The Nordic private equity fund FSN Capital has acquired HusCompagniet – Denmark’s leading producer of single-family homes.
HusCompagniet is the leading standardised, single-family house builder in Denmark. The Company has developed a proven conceptualised business model based on lean processes, uniform principles, a standardised outsourcing model and a structured, guided sales process. Today, HusCompagniet has an 18% market share. In 2010, HusCompagniet had a turnover of approx. 1 billion Danish kroner with an EBITDA (earnings before interest, tax, depreciation and amortisation) of 101 million Danish kroner. In comparison to the previous year, turnover increased by 26 percent and profit by 15 percent.
‘HusCompangiet has demonstrated its ability to remain profitable and increase market share significantly during the general slowdown in the housing construction market. The Company has built a strong brand by delivering high quality single-family houses with great value for money. Together with its strong management team we are ready to develop the company further,’ says Thomas Broe-Andersen, partner at FSN Capital in Copenhagen.
Steffen Baungaard, the CEO of HusCompagniet, is excited about exploring further growth opportunities.
‘With our continuous focus on the customer and our strong concept we can offer high quality houses at very competitive prices; both when it comes to new developments or replacing an old house by tearing it down and rebuilding it with a new one from HusCompagniet’, says Steffen Baungaard.
During 2010 approximately 10% of sales have been to families with existing houses that were replaced by new build houses and the CEO expects that this market will grow further in the coming years. It is this development and the continued expansion both in Denmark and internationally that FSN Capital believes in and will be supporting over the coming years.