Montagu Private Equity announces the acquisition of DEAS


London | 16 June 2015

Montagu Private Equity (“Montagu”), a leading European private equity firm, announces today an agreement to acquire DEAS Holding A/S (“DEAS” or “the Company”), the leading property manager and related services provider in Denmark, from its shareholders PKA and Sampension, two of Denmark’s largest pension funds. Terms of the deal are not being disclosed. Completion of the transaction is subject to customary regulatory approvals.

Founded in 1989, DEAS is today the market leading provider of property services for institutional and private real estate investors in Denmark.  In addition to Property Management, the Company offers Technical Building Consultancy, Facility Services, Real Estate Agency Services and Property Asset Management Services. DEAS serves more than 1,000 clients and manages assets with a total value in excess of €15 billion including 82,000 rental units in more than 2,100 properties with a total of 7 million square metres. The Company is headquartered in Copenhagen with offices in Aarhus and Aalborg which secures coverage of most parts of Denmark. Management is led by CEO Henrik Dahl Jeppesen.

The Danish property management market is expected to grow strongly driven by an increase in the number of properties on the market, a mix shift towards institutionally owned rental properties and the further penetration of outsourced property management services due to increasing complexity and regulation. DEAS is well positioned to benefit from these market dynamics. In addition, DEAS will continue to broaden its service offering and strengthen its position as the provider of choice in the Danish market.

Henrik Dahl Jeppesen, CEO of DEAS, said:
“DEAS has gone from strength to strength over the years to become the leading property manager and related services provider in Denmark. There is real potential for further growth and we look forward to partnering with Montagu, benefitting from their experience of supporting companies they invest in and to leverage the opportunities that lie ahead.”

Mads Hansen, Director at Montagu Private Equity, commented:
“DEAS is an exciting and typical investment for Montagu, with solid growth prospects and a strong management team to back. Market characteristics are favorable and we look forward to supporting Henrik and his team in further establishing DEAS as the leading provider of property management and related services in the Danish market.”

Michael Nellemann Pedersen, CIO of PKA, commented:
“PKA established DEAS in 1989 and has been a majority shareholder and client ever since, and we have helped the Company develop into one of the country’s leading property managers. Montagu is the optimal owner for DEAS going forward and will be a strong business partner in the next stage of the Company’s development. At PKA, we have high expectations regarding our continued cooperation with DEAS in both the property segment and within PPP.”
 
Hasse Jørgensen, CEO of Sampension, commented:
“We have valued our cooperation with DEAS highly, as co-owner throughout 13 years, but also as a client of the Company over the years. DEAS has during this time developed extremely positively and Montagu is now the optimal match to take the Company to the next level. We will continue to rely on DEAS' strong and efficient high quality property management skills to the benefit of Sampension’s clients. Moreover, our partnership with PKA and DEAS in our joint PPP consortium on construction, operation and funding of building-related PPP projects in Denmark will also continue."