Lego owners in billion kroner Falck buyout
Kirkbi – the holding and investment company of the Kirk Kristiansen Family, the owners of Lego – is consolidating its ownership in the emergency and assistance company Falck.
Kirkbi has paid a billion kroner amount to buy out three existing shareholders: two Danish pension funds, ATP and PFA, and Swedish insurance company Folksam.
”We are pleased to have the opportunity to increase our stock ownership in Falck, a company we see as well run with good long-term growth potential,” Søren Thorup Sørensen, the investment head of Kirkbi, told Børsen business newspaper.
A decade of growth
With the buyout, Kirkbi now owns almost 30 percent of Falck, while the industrial fund, Lundbeckfonden, remains a majority share owner with 57 percent. Following the deal, Falck has been valued at an estimated 10 billion kroner.
Allan Søgaard Larsen, the head of Falck, praised the former owners, particularly ATP, for its involvement in Falck over the past decade.
“The role that ATP played has been fantastic and has helped stabilise our political situation. And selling to an investor that all of Denmark looks up to can’t be any better,” Larsen said.
Falck, which has been expanding rapidly over the past decade, has enjoyed 13 percent annual growth over the past eleven years.