Danica Pension acquires a minority shareholding of DKK 400 million in Unifeeder from Nordic Capital | Nordic Capital

Danica Pension acquires a minority shareholding of DKK 400 million in Unifeeder from Nordic Capital

JUNE 27 2014

Danica Pension will become a minority owner of the logistics company Unifeeder together with the majority owner Nordic Capital Fund VIII ("Nordic Capital"), through the acquisition of DKK 400 million of Unifeeder shares from Nordic Capital. The investment is Danica Pension's first major direct investment in a Danish company.

"We are happy to have been given this opportunity to invest in Unifeeder. It is a well-managed company that has consistently delivered strong results, has significant long-term growth potential and fits well with our investment strategy," says Jacob Aarup-Andersen, CFO, Danica Pension. He adds: "Going forward, Danica Pension will invest significantly more into well-managed companies with a clear strategy, and with managers and owners we trust in. Unifeeder is a good example of this. We see a potential for double-digit billion amounts in the market for direct investments."

Nordic Capital welcomes Danica Pension into the group of owners

Unifeeder has developed rapidly under Nordic Capital's ownership during the last year, establishing itself as the largest independent pan-European feeder and short sea operator through the acquisition of United Feeder Services.

"Nordic Capital welcomes Danica Pension as a long-term shareholder in Unifeeder. Their investment is a vote of confidence in Unifeeder and in Nordic Capital's ability to further develop the company," says Kim Gulstad, Principal, NC Advisory, advisor to the Nordic Capital Funds.

Unifeeder is also pleased that Danica Pension has become minority owners.

"When a reputable company such as Danica Pension, which manages pension funds for thousands of Danes, chooses to invest in us, it is a further endorsement of our company and what we stand for. It puts high expectations on us to continue to deliver good results - expectations which we look forward to meeting," says Jesper Kristensen, CEO, Unifeeder.

Stable external conditions essential for growth

"Unifeeder's growth ambitions are closely linked to the conditions for 'The Blue Denmark'[1])," says Jesper Kristensen, CEO Unifeeder.

"Stable market conditions are a prerequisite for growth in our globalised industry. Denmark is a leading centre in the maritime world, safeguarding thousands of jobs and providing the conditions for a skilled workforce in this country - all important fundamentals for Unifeeder's current high growth ambitions," says Jesper Kristensen.

Danica Pension has also considered these potentials.

"For us, it is about providing stable solid returns to our customers. So when we invest directly in a Danish company like Unifeeder, we obviously consider both the possibilities for developing the company further and also the conditions in the industry in which the company operates. We are attracted to the combination of Unifeeder and its strong industry position in 'the Blue Denmark'," says Jacob Aarup-Andersen.

[1]The Blue Denmark is a term used for all maritime companies and professions in Denmark, such as: The shipping companies, ship yards, industry suppliers, off shore companies, educational institutions and authorities, together creating the most globalised profession in Denmark.

For further information, please contact:

Danica Pension: Jacob Aarup-Andersen, CFO
tel: + 45 4513 1200

Nordic Capital / NC Advisory: Kim Gulstad, Prinicpal
tel: +45 3344 7750

Unifeeder: Jesper Kristensen, CEO
tel: +45 8883 0000

About Danica Pension
Danica Pension is one of the leading Nordic companies within pensions, life insurance and health insurance. Danica Pension's customers include more than 13,000 companies and 850,000 individuals. The company manages total pension assets of about DKK 330 billion. For more information see www.danicapension.dk

About Nordic Capital
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. Additional information about Nordic Capital is available at www.nordiccapital.com

About Unifeeder
Unifeeder is an asset-light logistics company and a leading pan-European feeder and short sea operator. Unifeeder's feeder operation serves all the largest global container shipping and transports containers between more than 80 regional ports ranging from Northern Europe, the Mediterranean / North Africa to the Black Sea and the Levant. This activity is complemented by the company's inter-european multimodal short sea product to arrange door to door transport across Europe for a broad portfolio of shippers and cargo types. Unifeeder was established in 1977 and is headquartered in Aarhus, Denmark. The Group is present in more than 30 countries through its own offices and partners and operates 60 ships which handle about 12,000 harbor entrance and transports up to 3.5 million TEUs annually. Read more at www.unifeeder.com