Core Sustainability Capital invests in Scanmetals
The recently established private equity fund, Core Sustainability Capital (CS Capital), which is backed by the Danish pension fund Velliv, has completed its first large investment.
CS Capital acquires 33 pct. of Scanmetals, which until now has been owned primarily by founder Ejvind Pedersen and the family-owned investment company Kirk Kapital. Scanmetals has a leading market position in Western Europe within recovery of metals from incinerator bottom ash.
Carsten Gröhn, Managing Partner of CS Capital, is satisfied with the new investment.
“In the spring, Velliv entered an agreement to invest DKK 5 billion in the green transition through CS Capital. Scanmetals is our first investment…” says Carsten Gröhn.
The Danish company Scanmetals was established in 2009 by Ejvind Pedersen. The company is based on a unique technology that enables more effective identification and sorting of metals from incinerator bottom ash. Scanmetals plays a significant role in the green transition by enhancing the recyclability of metals. In 2019, Kirk Kapital acquired 33 pct. of the share capital, an ownership stake which has since been increased to 40 pct.
Going forward, CS Capital and Kirk Kapital will own 33 pct. each while Ejvind Pedersen and the original shareholders will own the remaining 33 pct.
Ejvind Pedersen, owner-manager of Scanmetals, is looking forward to the new partnership with CS Capital.
“I am proud that CS Capital is interested in becoming a larger minority shareholder in Scanmetals…” says Ejvind Pedersen.
Kim Gulstad, CEO of Kirk Kapital, is pleased to welcome CS Capital on board as owner.
“Scanmetals has undergone an incredible development since we became part of the shareholder group in 2019…” says Kim Gulstad.
The transaction is subject to customary regulatory approvals.
About Scanmetals
Scanmetals is a specialist metals recycling company and leader within dry recovery of non-ferrous metal from post-consumer waste. Using the latest mechanical and sensor sorting technology, individual fractions of non-ferrous and precious metals are recovered. These metals are cleaned, upgraded and sold to primary and secondary smelters globally. Scanmetals is a key contributor to the circular economy and actively contributes to a society where we reduce, reuse and rethink our waste products. The company is headquartered in Kirke Stillinge, Denmark and has four production sites located in Denmark, Germany and UK.
About Core Sustainability Capital
CS Capital is a recently established private equity fund, which exclusively invests in Nordic companies with sustainable purposes. CS Capital manages approx. DKK 5bn through their partnership with the Danish pension fund, Velliv. CS Capital is an active minority investor with the purpose of actively supporting investments in their sustainable growth ambitions towards the green transition.
About Kirk Kapital
Kirk Kapital is a family-owned investment company owned by the Kirk Johansen family. The Kirk Johansen family are descendants of Ole Kirk Christiansen, who established LEGO. Kirk Kapital manages approx. DKK 14bn in AUM invested within strategic investments and financial investments. Within the strategic investments, Kirk Kapital is an active long-term owner with larger minority positions in 16 companies.