Danish acquisition for Adapteo
07 December 2021
Nordic modular accommodation specialist Adapteo has confirmed its intention to acquire the modular building assets of Danish company Ajos, a subsidiary to MT Højgaard Holding (MTH). The terms of the agreement have not been disclosed.
According to Adapteo, the move, announced yesterday - 6 December, strengthens its position, both in Denmark and as a rental supplier of modular buildings to the social infrastructure sector in Northern Europe.
Ajos supplies adaptable buildings for rental to the public sector in Denmark. Its range includes temporary housing for school, daycare, premium office facilities, and relocation facilities, with some models certified with the Swan Ecolabel.
Ajos had a revenue of DKK 81.0 million (€10.8 million) in 2020, with more than 96% of rental revenues from the public sector. A majority of Adapteo’s revenues is also generated by rental contracts from the public sector.
Philip Isell Lind af Hageby, President and CEO of Adapteo Group, said, “With a future acquisition of Ajos we will strengthen our position as market leaders in adaptable and circular building solutions in Denmark. We see great potential in Ajos’ business and sustainable product portfolio.
“Their capabilities in social infrastructure and sustainable buildings are valuable assets for Adapteo, not only on the Danish market, but for our whole company, as the need for high-quality, adaptable and sustainable buildings is increasing across all of our markets.”
Adapteo has a presence in Sweden, Finland, Norway, Denmark, Germany, Belgium, the Netherlands and Lithuania.
The company has attributed its growth this year to acquisitions across Europe, including Dutch Cabin Group which has operations in the Netherlands, Germany and Belgium.
Adapteo also expanded its presence in Norway through the acquisition of Stord Innkvartering and entered the Lithuanian market earlier this year.
The company also created and filled a new role for a business head for Denmark, Norway and Finland last month.