DC Advisory & Danske Bank acted as joint financial advisors to EQT and Molslinjen on the acquisition of ForSea

Background

• Founded in 1996 and headquartered in Sweden, ForSea operates the Helsingborg-Helsingør ferry service - part of the Öresund Region’s 'floating bridge'- with a fleet of five vessels
• ForSea’s ferries are an integral part of the Nordic transportation infrastructure network taking over six million passengers, one million passenger cars and 450,000 freight trucks over the strait every year
• Molslinjen is Denmark's largest passenger ferry company with over 1,200 employees and 15 vessels serving over eight million people per year across nine routes and is fully backed by EQT
• EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership

Process

• DC Advisory (DC) and Danske Bank were engaged by EQT to act as financial advisors in the acquisition of ForSea 
• DC leveraged its extensive experience to contribute to several detailed work streams, including:
  • due diligence coordination;
  • business plan formulation and analysis;
  • financial modelling and valuation;
  • drafting of Investment Committee materials; and
  • supporting negotiations with the seller and its advisors

Outcome

• The acquisition closed on January 26, 2023 amidst a challenging macro environment 
• This acquisition will create a leading Nordic ferry platform, an integral part of the Nordic transportation infrastructure network, leading the way towards more sustainable transportation utilising ForSea’s strong credentials in this area
• The acquisition is EQT’s third investment in the passenger ferry space, including the acquisition of Molslinjen in 2021, on which EQT was also advised by DC and Danske Bank
• This transaction demonstrates DC’s ongoing expertise in transportation infrastructure and strengthens the firm’s track record in advising on Nordic Infrastructure transactions