Adelis sells Mobilhouse to consortium led by LEGO’s family office

Kirk, which represents toymaker Lego's founding family, will hold 50% in the business, according to a press release.

Steffen Thomsen, new chairman of Mobilhouse and senior advisor to Adelis, told Unquote that he and Martin Mikkelsen will hold the remaining 50% stake in the business.

Adelis invested in the company in 2019 via Adelis Equity Partners Fund II, which raised EUR 600m in 2017, according to Unquote Data.

During Adelis’ tenure, Mobilhouse shifted towards a 100% rental model. The business has DKK 115.8m (EUR 15.5m) in annual revenue, according to Kirk’s website. The latest financial filings for the business show 2021 net profit of DKK 73.4m (EUR 9.8m).

Under the new owners, the company will focus on increasing its rental fleet, growing rental income in Denmark as the main region for now, Thomsen said.

According to a source familiar with the situation, the investment is in line with Kirk’s overall strategy, which focuses on taking large minority stakes in Scandinavian B2B businesses. The firm plans to further expand Mobilhouse’s product portfolio, tapping the demand for modular construction as an effective and sustainable way of meeting the need for additional construction in both public and private settings, the source added.

Kirk Kapital declined to comment.

Company
Founded in 1961 under the name Fredercia Skurvogne, Mobilhouse is a provider of temporary modular buildings for offices, schools and kindergartens.

Advisors
Adelis – Carnegie (financial); Kromann Reumert (legal).
Kirk Kapital – Deloitte (financial); Bruun & Hjejle (legal).

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• Topics
• Exits
• Buyouts
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• Denmark