M&A Deal Summary

Maj Invest Equity, Triton Partners and Intermediate Capital Group Acquire DSV Miljø A/S

On December 2, 2004, private equity firm Maj Invest Equity, private equity firm Triton Partners and mezzanine finance firm Intermediate Capital Group acquired environmental company DSV Miljø A/S from DSV for 1.2B DKK

Acquisition Highlights
  • This is Maj Invest Equity’s 1st, Triton Partners’ 1st and Intermediate Capital Group’s 2nd transaction in the Environmental sector.
  • This is Maj Invest Equity’s , Triton Partners’ 11th and Intermediate Capital Group’s 64th largest (disclosed) transaction.
  • This is Maj Invest Equity’s 9th, Triton Partners’ 1st and Intermediate Capital Group’s 3rd transaction in Denmark.

M&A Deal Summary
Date 2004-12-02
Target DSV Miljø A/S
Sector Environmental
Buyer(s) Maj Invest Equity
Triton Partners
Intermediate Capital Group
Sellers(s) DSV
Deal Type Divestiture
Deal Value 1.2B DKK

Target

DSV Miljø A/S

Roskilde, Denmark
DSV Miljø is a Nordic supplier of soil remediation, raw materials and recycling products and services. The company also provides related transport services

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Buyer(S) 3

Buyer

Maj Invest Equity

Copenhagen, Denmark

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 590M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Maj Invest Equity A/S (formerly LD Invest Equity) is the private equity investment arm of financial management firm Maj Invest Holding A/S (formerly LD Invest A/S). Maj invests in small-cap Danish businesses generating sales of EUR 13 to 130 million with proven business models and established market positions. Maj Invest Equity was formed in 2005 and is based in Copenhagen.

DEAL STATS #
Overall 9 of 55
Sector (Environmental) 1 of 3
Type (Divestiture) 1 of 1
Country (Denmark) 9 of 55
Year (2004) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 Junckers Industrier A/S

Koge, Denmark

Junckers Industrier A/S engages in the production, marketing, sale and distribution of solid wood floors as well as lacquer and oil for treating wood flooring. Junckers' product range can be split into solid parquet flooring and plank flooring, laminated floors and lacquers and oils for treating wooden floors.Junckers has a strong market position in its home market as well as the UK, Spain and the USA. The company's products are sold in more than 40 countries inside and outside Europe.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 R82 A/S

Gedved, Denmark

R82 A/S develops and produces technical aids and appliances, mainly for disabled children.

Buy -
Buyer

Triton Partners

Frankfurt, Germany

Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 15.6B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Triton Partners is an investment firm focused on investing in medium-size companies headquartered in Western and Northern Europe. This includes businesses in Germany, Switzerland, Austria, Denmark, Finland, Norway, and Sweden. Triton generally pursues market leading companies with the potential for change, as well as growth opportunities through operational improvements. Sectors of interest include business services, consumer products, consumer services, healthcare, and industrials. Triton Partners was formed in 1997 and is based in Frankfurt, Germany.

DEAL STATS #
Overall 8 of 93
Sector (Environmental) 1 of 2
Type (Divestiture) 5 of 29
Country (Denmark) 1 of 9
Year (2004) 3 of 3
Size (of disclosed) 11 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-31 Lehnkering

Duisburg, Germany

Lehnkering is a German supplier of logistical and industrial services to customers in the chemical and steel industries. Lehnkering is based in Duisburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-03-16 Tetra

Melle, Germany

Producer of aquatic pet food.

Sell $551M
Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.

DEAL STATS #
Overall 119 of 292
Sector (Environmental) 2 of 4
Type (Divestiture) 17 of 27
Country (Denmark) 3 of 7
Year (2004) 16 of 18
Size (of disclosed) 64 of 82
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-02 Picard

Fontainebleau, France

Picard is a frozen food retailer in France, with a product range that covers over 1,100 SKUS across nine product categories, from starters to desserts and from raw ingredients to prepared meals. Picard was founded in 1906 and is based in Fontainebleau, France.

Sell €1.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-10 `Gealan

Oberkotzau, Germany

Gealan is a manufacturer of plastic window systems producing frames for window manufacturers, with a growth focus on Eastern Europe. Gealan was founded in 1921 and is based in Oberkotzau, Germany.

Buy -

Seller(S) 1

SELLER

DSV

Hedehusene, Denmark
Category Company
Founded 1976
Sector Transportation
Employees73,881
Revenue 150.8B DKK (2023)
DESCRIPTION

DSV provides transport and logistics solutions worldwide. It operates in three divisions: Air and Sea, Road, and Solutions. DSV was founded in 1976 and is based in Hedehusene, Denmark.

DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Divestiture) 1 of 1
Country (Denmark) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-29 Roadferry

Preston, United Kingdom

Roadferry, Ltd. is a provider of logistics services in Britain, Ireland, and Europe.

Buy -
Mergr

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