New Danish partner at Altor Equity Partners
Søren Johansen, who has been with Kromann Reumert for 22 years, since 2007 as Managing Partner, takes over responsibility for Altor Equity Partners’ activities in Denmark. He succeeds Denis Viet-Jacobsen, who has moved abroad for family reasons. Denis Viet-Jacobsen will continue to be associated with Altor as a non-executive director of the Altor funds.
Søren Johansen is a very experienced lawyer with core competences that match the business activities he will be responsible for at Altor. This applies to the transactional side as well as corporate leadership at board level.
“When I was offered partnership at Altor, it was an offer I could not refuse. It is quite a statement, because there wasn’t much that could make me consider leaving Kromann Reumert, which I still believe is a unique firm with a very strong partner group and great employees,” says Søren Johansen. “It has been a tremendous experience to lead a firm which really has positioned itself as a market leader and I look forward to following Kromann Reumert’s development going forward” He adds that he looks forward to working with his current Kromann Reumert colleagues in the future.
Harald Mix, Joint Managing Partner at Altor, says: “Altor’s goal is to be the leading private equity firm in the Nordic mid-market segment. Søren’s network and commercial experience from transactions and directorships will be a huge asset to expand our position in Denmark. We are very pleased that we have been able to attract someone like Søren to head the Danish team.”
Fredrik Strömholm, Joint Managing Partner at Altor, says: “We have a really good portfolio of Danish companies. With this market position as a starting point, and with our skilled staff in Copenhagen, it will be Søren’s mission to foster collaboration with management teams and employees on new transactions in order to support the development of more Danish world-class businesses “.
Denis Viet-Jacobsen, who was one of the founding partners of Altor at the beginning of 2003, moved as per 31 December 2010 but he remains active within Altor, and has joined the boards of Altor’s funds as a non-executive director.
Altor Equity Partners is the exclusive advisor to the Altor funds, comprising the “Altor 2003 Fund” with capital commitments of EUR 650 million, the “Altor Fund II” with capital commitments of EUR 1,150 million and also the recent fund “Altor Fund III” with commitments of EUR 2,000 million.
Altor invests in companies within the Nordic region focusing on value creation through growth initiatives, strategic development and operational improvements. It has since its establishment in 2003 made 29 platform investments and more than 30 add-on acquisitions. In Denmark Altor is the majority owner of Wrist Group, Euro Cater, Sonion, Aalborg Industries (agreement on divestiture entered in December 2010 with Alfa Laval AB) and Ferrosan (agreement on partial divestiture entered in February 2011 with Pfizer Inc.)