Danish shipping company Unifeeder has been acquired by UK's Montagu Private Equity LLP for an undisclosed sum. Financial daily newspaper Børsen writes however that the price tag is rumoured to be around DKK 2 bn (USD 360 m). Unifeeder operates northern Europe's largest feeder network for container transportation.
Peter Dahlberg, investment director at Montagu, says: "Unifeeder is an integral part of the transportation chain and enjoys an excellent record of volume and revenue growth. The company fits perfectly into Montagu's strategy of investing in partnership with outstanding management teams in businesses with positive momentum and substantial growth and development potential."
Peter Bohnsen, one of the two founders of Unifeeder comments: "We have a clear feeling that the company will continue in the spirit we have built up around it. Unifeeder is a strong brand in the industry and Montagu is entering the company to continue the style and to further develop it. So we feel that we have found the right buyer."
Unifeeder was established in 1977 by Peter Bohnsen and Tonny D. Paulsen. The company transports more than 1.5 m TEU annually with its fleet of 42 vessels, and calls at 25 ports across the Nordic Region, the Baltic States and Russia. Unifeeder is headquartered in Aarhus and employs 200 people.
Montagu Private Equity LLP is a leading private equity investor in the European mid-market with offices in London, Manchester, Paris, Düsseldorf and Stockholm. It is not the first time the UK investor has forayed into Denmark. In 2005, Montagu acquired VetXX, a manufacturer of products for veterinary professionals, from Leo Pharma, and in 2006, acquired Logstor, a world leading manufacturer of pre-insulated pipe systems.
The news was reported by financial daily newspaper Børsen and on Unifeeder's website.