KIRK KAPITAL A/S acquires 48% of the shares in PNO, the largest trailer company in the Nordic countries

PRESS RELEASE

The investment company KIRK KAPITAL A/S has acquired 48% of the shares in PNO Holding A/S, which with its 10,000 trailers is the largest company in the Nordic countries within the fields of leasing, sale and service of quality trailers to the transport industry.

“PNO is a well-run company with a strong business concept and a unique position in the market.The company is a perfect match for our investment profile and continues to present great development potential, which we look forward to helping realise in the coming years,” says Bjarne Ammitzbøll, CEO of KIRK KAPITAL A/S.

PNO is a family-owned company, which is currently undergoing a planned generational change. In 2013, PNO realised a turnover of around DKK 600 million, and its operating result (EBIT) was DKK 91 million. The balance sheet total was DKK 1.6 billion and equity amounted to DKK 270 million. In the coming years, the company will increase its turnover and revenue in existing markets. The business volume should increase with the help of PNO’s strong customer contacts, and the company will endeavour to attract new customers and further develop its business support systems.

“With KIRK KAPITAL A/S, we get a financially strong, long-term shareholder, sharing our strategic goals for PNO.We constantly endeavour to strengthen the company’s sales and competitive edge, and by extending our product portfolio and improving our service setup, we expect to grow and increase our market shares in existing markets.By joining as a shareholder of the company, KIRK KAPITAL A/S helps ensure successful completion of the current generational change, while giving us a strong foundation for our planned development over the coming years.I look forward to working with KIRK KAPITAL A/S during the next exciting stage of PNO’s development,” says Group CEO, Jacob Lee Ørnstrand, PNO.