M&A

Plesner is one of the clear market leaders in Denmark in corporate M&A transactions. We advise Danish and international clients on all types of large-scale mergers and acquisitions, and investments. We have extensive experience in providing M&A-related advice to all players in the market, including industrial, institutional and private equity investors as well as state-owned companies and local authorities. We have been involved in a substantial number of cross-border transactions and handled a wide array of the biggest and most complex transactions in Denmark.

Our experience and strong competences are key factors in offering our clients advice that adds maximum value.

According to Mergermarket, Plesner is the Danish law firm involved in the highest number of mergers and acquisitions in the period 2000-2015. Year after year, we are given top ratings by the most prominent international rating agencies such as The Legal 500, Chambers and International Financial Law Review.

Our constant focus on maintaining and developing our very high level of specialisation, industry-specific knowledge and in-depth expertise in individual sectors, means that we feel more than adequately prepared for our role as the preferred M&A advisor in Denmark.

Our market position as M&A advisors in very high demand is the result of a determined focus on market leadership regarding not only M&A but also other types of legal advice. We endeavour to provide legal, tactical and commercial advice that meets international standards at all stages of the M&A processes.

All our employees work at our premises in Copenhagen. This means that our skills and competences are literally all available under one roof. That makes it possible for us, in spite of our size, to work in close interaction with all our specialists at all times. We view this as essential for all transactions in which not only M&A advice but typically also the close involvement of other specialists play a pivotal role for our clients' success in relation to, for instance, due diligence, tax advisory services, employee incentive programmes etc.

We assign a team of experts tailored to suit the specific needs of the client in relation to the individual transaction. Whenever required by a transaction, we can quickly and easily adjust our team and involve new specialists to any necessary extent.

We maintain strong foreign relations by virtue of our large, international, external network. Internally, as well, we are renowned for our special international experience. The vast majority of our M&A partners and senior attorneys have completed supplementary educational programmes and/or have worked abroad at highly-regarded institutions of higher education and law firms. This experience in international transactions, for instance from work with foreign-based clients and advisors, adds optimum dynamics to any given transaction.

Our advisory services - customised quality

As a law firm, our core competences are typically centred on legal advice. However, as M&A advisors, our skills and competences are much more than that:

  • We go to great lengths to understand our clients' business and specific needs in order to provide advice that helps achieve optimum value creation, legally as well as commercially
  • We look far beyond the strictly legal aspects, taking active part in negotiations and tactical considerations at all stages of the transaction
  • We collaborate closely with our clients’ other advisors, including commercial and financial advisors, and the clients’ auditors, all to ensure optimum knowledge sharing and information flow throughout the process. We are used to multi-tasking
  • We constantly take a critical approach to all elements of the transaction to optimise the process and identify any challenges before they turn into problems
  • We are accessible at all times and understand the importance of fast and clear communication between client and advisor
  • We carefully allocate our employees and other resources to the individual transaction optimise conditions for offering relevant and valuable solutions. We draw on our experience as an advisor to all types of Danish and international players; the buyers, investors and sellers in the M&A processes. Everything is handled by the most suitable team of people, who understand not only the client, but also the opposing party
  • If warranted by the value or a relatively low complexity of a given transaction, we do not mind taking active steps to recommend a more standardised type of advice and approach. In so doing, we offer the best balance between needs and costs. In our experience, though, unforeseen challenges can arise in even apparently straightforward processes. In that case, we are always prepared to shift gears if required.  
Our advisory services are always rooted in clients’ interests and adapted to specific circumstances. We continuously challenge force of habit and conventional thinking in the M&A process. We also challenge our clients' assumptions when relevant.

Focus on long-term relations

We focus on maintaining long-term relationships with our clients. We invest the necessary time and allocate the necessary resources to gain understanding of each client's business and special circumstances.

We also prioritise very active partner involvement and ensure that the assigned team have the right chemistry with the client as well as a full understanding of the client's needs and internal processes.

We consider it our duty to constantly examine and draw attention to all aspects that may affect the client's assessment of the cases. Even if this means that all or part of our own advisory services become superfluous. If, for instance, the terms of a transaction have changed in such a way that the execution of the transaction, in our view, would not be in the client's best interests, or if we find that the process should be reconsidered, we always propose alternative solutions.

Selected highlights

  • Netcompany - advisor to FSN Capital, the Nordic private equity firm, in connection with FSN Capital's acquisition of a controlling interest in Netcompany, the Danish IT company
  • Dagbladet Børsen - advisor to Bonnier, the Swedish media group, in connection with Bonnier's sale of the Danish business daily Dagbladet Børsen to JP/Politikens Hus
  • Capital Four - advisor to Northill Capital, the UK-based asset management business, in connection with Northill's acquisition of a controlling interest in Capital Four, the Copenhagen-based leading credit asset management boutique
  • TOP-TOY - advisor to the owners of TOP-TOY, the Danish major toy retailer, in connection with the sale of 75% of TOP-TOY to EQT, the Nordic private equity fund
  • Shell's Danish downstream activities - Statoil Fuel & Retail's (now Circle K) acquisition of Shell's Danish downstream activities and Circle K's subsequent remedy sale of certain downstream activities to DCC Holding
  • HusCompagniet - advisor to EQT, the major Nordic private equity fund, in connection with EQT's acquisition of HusCompagniet, the leading Danish single-family brick house retailer, from FSN Capital
  • Joe & the Juice - advisor to General Atlantic, US-based private equity firm, in connection with General Atlantic's investment in Joe & the Juice, the Danish/international juice and coffee bar
  • Falck (alarm portfolio) - advisor to Verisure in connection with Verisure's acquisition of the monitored alarm portfolio and a number of operational assets in Denmark and Norway from Falck, the Denmark-based provider of assistance, emergency, healthcare and safety services
  • Danmarks Skibskredit (Danish Ship Finance)- advisor to the major shareholders of Danish Ship Finance - Danske Bank, Danmarks Nationalbank, A.P. Møller-Mærsk and Nordea Bank - in connection with the sale of Danish Ship Finance, the Danish provider of ship financing services, to Axcel, PFA and PKA
  • Nordea Liv & Pension - advisor to Nordea Life Holding AB and Nordea Liv & Pension, livsforsikringsselskab A/S in connection with the sale of 25% of Nordea Liv & Pension, livsforsikringsselskab A/S, the Danmark-based provider of life insurance and pension services, to Foreningen NLP representing the customers of Nordea Liv & Pension
  • All highlights

  • A.P. Møller-Mærsk's handy gas business - Navigator Holding's acquisition of A.P. Møller-Mærsk's handy gas business
  • Advis - Intrum Justitia's acquisition of Advis
  • Aireon - Navair's and IAAA's participation in investment in Aireon
  • Altapay - founders' sale of Altapay to Valitor
  • Anson Packaging Ltd. - Færch Plast Group's acquisition of Anson Packaging Ltd.
  • AP Pension - AP Pension's merger with the multi-employer pension fund the Danish Finance Sector's Pension Fund, FSP
  • ApodanNordic - Pharmapackaging A/S Fagron Group BV's acquisition of ApodanNordic Pharmapackaging A/S
  • ASM Foods - AB Barry Callebaut's acquisition of ASM Foods AB, Sweden
  • Atlas Rederi - advisor to the bankrupt Atlas Holding in relation to the sale of Atlas Rederi
  • Axcess A/S - sale of IT company Axcess to Atea
  • Baresso - advice to the company and the owners of Baresso in connection with the sale of the Danish coffee shop chain to JAB Holding Company
  • Billetlugen - Solstra's sale of Billetlugen to Nordisk Film
  • Biofac Esbjerg A/S (now ZPD) - Zeria Pharmaceutical Ltd.'s acquisition of Biofac Esbjerg A/S
  • Bluegarden - Marlin Equity Partners' acquisition of Bluegarden
  • Broadcast Service Danmark - TV2's and the Danish Broadcasting Corporation's sale of broadcast towers and related infrastructure to Teracom
  • Brøndums - Ratos' sale of Brøndums
  • BTX - EQT's sale of three BTX clothing divisions to DK Company
  • BTX Group - EQT's sale of clothing group BTX Group to Sun European Partners
  • Capital Four - advisor to Northill Capital, the UK-based asset management business, in connection with Northill's acquisition of a controlling interest in Capital Four, the Copenhagen-based leading credit asset management boutique
  • Chr. Hansen - Novo's acquisition of 25% of Chr. Hansen
  • Cimber Air - SAS' acquisition of Cimber Air
  • Cimber Sterling A/S - Mansvell Enterprises Ltd.'s acquisition of a majority shareholding in the listed Danish regional airline company Cimber Sterling A/S
  • Clio Online - ApS Bonnier Business Press AB's acquisition of Clio Online ApS
  • Clipper Group - the former Nordic Tankers' acquisition of Clipper's activities in the product tanker segment
  • ComX Networks - sale of TV and broadband provider Comix Networks to TDC
  • Contera Pharma ApS - sale by Novo A/S and others of Contera Pharma ApS
  • Dagbladet Børsen - advisor to Bonnier, the Swedish media group, in connection with Bonnier's sale of the Danish business daily Dagbladet Børsen to JP/Politikens Hus
  • Dan-Aktiv/Finaref - Resurs Bank's (portfolio company owned by Nordic Capital) acquisition of Dan-Aktiv and Finaref from Credit Agricole
  • Dan-Corn A/S - Sukup Corporation's acquisition of Dan-Corn A/S
  • Danisco A/S - DuPont's take-over of Danisco (by way of a public take-over bid)
  • Danmarks Skibskredit (Danish Ship Finance) - advisor to the major shareholders of Danish Ship Finance - Danske Bank, Danmarks Nationalbank, A.P. Møller-Mærsk and Nordea Bank - in connection with the sale of Danish Ship Finance, the Danish provider of ship financing services, to Axcel, PFA and PKA
  • Danske Færger - establishment of Danske Færger through a merger between Bornholmstrafikken A/S, Sydfynske A/S (which was an indirectly wholly-owned subsidiary of Clipper Group A/S) and Færgen
  • DiBa Bank - Sydbank's acquisition of DiBa Bank (by way of a public take-over bid)
  • DONG Energy A/S  - raising of DKK 11 billion worth of new share capital in DONG Energy from Goldman Sachs, ATP and PFA in one of the largest private placements in Europe ever
  • Easy Film A/S - Eyeworks' acquisition of Easy Film A/S
  • e-conomic A/S - HG Capital's acquisition and subsequent sale of IT company e-conomic A/S
  • EET Europarts Group - private equity fund Alipes' sale of EET Europarts to FSN Capital Partners
  • EgnsINVEST - Sparinvest's acquisition of EgnsINVEST
  • Ellegaard A/S and API - Capidea's acquisition of controlling interest in Ellegaard A/S and API
  • Epitherapeutics A/S - Gilead Sciences Inc.'s acquisition of Epitherapeutics A/S
  • Europarts S.A. - EET Nordic's acquisition of Europarts S.A.
  • Exhausto A/S - Axcel's take-over of ventilation manufacturer Exhausto A/S from VKR Holding
  • EY - advisor to EY in the merger between audit firms EY Danmark and KPMG Danmark
  • Falck (alarm portfolio) - advisor to Verisure in connection with Verisure's acquisition of the monitored alarm portfolio and a number of operational assets in Denmark and Norway from Falck, the Denmark-based provider of assistance, emergency, healthcare and safety services
  • Falck A/S - advisory services to the management of Falck in connection with the sale of Falck A/S to the Lundbeck Foundation
  • FIH Erhvervsbank A/S - acquisition of FIH Erhvervsbank by ATP, PFA, Folksam and Christian Dyvig
  • FIH Erhvervsbank A/S demerger and sale of FIH Erhvervsbank's property portfolio of DKK 17 billion to Finansiel Stabilitet A/S
  • Færch Plast A/S EQT's acquisition of Færch Plast A/S
  • Gastech Energi A/S - Ariston Therma's acquisition of Gastech Energi A/S
  • Glud & Marstrand - Envases Universales de México's acquisition of Glud & Marstrand from AAC Capital Partners
  • Green Team Group - sale of Green Team Group to Adelis Equity PartnersFund I
  • Hafnia Tankers ApS - merger of the activities of Hafnia Tankers ApS (owned by, i.a, Barclays) and BTS Tanker Partners LLC (owned by, i.a. Blackstone and Tufton Oceanic) under the name of Hafnia Tankers ApS
  • HusCompagniet - advisor to EQT, the major Nordic private equity fund, in connection with EQT's acquisition of HusCompagniet, the leading Danish single-family brick house retailer, from FSN Capital
  • IC Companys (IC Group) - sale of the listed fashion group's mid-market division to DK Company
  • IMCL Holding Ltd. and others - Unifeeder's acquisition of IMCL Holding Limited and others
  • Jernstøberiet Danica - Mat Holding's acquisition of Jernstøberiet Danica
  • Joe & the Juice - advisor to General Atlantic, US-based private equity firm, in connection with General Atlantic's investment in Joe & the Juice, the Danish/international juice and coffee bar
  • Joe & the Juice - founders Kaspar Basse's and Johan Wedell-Wedellborg's sale of the juice bar chain “Joe & the Juice” to the Swedish private equity fund Valedo
  • Kelsen Group - acted for United Biscuits in its endeavours to acquire Danish biscuit giant Kelsen Group as part of a structured auction process
  • KMD A/S - Advent International's acquisition of KMD A/S
  • Libratone - founders' and SEED Capital's sale of Libratone to a consortium of Chinese investors
  • Louis Poulsen Lighting A/S - sale of Louis Poulsen Lighting A/S to Polaris
  • Maersk LNG A/S - Teekay's and Marubeni's acquisition of Maersk LNG from A.P. Møller Mærsk
  • Medical Insight A/S - Karos Health Inc.'s acquisition of Medical Insight A/S
  • MetroXpress A/S - Tamedia AG's acquisition of MetroXpress A/S
  • Mette Munk A/S - Aryzta AG's acquisition of Mette Munk A/S
  • MissionPharma - Eurapharma's acquisition of MissionPharma
  • Momondo A/S - Cheapflights' acquisition of Momondo A/S with the world-famous search portal
  • Netcompany - advisor to FSN Capital, the Nordic private equity firm, in connection with FSN Capital's acquisition of a controlling interest in Netcompany, the Danish IT company
  • Noa Noa Group - Acquisition of Noa Noa from Axcel and subsequent restructuring of Noa Noa
  • Nordea Liv & Pension - advisor to Nordea Life Holding AB and Nordea Liv & Pension, livsforsikringsselskab A/S in connection with the sale of 25% of Nordea Liv & Pension, livsforsikringsselskab A/S, the Danmark-based provider of life insurance and pension services, to Foreningen NLP representing the customers of Nordea Liv & Pension
  • Norican Group (DISA) - private equity fund Mid Europa Partners' sale of Norican Group (DISA) to Altor
  • Nycomed A/S - Nordic Capital Group's sale of Nycomed to Takeda
  • Nørresundby Bank - Nordjyske Bank's take-over of Nørresundby Bank (by way of a public take-over bid and subsequent merger)
  • OW Bunker - sale of activities from the estate in bankruptcy of OW Bunker
  • Paramedical A/S - Cederroth International AB's acquisition of Paramedical A/S
  • Post Nord - merger between Post Danmark A/S and Posten AB
  • Privathospitalet Hamlet - Aleris AB's acquisition of Privathospitalet Hamlet
  • Procom A/S - Amphenol Coorporation's acquisition of Procom A/S
  • Rehfeld Partners A/S - IMS Health Holdings. Inc's acquisition of Rehfeld Partners A/S and Effektor A/S
  • Rose Poultry A/S - HKScan OY's acquisition of Rose Poultry A/S
  • Sanovo Greenpack Embalagens do Brasil Ltda - Brdr. Hartmann's acquisition of Sanovo Greenpack Embalagens do Brasil Ltda from Lactosan-Sanovo Holding A/S
  • Santaris Pharma A/S - sale by Sunstone Capital, Novo A/S and others of Santaris Pharma A/S to Roche
  • Saxo Bank A/S - General Atlantic's sale of shares in Saxo Bank A/S to private equity fund TPG
  • Saxo Payments - advisory services to founders, management and shareholders on capital and ownership structure
  • Scandlines - sale of ferry company Scandlines
  • Scan-Speak A/S - sale of Scan-Speak A/S to Eastern Asia Technology (HK) Limited
  • Selco A/S - Littelfuse's acquisition of Selco A/S
  • SFK Food A/S - Solina Sfinc's acquisition of ingredients producer SFK Food A/S as a Nordic platform investment
  • Shell's Danish downstream activities - Statoil Fuel & Retail's (now Circle K) acquisition of Shell's Danish downstream activities and Circle K's subsequent remedy sale of certain downstream activities to DCC Holding
  • Siminn DK A/S - Skipti hf's sale of Siminn DK A/S to Telia A/S
  • Skagen Designs - sale of Skagen Designs to US company Fossil
  • Skalflex A/S - Parex Group's acquisition of Skalflex A/S
  • SMA Solar Technology AG - Danfoss A/S' acquisition of 20% of SMA Solar Technology
  • Sparekassen Lolland A/S - Jyske Bank's acquisition of Sparekassen Lolland A/S
  • Sportmaster - Nordic Capital's acquisition of Sportmaster
  • Syd Arne (oil field) - Hess Corporation's acquisition of a share of the Syd Arne oil field
  • Team Online - sale of IT company Team Online to EG A/S
  • Telenor - contemplated merger between Telenor's and Telia's Danish businesses in a new joint company
  • TenneT Offshore DolWin3 - sale of 67% of TenneT Offshore Dolwin3
  • TOP-TOY - advisor to the owners of TOP-TOY, the Danish major toy retailer, in connection with the sale of 75% of TOP-TOY to EQT, the Nordic private equity fund
  • Trendsales - Tamedia AG's acquisition of 88% of Trendsales from its founders and Ricardo gruppen
  • Trustpilot - advisory services related to Vitruvian Partners' investment in Trustpilot
  • Trustpilot - venture investments in Trustpilot
  • Unifeeder A/S - acquisition and subsequent sale of Montagu Private Equity's Danish portfolio company Unifeeder A/S
  • Unifeeder A/S - Nordic Capital's sale of minority shareholding in Unifeeder A/S to Danica
  • Unifeeder A/S - Unifeeder A/S' acquisition of activities from Tschudi Holding A/S in a number of countries
  • Welltec - PFA's investment in Welltec
  • Xstream - Capidea's acquisition of streaming company Xstream from its founder
  • Zebra A/S - sale of Tiger retail chain to EQT 

Ratings

  •  
    Within Commercial, Corporate and M&A, Plesner is a first tier firm.
     
    Plesner has a "professional, dedicated and trustworthy" approach, with "a personal and client-friendly mindset". (2019)
  •  
    Formidable firm with an outstanding corporate practice, particularly focusing on cross-border transactional mandates. Recognised for its high volume of complex deals which often involve major Nordic private equity houses and international investors across numerous industries. Noted for its public M&A and ECM expertise, with knowledge of IPOs, public takeovers and cross-border listings. Also advises on corporate structures. Provides a full-service offering in transaction-related practice areas such as employment, IP and competition law.

    "Outstanding knowledge in M&A, corporate law, financing and ECM deals"

    "Deep cross-border capabilities"

    "First-class client relationship: always available and putting the client first"

    "Strong and experienced team that provides the relevant areas of expertise when needed, and they are very flexible in terms of timing and availability" (2019)

  • Plesner is listed in "Band 1" as regards Corporate/M&A (2019)
  • Plesner is one of Denmark’s largest and leading firms and has top tier rankings across a range of areas. 

    “It's one of the top firms in Denmark providing high quality work at a reasonable price. It has a couple of superstar lawyers supported by a strong bench of high quality partners and senior associates.”

    “It's very commercially oriented in its advice, and available at all times.”
     (2019)

  •  
    Within Commercial, Corporate and M&A, Plesner is a first tier firm.

    "Excellent" Plesner fields a 21-partner practice that has a steady track record in corporate matters and is equally at ease with the buy and sell side of transactions. (2018)
  •  
    "Very commercial and international in the way they think,"

    "Excellent, efficient and cost effective."

    "The cooperation was top notch; they are commercial, really technically skilled and good at getting to the heart of a transaction."
     (2018)
  • Recognised across the board as one of the strongest firms in Copenhagen, Plesner continues to collect plaudits for its work in all areas of practice.

    “Excellent experience in working with Plesner.”

    "Excellent knowledge, including knowledge about market standards and market practice. They have a very good standing in the market, making the processes smoother, both against the other law firms involved and the counterparty. They cover all the relevant areas in connection to a transaction, including competition law and regulatory issues. They are very service-minded and always deliver in due time and have a very good business understanding.”
     (2018)

  •  
    Plesner is listed in "Band 1" as regards Corporate/M&A. (2018)
  • Full-service firm with an outstanding corporate practice, particularly focusing on cross-border transactional mandates. Recognised for its high volume of complex deals which often involve major Nordic private equity houses and international investors and sectors such as biotech and pharmaceuticals, technology, construction and energy. 

    "We are extremely pleased with the firm's support of our business goals. Each lawyer who has assisted us has been knowledgeable and commercial in outlook."

    "They are very commercial and they are good on both the seller and buyer sides of things. They are intense, responsive, and there is a strong sense of continuity to the team." (2017)
  • Plesner is listed in "Band 1" as regards Corporate/M&A. (2017)
  • Within Commercial, Corporate and M&A, Plesner is a first tier firm

    Plesner's "efficient" practice is jointly headed by M&A expert Tue Ravnholt Frandsen; the "competent" Jacob Christensen, who advises on corporate law; and Jacob Ørskov Rasmussen, who specialises in commercial contracts. (2017)
  • One of the established top-tier firms in the Danish market. Clients point to the overall quality of the firm as an outstanding aspect of its work.

    "They deliver very solid work - they are both diligent and commercial."

    "I would be very happy to use them again, they were excellent" (2017)

  • "On the M&A front Plesner is very solid on the theoretical aspects and it has very strong practical experience. Not only does the team know what the law is, it knows how the law works in practice."
    "The quality of service is high and we receive plenty of partner attention."
     (2016)
  • Plesner is listed in "Band 1" as regards Corporate/M&A. (2016)
  • Within Mergers and acquisitions, Plesner is a first tier firm.

    Plesner provides "a high level of service" and is "a top pick in Denmark". (2016)

  • Across the board Plesner is recognised by clients and peers alike as one of the leading teams in the Danish market doing some of the most significant work.

    "Plesner are extremely responsive. The high quality of their output is equivalent to a magic circle law firm." (2016)

  • Plesner is listed in "Band 1" as regards Corporate/M&A. (2015)
  • Plesner was in April 2015 awarded a price for its role as lead counsel to DONG Energy A/S in its issuance of shares to Goldman Sachs, ATP, PFA and existing minority shareholders in one of the largest private placements in Europe ever. (2015)
  • Plesner is the Danish law firm involved in most mergers and acquisitions in the period 2000-2013, and it has managed to increase its transaction flow despite the recent downturn in this area.

    "Plesner is one of the top in Denmark. It offers a full range of expertise, which is what you need for complex M&A projects".


    Handles complex M&A assignments for leading Nordic and international clients. Acts for high-profile private equity houses, investment funds, financial institutions and industry players. Involved in some of the most significant transactions on the Danish market and is also noted for expertise in venture capital. (2014)
  • According to peers, in corporate work the firm stands with the very best in the country. Clients praise both the pragmatic advice and high levels of professionalism the team is able to offer and are impressed by the quality of the lawyers involved.

    "They have a good understanding of our business, are very responsive and produce high quality work."
    (2014)
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