Clearwater International Denmark acted as financial adviser to the owners of Årstiderne Arkitekter, on its sale to Sweco Denmark, owned by listed Swedish engineering and architecture consultancy Sweco AB.
Årstiderne Arkitekter is one of the largest architectural companies in Denmark with more than 30 years of experience within architecture and construction. The company has over 200 employees and has shown consecutive double-digit growth rates for a number of years.
Nasdaq Stockholm-listed Sweco is the largest engineering and architectural firm in Europe with more than 1,200 architects, and sales of approximately €1.7bn.
Årstiderne Arkitekter will be united in a new business unit together with Sweco Architects at Sweco Denmark. The five owners of Årstiderne Arkitekterne, Per Laustsen, Mikkel Westfall, Anders Kærsgaard, Jonas Snickert and Torben Klausen will remain as executive employees. CEO and Co-owner of Årstiderne Arkitekter, Torben Klausen, will join as Managing Director. Torben Klausen will also become a member of Sweco’s management, reporting directly to President of Sweco Denmark, Dariush Rezai.
The acquisition is subject to approval by the Danish competition authority.
The Clearwater International team consisted of Associate Partner Jakob Tolstrup Kristensen, Partner Søren Nørbjerg, Associate Director Jesper Agerholm and Associate Jesper Pedersen.
“At Årstiderne Arkitekter we have spent more than 30 years building a successful architectural consultancy which has seen considerable development and growth in recent years. Today we have the right level and expertise, the right customers, and the right employees with the right spirit. The reason why, we are open to an acquisition, is that our present state and ownership are not ideal as a starting point for further development. An acquisition was simply put the only rational step to our next stage of growth. We are therefore pleased to become part of a larger family, where we can fully picture ourselves.”
Torben Klausen, CEO and Co-owner of Årstiderne Arkitekter
“Our customers are increasingly asking for turnkey engineering and architecture solutions, which we now can offer thanks to this acquisition. With 30 years of experience, Årstiderne Arkitekter has built a strong offering and a highly esteemed and successful architecture practice. This acquisition is in line with our ambitious growth agenda for the Danish market. Together we can grow the business and create additional value for our customers by offering a full palette of expertise as one firm.”
Dariush Rezai, President of Sweco Denmark
“This transaction clearly supports the general trend with consolidation in a market characterised by increasingly larger and more complex projects, where clients are demanding integrated architectural and engineering solutions. Clearwater International expects to see further sector consolidation through 2018. The large corporates are strategically focusing on add-on acquisitions that build out a company’s specialist competences or acquisitions that help to consolidate leading positions in attractive geographies.”
Jakob Tolstrup Kristensen, Associate Partner, Clearwater International