Investment in container storage solutions
Strategic Investments /22.12.2019
Kirk Kapital acquires 30% of TITAN Containers A/S. TITAN is a global container storage solutions provider, with a market leading position within refrigerated container storage.
TITAN is a global container storage solutions provider, with offices in 17 countries, and services its many customers from more than 100 depots globally. In connection with the transaction, Kirk Kapital invest around DKK 140 million to support the continued growth in the rental fleet and global operations in TITAN. The transaction values TITAN at more than DKK 1 billion.
CEO of Kirk Kapital, Kim Gulstad, is excited about the opportunity to invest in TITAN.
“We are truly impressed by TITAN’s journey. From a single container sold out of Layland Barker’s garage in 1987 to a global leader within the refrigerated container storage market more than three decades later. The transaction with TITAN is a prime example of our unique partnership strategy. In this situation we partner up with a fast-growing owner-led company with high potential.” says Kim Gulstad, CEO of Kirk Kapital.
Today, TITAN has a fleet of more than 30,000 thousand containers and TITAN’s revenue is expected to be around DKK 520 million in 2019. TITAN has consistently over the last many years achieved two-digit growth rates in its container fleet.
Layland Barker, founder and CEO of TITAN retains the ownership of the remaining 70% of the shares in TITAN following the transaction.
Although the company is currently already running at full throttle, it is according to Layland Barker, highly beneficial for TITAN’s growth prospects to enter into a partnership with Kirk Kapital.
“Having Kirk Kapital as a TITAN shareholder is a quality stamp to our business and achievements to date. Kirk Kapital shares our values and I believe that their competencies and active ownership makes them an ideal partner,” says Layland Barker, CEO of TITAN
Kirk Kapital is an active minority investor looking to actively support the companies it invests in. In connection to the transaction Kim Gulstad, CEO and Andreas Færk, CIO Strategic Investments at Kirk Kapital, will join the Board of Directors at TITAN.
TITAN joins the Kirk Kapital family consisting of 11 existing partnerships, including Beck-Pack, Ferrosan Medical Devices, Kompan and Scanmetals among other.
ABG Sundal Collier and Bech-Bruun have advised the Layland Barker family and Bruun&Hjejle and Deloitte have advised Kirk Kapital in connection with the transaction. As part of the transaction Arbejdernes Landsbank has refinanced TITAN’s current debt and increased the facility to DKK 800 million.
TITAN is a global container storage solutions provider. TITAN operates five brands catering for different customer needs; TITAN Containers, ArcticStore, Self-storage, Offshore and 4People. TITAN has operations globally with head office in Høje-Taastrup, Denmark. TITAN has a total fleet of more than 30,000 containers.
Layland Barker, CEO of TITAN, +45 28 74 58 32
Morten Huse Eikrem-Jeppesen, PressConnect for Kirk Kapital, +45 53 85 07 70