HusCompagniet prices initial public offering (“IPO”) on Nasdaq Copenhagen, priced at DKK 117 per offer share, equal to a market capitalization of DKK 2.34 billion
During EQT’s ownership, HusCompagniet has fortified its position as a leader within the single-family detached market segment in Denmark by refining its customer-centric journey, improving its asset-light delivery model and expanding its geographical footprint into Sweden
Under EQT’s tenure, HusCompagniet has increased revenue by 57 percent, adjusted EBITDA by 42 percent, and the employee base by 68 percent
EQT is a purpose-driven global investment organizationwith more than EUR 75 billion in raised capital and currently more than EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
HusCompagniet is a leading provider of single-family detached houses in Denmark. The Company’s core activity is the entire customer journey from inspiration, design, sale and delivery of customizable high-quality detached houses in Denmark to consumers, built on-site on customer-owned land. HusCompagniet also designs, sells and delivers semi-detached houses in Denmark to consumers and to professional investors, who either lease or sell the houses to end-users. HusCompagniet operates an asset light business model where almost all construction is outsourced to sub-contractors allowing for a flexible cost base.
The Group is also present in Sweden, where it operates through the VårgårdaHus brand, and where it produces prefabricated wood-framed detached houses in its factory in Vårgårda, which are sold by agents and finalized on-site on customer-owned land.
HusCompagniet has 16 offices with show rooms and more than 60 show houses throughout Denmark. In Sweden, HusCompagniet has 27 sales agents and sub-agents. At the end of September 2020, HusCompagniet had 437 employees.
More info: www.huscompagniet.dk
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EQT is pleased to announce that EQT VI portfolio company HusCompagniet A/S (“HusCompagniet” or “the Company”) has priced its IPO on Nasdaq Copenhagen stock exchange with a final offer price of DKK 117 per share, equal to a market capitalization of DKK 2.34 billion. Following the IPO, EQT VI remains invested in HusCompagniet with 37.9 percent of the outstanding shares, assuming full exercise of the overallotment option.
Headquartered in Horsens, Denmark, HusCompagniet is a leading provider of houses in the single-family detached segment in Denmark as well as semi-detached houses for consumers and professional investors. HusCompagniet’s position in Denmark has been established through a differentiated business model, underpinned by a customer-centric concept and an asset-light and flexible delivery model.
Since acquired by EQT in 2015, HusCompagniet has continued to grow in its core market segment by increasing its market share and strengthening its differentiated positioning. This was enabled by the roll-out of new offices across Denmark and continuous efforts to digitalize processes in both the customer journey and construction management. HusCompagniet has also built a presence in Sweden through the acquisition of VårgårdaHus in 2017, a manufacturer and seller of prefabricated wood-framed detached houses.
EQT has supported HusCompagniet with integrating a circular mindset with regards to the lifecycle of a house with an ambition to reduce CO2 emissions throughout the value chain. The Company uses sustainable construction techniques and environmentally friendly building materials that can be reused or recycled in the future. In 2019, around half of all sold houses were powered by at least one alternative energy source, such as solar panels, geothermal- or air source heating pumps.
Over the years, EQT has also helped facilitate a management succession, putting in place a strong and long-term management team. The Company’s board has been significantly strengthened and diversified with regards to gender and industry experience, with new members from both private and public settings. Between 2015-2019, the Company’s revenues increased by 57 percent from DKK 2,228 million to DKK 3,496 million, the adjusted EBITDA increased by 42 percent from DKK 229 million to DKK 326 million and the employee base grew by 68 percent, with a current total of around 440 people.
Mads Ditlevsen, Partner at EQT Partners, commented: “We are proud to see HusCompagniet reach this impressive and important milestone. The company is ready to be listed on Nasdaq Copenhagen thanks to strong results achieved by its dedicated and skilled employees and the management team. We believe HusCompagniet is well-positioned to continue its strong development, and we are excited about being part of its future journey together with new Danish and international investors.”
Martin Ravn-Nielsen, CEO of HusCompagniet, added: “The IPO is a milestone for HusCompagniet and all our employees, and we are now embarking on an exciting journey as a publicly listed company. We have already made great achievements, and thanks to our talented employees, a relentless customer focus and by delivering on time, in high quality and within budget, we are today the market leader within the segment for detached houses in Denmark. With our historic results as the foundation, HusCompagniet is well-positioned to chase further growth – not least in the market segment for new build semi-detached houses targeted at professional investors.”
Mads Ditlevsen, Partner at EQT Partners and Investment Advisor to EQT VI, +45 33 18 12 31
EQT Press Office, firstname.lastname@example.org, +46 8 506 55 334
This announcement does not constitute an offering circular or a prospectus as defined by Regulation (EU) No. 2017/1129 of 14 June 2017 and nothing herein shall be construed as an offering of securities. No one should purchase any securities in HusCompagniet A/S (“HusCompagniet” or the “Company”) except on the basis of information in the offering circular or prospectus published by the Company in connection with the offering and admission of such securities to trading and official listing on Nasdaq Copenhagen A/S (“Nasdaq Copenhagen”). Copies of the prospectus (also referred to as the “Offering Circular”) are available at the Company’s registered office and, subject to certain exceptions, through the website of the Company.
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by the Company in any jurisdiction where such offer or sale would be unlawful and this announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions.
This announcement and the information contained herein are not for distribution in or into the United States of America (including its territories and possessions, any state of the United States of America and the District of Columbia) (the “United States”). This announcement does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities of HusCompagniet A/S have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.