10 july 2014
KIRK KAPITAL A/S has acquired an important minority shareholding in the Polaris-owned facility management provider, Alliance+
- KIRK KAPITAL A/S acquires 46.5% of the shares in Alliance+
- Polaris remains the majority shareholder and is looking forward to the collaboration, which will lead to further growth for Alliance+
Alliance+ is a leading facility management provider in Denmark and Sweden with more than 4,500 employees. The company has grown since 2009, thanks to strong, long-term customer relationships in combination with organic growth and a number of successful company acquisitions in both Denmark and Sweden.
“Alliance+ is an extremely well-run company with a strong business concept and a tried and tested growth model. The company is a perfect match for our investment profile and has a large development potential. We look forward to helping realise the company’s development strategy in the coming years,” says Bjarne Ammitzbøll, CEO of KIRK KAPITAL A/S.
Since 2009, Alliance+ has had an average annual growth rate of 27%, which has been driven by acquisitions, organic growth and the launch of new services that have transformed Alliance+ from a traditional cleaning company to a facility management provider with activities within office support and and property services.
In 2013, Alliance+ had a turnover of DKK 931 million, which was almost three times its 2009 turnover, while the operating result (EBITDA) was DKK 69 million. The company’s acquisition strategy is expected to increase the annual turnover to a level of DKK 1.3 billion this year, with much improved earnings. The aim of the new owners is to at least double this turnover between today and 2017 through further acquisitions, development of the company’s facility management services and expansion into new markets in neighbouring countries.
“With KIRK KAPITAL’s investment in Alliance+, we are getting a major shareholder with an excellent reputation that shares our strategic goals and further strengthens our financial platform. KIRK KAPITAL wants to develop Alliance+ in partnership with Polaris, and we look forward to close collaboration between KIRK KAPITAL, Polaris and the management of Alliance+,” says Henrik Bonnerup, Partner and CFO of Polaris.
Henrik Nordenlund, CEO of Alliance+ also welcomes the new co-owner. “A prominent investor is now joining our group of owners, and we are pleased with the recognition which the investment of KIRK KAPITAL reflects,” he says.
KIRK KAPITAL A/S acquires 46.5% of the shares in Alliance+; Polaris and the management of Alliance+ own the remaining shares. ABG Sundal Collier acted as Polaris’ adviser.
For further information, please contact: KIRK KAPITAL A/S, CEO Bjarne Ammitzbøll, tel. (+45) 3344 5010 Polaris Private Equity Partner and CFO Henrik Bonnerup, tel. (+45) 2166 8766
About KIRK KAPITAL A/S KIRK KAPITAL A/S is a family-owned investment company, which was established in 2007. The Group’s commercial activities within shipping and aeroplane leasing are handled by the subsidiaries KIRK Shipping A/S and KIRK Aviation A/S. In addition, the Group owns a large portfolio of listed and unlisted shares, property and interest-bearing receivables.As at the end of 2013, the Group’s equity amounted to DKK 4.2 billion. www.kirkkapital.dk
About Polaris Private Equity Polaris Private Equity is a Danish private equity firm that invests in well-established small and medium-sized companies in Denmark and Sweden. Polaris’ first fund of DKK 1.4 billion was established in 2008, and Polaris manages DKK 4.7 billion in investments in Funds II and III. Polaris focuses on investments in companies with development potential and turnovers in the area of DKK 200–1,500 million. To date, Polaris has invested in 31 companies, of which 15 have later been sold. Add to this, more than 50 additional investments in portfolio companies. www.polarisequity.dk.