BWB Partners exits Qubiqa Logistics

The sale sees BWB fully relinquish its stake in Qubiqa, further reducing the legacy portfolio of Odin Equity Partners I, the first fund raised by BWB before it rebranded from Odin Equity Partners in December 2015. However, the fund will retain ownership of the remainder of Qubiqa Group, which includes Qubiqa Automation.

As part of the rebranding Odin repaid LPs wishing to exit its two struggling funds and rolled over the investments of Odin into a recapitalised new structure.

BWB partner Esben Bay Jørgensen said in a statement the investment had been "excellent" for the GP, but was unreachable for additional comments. According to the same statement, Qubiqa has doubled its revenue over the past five years and shown solid profitability.

The exit is BWB's second sale this year, having sold Danish freight forwarding business Scan Global Logistics in a DKK 1.1bn EV deal in May.

Previous funding
BWB – then Odin Equity – first acquired what would become Qubiqa in 2008, through the buyout-merger of Univeyor, QLS and Jokan Service.

Following the bolt-on of Seelen in 2010, the company was renamed Qubiqa.

Company
Headquartered in Arden, Qubiqa makes automated material handling and order picking systems for warehouses.

The company employs a staff of 92.

People
BWB Partners – Esben Bay Jørgensen (partner).

Advisers
Vendor – Danske Bank (corporate finance); AT Kearney (commercial due diligence); Lett (legal); Deloitte (tax).

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