We advised InstallatørGruppen on its IPO

Davis Polk advised InstallatørGruppen A/S on its initial public offering of 70,000,000 existing shares, excluding any overallotment option shares, sold by InstallatørGruppen’s shareholders, including certain funds managed by FSN and certain other shareholders. There is an overallotment option in respect of an additional 10,499,850 shares. The shares are listed on Nasdaq Copenhagen in Denmark. With an offer price set at DKK 15 per share, each with of nominal value of DKK 1, the gross proceeds to the selling shareholders, assuming no exercise of the overallotment option, amounted to approximately DKK 1.05 billion (approximately $163 million).

InstallatørGruppen is a leading technical installation group with operations across Denmark and Switzerland in five core disciplines: heating and plumbing, electrical, ventilation, cooling and adjacent disciplines. Through InstallatørGruppen’s decentralised operating model, local companies retain their management, customer relationships and entrepreneurial culture while benefiting from the scale, capabilities and best-practice sharing of a larger group. Since InstallatørGruppen’s establishment in early 2023 with 11 companies, it has expanded to more than 45 companies across Denmark and Switzerland, with a planned market entry into a third market in 2027.

The Davis Polk corporate team included partner Connie I. Milonakis and associates Despoina Arslanidi and Matt Meagher. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Sarah E. Kim and associate Hamza Suhail provided Investment Company Act advice. Members of the Davis Polk team are based in the London and New York offices.

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