Danish small- and mid-cap GP CataCap has acquired a 60% stake in Horsens-based construction and renovation company Casa from the company’s founders.
Founding trio Michael Mortensen, Per Hansen and Peter Rosengreen will remain with the company post-buyout, as CEO, CFO and COO respectively, and will control a combined significant minority stake. Alongside CataCap, the founders will help choose a new board in the coming months.
CataCap plans to grow the company by supporting and developing the organisational structure to handle an increased order load.
Managing partner Vilhelm Hahn-Petersen told unquote" the deal was financed with a senior debt package from Nykredit and Sydbank, with a subordinated vendor loan from the sellers.
For Mortensen, the company is his second to be bought by private equity, having sold the home builder that would eventually become HusCompagniet to Axcel in 2006 and fully exited it in the following years when it was first sold to FSN Capital and then to EQT for DKK 2bn in July last year.
The buyout is CataCap's first in 2016, with its most recent acquisition being Danish branded textile manufacturer SkyBrands in June 2015.
Founded in 2006, Casa is a construction and development company headquartered in Horsens.
The company claims to have had an average per annum growth of 55% since 2012 and generated revenues of DKK 1bn last year, with EBITDA of DKK 86m.
Casa employs a staff of 90 across its Horsens and Copenhagen offices.
CataCap – Vilhelm Hahn-Petersen (partner).
Casa – Michael Mortensen (founder, CEO).
Equity – Accura (legal); Deloitte (financial due diligence); Implement Consulting Group (commercial due diligence).
Vendor – Colliers International (corporate finance); Bech-Bruun (legal).
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