A Danish furniture manufacturer has officially ceased operations following its acquisition by Kvist Industries. In 2024, Kvist Industries purchased Daqua's production assets, including machinery, equipment, and inventory, generating a gain of nearly DKK 3.7 million.
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Following the sale, the company (Daqua Limtræ) significantly reduced its workforce, from 19 employees to just five, and formally closed all remaining operations in 2025.
The proceeds from the sale were placed in the company's bank account, increasing cash reserves to nearly DKK 5.9 million by the end of the year. Shortly afterward, an extraordinary dividend of DKK 5 million was distributed to the owners, Benny Jørgensen, Kim Jørgen, and Michael Kvist, who had acquired the company's production assets through his own company. The Daqua property itself was sold separately in the following year, producing an additional accounting gain of around DKK 800,000.
Kvist Industries integrated Daqua's machinery and customers into its headquarters in Årre near Esbjerg, citing synergies between the companies, particularly in solid wood table production and overlapping customer bases. Despite this strategic acquisition, Kvist Industries faced challenges, including a fire at its Latvian production facility in 2024, which caused material losses and contributed to a pre-tax loss of DKK 9.8 million for the year.
Daqua Limtræ was placed into liquidation in September 2025, and the formal dissolution was completed three months later. The closure marks the end of the brand but allowed the previous owners to secure substantial financial gains from the sale.
Source: www.wood-supply.dk
