Pierre Legarth and Maj Invest Equity have sold their shares in pierre.dk Autolakering A/S, the largest auto paint service provider in Europe, to the Intelligent Repair Solutions Group, based in Hamburg, Germany
Intelligent Repair Solutions Group is the leading car body repair service provider in Germany, wholly-owned by Swiss private investor group Ufenau Capital Partners AG and the management.
Maj Invest Equity invested in pierre.dk in 2010 and developed together with the founder and CEO Pierre Legarth an ambitious growth strategy focusing on securing the second-to-none position in the Danish market as well as establishing comparable platforms in Sweden and Germany. In 2015 Pierre Legarth took the position as Chairman of the Board and Bo Jacobsen and Stefan Hansen took over the daily management and continued the successful expansion of pierre.dk
Today pierre.dk provides service in 37 branches – 23 in Denmark, 10 in Sweden, and 4 in Germany – and the total number and geographical coverage are expected to increase further through a continued focus on excellent customer service and high quality. Intelligent Repair Solutions Group serves its customers, more than 5,000 car dealers and all major insurance companies, in more than 30 branches and with over 220 mobile units all over Germany.
“We have during our ownership period been very impressed by pierre.dk and the entire team behind. Being able to sustain the leading position in Denmark and leverage on the efficient and experienced Danish backbone across boarders has created a very successful and industry-leading service company.”
“Taking pierre.dk to the next growth level has been yet another proof on how we work with companies and strong management teams in Denmark” says Jan Hove Sørensen, Partner at Maj Invest Equity.
To the Founder and Chairman of the Board, Pierre Legarth, the divestment marks the end of +30 years ownership, but however, he will remain an active part of pierre.dk as Chairman:
“Today holds a set of mixed emotions. On one hand, I am sad to be ending, from an owner’s perspective, my involvement in a company that I have been blessed to be part of from the very beginning. However, fortunately, through the agreement with Ufenau Capital Partners I will continue to play an active part in pierre.dk with focus on the Danish operations and therefore still be able to accompany and influence the future development. Further in addition, I am very excited to leverage and be challenged by the experience that Intelligent Repair Solutions Group management team bring to the table.”
Managing Partner from Ufenau Capital Partners, Ralf Flore, also comments on the transaction:
Take it to the next stage
“We have followed the impressive development of pierre.dk for a longer period. The company complements our car body repair and paint service activities of our Intelligent Repair Solutions Group very well. In combination with our market expertise and our customer relationships in Germany we are very much looking forward to take our Intelligent Repair Solutions Group together with pierre.dk into the next stage of its growth journey.”
ABG Sundal Collier has been financial advisor to the sellers, whereas Bech-Bruun has been legal advisor.