EQT VI acquires HusCompagniet in Denmark
- EQT VI to acquire HusCompagniet, a leading Danish single family brick-house retailer
- EQT VI to support HusCompagniet with both continued growth in Denmark and an international expansion
EQT VI has entered into a definite agreement to acquire HC TopCo A/S (“HusCompagniet” or the “Company”) from Danish FSN Capital III.
HusCompagniet is a market leader in the single family brick-house market in Denmark and has attractive market positions in Germany and Sweden. By combining a concept of trademark quality, a first class consumer brand and customer focus, HusCompagniet has raised the number of delivered houses rapidly resulting in increasing market shares. The Company operates with a unique asset-light business model, collaborating with a distinct group of sub-contracted construction professionals to deliver quality houses at industry leading delivery times. During 2014, HusCompagniet delivered a total of 1,010 houses. Revenues for 2014 amounted to DKK 1.8 billion with an EBITDA of DKK 189 million. HusCompagniet has 230 employees.
With EQT VI as a new owner, the Company’s business plan will focus on continued growth through, for instance, additional market penetration across Northern Europe.
“EQT has followed HusCompagniet for several years and we are impressed by the quality and dedication of both the employees and management. We are also impressed by the strong Danish market position and the fast growing positions in Germany and Sweden. We believe HusCompagniet has an excellent platform to pursue further growth,” says Morten Hummelmose, Partner at EQT Partners, Investment Advisor to EQT VI.
“We are excited to have EQT VI as our new owner. As part of the EQT family, we hope to be able to leverage the international network of EQT and its expertise in supporting growth strategies. Together with EQT, we will continue to develop HusCompagniet and further develop our position as the leading Northern European single-family brick-house retail concept,” says Steffen Baungaard, CEO of HusCompagniet.
Closing of the transaction is expected in August, subject to customary anti-trust approvals. The parties have agreed not to disclose the transaction value.
EQT VI has been advised by PwC Corporate Finance, Plesner and PwC Transaction Services.
Morten Hummelmose, Partner at EQT Partners, Investment Advisor to EQT VI + 45 3312 1236
Kerstin Danasten, EQT press contact +46 8 506 55 334
EQT is the leading private equity group in Northern Europe, with portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information please visit www.eqtgroup.com
HusCompagniet is a market leader in Denmark and rapidly growing positions in Germany and Sweden. HusCompagniet builds on a strong brand and business model, delivering high quality single-family houses with great value for money. By taking large market shares in recent years, the Company is now three times larger than the nearest competitor on the Danish market. In 2014, HusCompagniet delivered 1,010 houses to customers in Denmark, Sweden and Germany. The revenue has grown from DKK 1.2 billion in 2011 to DKK 1.8 billion in 2014. The company employs 230 people. HusCompagniet have been awarded House Builder of the Year in Denmark the last three years.
For further information please visit www.huscompagniet.dk