Kirk Kapital sells 65% of Exxit59
Strategic Investments /26.11.2018
Kirk Kapital has sold 65% of the share capital to Ejendomsselskabet CASA, which is owned by Michael Antitsch Mortensen and constitutes the CASA Group’s property company for long-term real estate investments. Following the sale, Ejendomsselskabet CASA owns 75% of Exxit59, while Kirk Kapital continues as a minority shareholder with 25% of the share capital.
The sale is a continuation of the partnership entered into in 2010, when Ejendomsselskabet CASA acquired 10% and Michael Mortensen assumed the chairmanship.
The sale of the majority shareholding in Exxit59 is in line with Kirk Kapital’s strategy of owning large minority holdings in well-run companies with good long-term potential, in partnership with competent co-shareholders.
“With the sale of a majority to the property company CASA, we complete the journey on the ownership side we initiated in 2010 when Michael joined the shareholder group. Under Kirk Kapital’s ownership, and with Michael Mortensen as chairman and minority shareholder, Exxit59 has been in rapid development and we look forward to supporting the continued development of the area”, says the CEO of Kirk Kapital, Kim Gulstad.
Exxit59 is one of Denmark’s largest commercial parks located at exit 59 north of Vejle at the intersection of the E45 motorway and Midtjyske Motorvej (route 18). The business park has a leased area of more than 87,000 m2 and the tenants include companies such as PwC, McDonalds, Lagkagehuset, Danske Fragtmænd, BCA Bilauktion, HAVI Logistics and Moss Copenhagen, just to name a few.
Exxit59 has undergone rapid development in recent years with many new tenants in a number of different industries.
“Exxit59 today has a balance of just under DKK 1 billion and more than 30 tenants. We have 1,000 jobs and well over 125,000 visitors each month. In the past year alone we have welcomed KFC, Imbox and Enzo & C. and I believe that with Exxit59’s unique location and good access conditions, we will see growth and new tenants in our business areas, and I am very much looking forward to continuing this growth and development of Exxit 59 together with Kirk Kapital based on the same values and approach to date,” states Michael Mortensen, Chairman of Exxit59.
The Exxit59 business park has tenants in the fields of restoration, logistics, office and business. Exxit59 owns undeveloped land equivalent to approx. 115 hectares with approx. 220,000 m2 of building rights to use for potential expansion of the current commercial park.
About CASA Group
CASA Group is the collective term for a number of property development and investment activities ultimately owned by serial entrepreneur Michael Antitsch Mortensen. From its headquarters in Horsens and with a wide-ranging network in the property industry, CASA Group develops and builds residential and commercial properties in all parts of Denmark, often in partnership with pension funds, private equity funds, family funds and wealth managers. CASA Group also owns and manages a large property portfolio consisting primarily of well-located areas and commercial properties in Aarhus, Horsens and Vejle, and has established and invested in a number of companies, including the type-house company Hybel A/S and the construction company CASA A/S.
Michael Mortensen, Ejendomsselskabet CASA A/S, +45 40 60 57 99
Morten Huse Eikrem Jeppesen, PressConnect for Kirk Kapital, +45 53 85 07 70