DreistStorgaard has advised the owners of a group of electrical installers in Zealand, including A/S Aage Langkjær with headquarters in Skælskør, in connection with the sale to the Norwegian capital fund Credo Partners, which at the same time also buys El & Teknik in Næstved and El-Comp in Vordingborg.
Credo Partners has recently sold the Norwegian company Konstel, which with 20 acquisitions of local electrical installers in 3½ years grew from NOK 400 to NOK 1.5 billion. in turnover, and is now trying to repeat the success in Denmark.
DreistStorgaard has advised the owners of A/S Aage Langkjær and other sellers regarding all aspects of the transaction, including preparation of the sale, implementation of due diligence, internal structuring prior to the sale, employment law matters and negotiation of transaction documents. In some areas, DreistStorgaard has also had a coordinating role for all the sellers in the transaction, including in relation to the reinvestment made by the owners.
The main shareholder in Aage Langkjær, Lars Juhler Kristensen, who continues in the role of day-to-day manager of the company, says:It is an exciting path we are embarking on together with Credo Partners and the other sellers. It will be exciting to develop something together. Throughout, we have had very good help from the team at DreistStorgaard, who with a “safe hand” have helped us navigate the transaction documents and get everything in place. You could count on things being under control”.
Client partner at DreistStorgaard is Søren Storgaard and the team that has worked on the case also includes partner Nikolaj Juhl Hansen as well as Janne Brustad, Katja Skovlund Jensen, Pia Petersen and Helle Hindborg. Søren Storgaard says:Super-exciting case to work with. I really believe that there is a good rationale in the thoughts that Credo Partners has, and it will be exciting to follow our clients on the new journey. Thanks to my team, who have put in an excellent effort, even if it has sometimes been into the wee hours.”
DreistStorgaard’s M&A team is currently busy with transactions in the SME segment, and the transaction is the third major one in 2023 for the team. Read more here .
Nikolaj Juhl Hansen, who joined DreistStorgaard as a new partner on 1 November 2022, says: “We are extremely busy at the moment and do not feel any kind of slowdown in our M&A segment. We act for a number of Danish companies that are in the process of processes with foreign buyers, so the level of activity is high. It really is a fantastic team that is in place at DreistStorgaard and I really enjoy working with all the new colleagues. With more transactional news in the pipeline, 2023 is shaping up to be an exciting, if busy, year.
El & Teknik was advised by Thomas Colstrup from Advodan in Næstved and Christian Schlüter-Wraa from Penta Advokater advised El-Comp. DreistStorgaard thanks everyone for a good and smooth collaboration.
You can read Credo Partners’ announcement of the transaction here .