STOCKHOLM, Dec. 10, 2020 /PRNewswire/ -- EQT is pleased to
announce that EQT Infrastructure has entered into a definitive
agreement to acquire Molslinjen A/S ("Molslinjen" or "the Company")
from a group of shareholders led by Polaris.
Molslinjen is headquartered in Aarhus,
Denmark and was established in 1963 as a single route
operator creating a shortcut between Jutland and Zealand, thereby
also a connection between the country's two largest cities. Since
then, the Company has grown into Denmark's largest passenger ferry company with
over 700 employees and 15 vessels serving over eight million people
per year across nine routes, including connections to Sweden and Germany. Molslinjen generated revenues of
around DKK 1.9 billion in
2019.
Operating in a country of many islands, Molslinjen is a critical
part of Denmark's transportation
infrastructure. Its routes constitute a network of "floating
bridges" that link Denmark's major
population centers and connect several important islands with the
mainland. As an enabler of movement of passengers and goods,
Molslinjen contributes to Denmark's local and regional economic activity
and social development.
Molslinjen's long-term development is supported by strong
secular trends, such as a steady population growth, increased
urbanization, climate consciousness, and increasing domestic
travel. The Company is well-positioned to capitalize on these
shifts with its state-of-the-art ferry fleet, serving the most
important travel corridors in the country.
Over the past decade, Molslinjen has reduced the CO2 emission
per transported kg with over 60 percent. In the years to come, the
Company will continue to invest in increased decarbonization of its
ferry fleet and reduction of fossil fuel dependence. EQT
Infrastructure is committed to supporting the Company's transition
to electrified ferries on selected routes and introducing renewable
fuel sources for larger vessels. Moreover, EQT Infrastructure will
focus on customer service improvements, such as refitting of the
vessel layout, increased departure frequency and higher passenger
capacity on popular routes.
Daniel Pérez, Partner at EQT Partners: "We have followed
Molslinjen closely for years and are tremendously impressed with
its transformation into an indispensable element of the Danish
transport infrastructure, under the leadership of Carsten Jensen and his management team. The next
development phase of Molslinjen will be defined by the Company's
ambitious sustainability agenda and continued investments in
electrification and renewable fuel sources. In parallel, we also
believe that there is scope to further build on Molslinjen's
successful inorganic growth strategy. Taken together, these
investments will further future-proof the Company, and we look
forward to embarking on this journey together with Carsten and the
management team."
Carsten Jensen, CEO of
Molslinjen, said: "We are excited to team up with EQT
Infrastructure, they are a highly strategic partner who will bring
both the industry expertise and financial muscles to support
Molslinjen's green development plans. We now look forward to
setting sail towards the next chapter in our growth journey
together with EQT."
The transaction is subject to customary conditions and approvals
and is expected to close in early 2021.
EQT was advised by Danske Bank and DC Advisory (M&A /
Financing), Accura (Legal), EY (Financial and Tax), McKinsey
(Commercial) and Arup (Technical).
With this transaction, EQT Infrastructure V is expected to be
20-25 percent invested (including closed and/or signed investments,
announced public offers, if applicable, and less any expected
syndication) based on its target fund size, and subject to
customary regulatory approvals.
Contact
Daniel Pérez, Partner at EQT Partners and Investment Advisor to
EQT Infrastructure, +4673 314 99 87
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
About EQT
EQT is a purpose-driven global investment
organization with more than EUR
75 billion in raised capital and over 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.
More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter,
YouTube and Instagram
About Molslinjen
Molslinjen is Denmark's
largest passenger ferry company with over 700 employees and 15
vessels serving over eight million people per year across nine
routes, including connections to Sweden and Germany. Molslinjen generated revenues of
around DKK 1.9 billion in 2019. In
cooperation with Herning Turist, Molslinjen is operating busses
under the brand Kombardo Expressen on direct busroutes to/from
Copenhagen - Aarhus, Aalborg, Randers, Holstebro, Herning,
Silkeborg and Rønne.
More info: www.molslinjen.dk
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/eqt/r/eqt-infrastructure-acquires-molslinjen--denmark-s-largest-passenger-ferry-company,c3252163
The following files are available for download:
https://mb.cision.com/Main/87/3252163/1346569.pdf
|
Press release EQT
Infrastructure Molslinjen 201210
|
View original
content:http://www.prnewswire.com/news-releases/eqt-infrastructure-acquires-molslinjen-denmarks-largest-passenger-ferry-company-301190092.html
SOURCE EQT