Investment in Sustainable Propagation Solutions

Kirk Kapital and Karsten Ree Holding acquire Ellepot from private equity fund Capidea. Simultaneously, Ellepot merges with PlantPaper, creating a strong group within sustainable propagation solutions.

Ellepot A/S and PlantPaper Holding ApS both develop and produce propagation systems consisting of customized machines, specially developed papers and trays for growers worldwide. Following a merger of the two businesses, the combined business will be present on five continents, have 18 partners and sales to more than 120 countries.

Following the successful completion of the transactions, Kirk Kapital and Karsten Ree Holding will equally own 48% of the new Ellepot Group, while the management will own the remaining shares.

“I am pleased to welcome Kirk Kapital and Karsten Ree Holding as shareholders in the new Ellepot Group,” says Lars Steen Pedersen, CEO of Ellepot.

“The propagation system that both companies develop and produce, is smarter and cheaper than traditional propagation methods. Most importantly, the solutions are environmentally sustainable as they dramatically reduce the usage of plastics,” says Kim Gulstad, CEO of Kirk Kapital.

“We are pleased with the successful development Ellepot has had during our ownership period,” says Nicolai Jungersen, Partner at Capidea.