an independent fairness opinion, the high degree of transaction certainty, and the support expressed by major shareholders and the Executive Management.
“In addition, we see a strong strategic and cultural fit between the two companies, which makes this a compelling offer for Nilfisk's shareholders."
Prior to the announcement some time ago of Freudenberg's intention to make the offer, the Board - prompted by an unsolicited approach by a third party, conducted a competitive and structured process, initiated in Spring 2025, to assess Nilfisk's strategic options. This process included a review of Nilfisk's standalone plan as well as a range of potential ownership structures and strategic alternatives, supported by external advisors.
Following this process and subsequent negotiations, the Board concluded that the offer from Freudenberg represents the result of an extensive and meticulous due diligence and negotiation process, where the Board has worked to secure improved terms and conditions. In the Board's view the offer now presented to Nilfisk's shareholders represents the most attractive outcome.
In accordance with applicable takeover regulations, the Board has reviewed and analysed Freudenberg's offer and assessed the advantages and disadvantages of the offer for Nilfisk's shareholders. This assessment includes, among other factors, the financial terms of the offer, Freudenberg's stated plans for Nilfisk, the potential consequences for employees, and the overall certainty of completing the transaction.
The Board welcomes Freudenberg's stated commitments regarding employee continuity, company culture, and its intention to further develop Nilfisk. While the Board believes that Nilfisk can continue to operate successfully as a standalone company, it also recognises that the proposed change of ownership may create strategic benefits and further reinforce Nilfisk's position as a global leader in its field.
The offer period is expected to expire on 18th February 2026 at 23:59 CET, unless extended. Shareholders are encouraged to carefully review the offer’s terms and conditions and the implications of both accepting and not accepting the offer, before making their decision.
Freudenberg expects completion of the offer, including payment of the consideration to the selling shareholders, in the first half of 2026, subject to the receipt of all regulatory approvals and clearances.
Nilfisk was founded in 1906 by the Danish engineer P A Fisker. Today, the company is a world-leading global provider of professional cleaning equipment and services. More than 90% of sales are to professional customers. Nilfisk's products and services are sold in more than 100 countries and produced at six manufacturing sites across the globe. The company has approximately 4,500 employees and generated revenue of 1,027.9 mEUR in 2024. The largest single market is the US (28% of revenue), followed by Germany (14%), France (10%), Denmark (7%), and the UK (4%).
15th January 2026