Adelis takes majority stake in Green Team Group

Though the size of the deal was not disclosed, Green Team announced Adelis's investment would give the business access to several hundred million krone to help the Søndre Omme-based group expand its operations and reach its target of doubling sales by 2020.

The deal was made through Adelis Equity Partners Fund I, which closed on €420m in 2013. As part of the deal, CCO Hans Schultz will become CEO, while current CEO Peder Østbjerg will continue as a member of Green Team's board.

Mads Vemmelund was appointed as new CFO from a previous position as business controller at Top-Toy.

Company
Founded in 1992 as Brdr Majlands Planteskole, Green Team produces and sells Christmas trees, seedlings and decorations across Europe, with production in Denmark, Poland, Scotland and France.

Headquartered in Søndre Omme, Denmark, the company distributes its products directly to European retailers, recording a turnover of DKK 247m in 2013, with an EBITDA of DKK 152m.

People
Partner Steffen Thomsen worked on the deal for Adelis. Peder Østbjerg is the current CEO of Green Team, while CCO Hans Schultz will take over when the deal is completed. Mads Vemmelund will become the new CFO.

Advisers
Equity – Bruun & Hjejle (Legal); PwC (Commercial & financial due diligence, tax).
Vendor – Handelsbanken (Financial due diligence); Deloitte (Commercial due diligence); Plesner (Legal)

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