Molslinjen acquires ForSea – expands network of ”floating bridges” between Denmark and Sweden
As the sole operator of Roll-on/Roll-off ferries between Helsingør, Denmark, and Helsingborg, Sweden, ForSea provides ferry connections via a single ferry route strategically located at the closest point between the two countries (c. 4 km). ForSea will, under new ownership and in collaboration with Molslinjen, continue its long-term growth and sustainability journey in the Nordic region.
Backed by EQT Infrastructure, Molslinjen A/S has entered into a definitive agreement to acquire ForSea from Igneo Infrastructure Partners. ForSea is the sole operator of Roll-on/Roll-off ferries between Helsingør, Denmark, and Helsingborg, Sweden, providing ferry connections via a single ferry route strategically located at the closest point between the two countries (c. 4 km). As a true “floating bridge”, ForSea ferries are an integral part of the Nordic transportation infrastructure network taking over six million passengers, one million passenger cars and 450,000 freight trucks over the strait every year. The company operates five ferries across its route, of which the main two are electric and a third is planned for retrofit - putting on a clear path to full decarbonisation of the fleet within this decade.
"ForSea is a leader in its industry and shows that it is possible to run a sustainable ferry line which at the same time creates excellent results. Sustainable transport is the model of the future and ForSea will continue the work of leading the way for the green journey," says Kristian Durhuus, CEO of ForSea.
” We are incredibly proud of what ForSea has become and achieved under our eight-year ownership. A global sector leader within decarbonisation, a strong and resilient business able to withstand pandemics, and a modern and reliable infrastructure operator. ForSea has a great future ahead of it,” says Hamish Lea-Wilson, Partner at Igneo Infrastructure Partners.
Acquired by EQT Infrastructure in 2021, Molslinjen has approximately 1,200 employees and operates nine ferry routes across Denmark, transporting approximately eight million passengers per year. EQT has extensive experience in developing companies in transport and logistics with focus on sustainability and long-term ownership.
"ForSea is an attractive and well-managed ferry company. Similarly, ForSea and Molslinjen are both important transport links in the Nordics with a very complementary range of services and expertise within their respective organisations. We look forward to a close collaboration between Molslinjen and ForSea where we can exchange lessons and continue the growth journey towards a sustainable leading player in the region," says Carsten Jensen, CEO at Molslinjen.
” We see the ferry connection ForSea as a leading player in the Nordic transport market and part of the critical transport infrastructure. Its floating bridges connect large domestic population centers and businesses in Europe and unite Sweden with the continent. ForSea's investments in sustainability as a leading operator of electric ferries are fully in line with EQT's investment mandate. We look forward to continuing to invest in ForSea and support the company on its sustainability journey," says Carl Sjölund, responsible partner at EQT.
The transaction is subject to the approval of the Swedish and Danish competition authorities and is expected to close early 2023. The parties have agreed not to disclose the sale price.
Press contacts
For Molslinjen: Jesper Maack, PR and communications manager, jma@molslinjen.dk, +45 20 19 62 15
For EQT: Press Office, press@eqtpartners.com, +46 8 506 55 334
For ForSea: Press Office, presscontact@forseaferries.com
For Igneo: Louise Collins, corpcomms@firstsentier.com
About Molslinjen
Molslinjen is Denmark's largest passenger ferry company with over 1,200 employees and 15 vessels serving over eight million people per year across nine routes, including connections to Sweden and Germany. In cooperation with Herning Turist, Molslinjen is operating busses under the brand Kombardo Expressen on direct bus routes to/from Copenhagen - Aarhus, Aalborg, Randers, Holstebro, Herning, Silkeborg and Rønne.
More info: www.molslinjen.dk
About EQT
EQT is a purpose-driven global investment organization with EUR 114 billion in assets under. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 280,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram
About ForSea
ForSea operates the Helsingborg-Helsingør ferry service, the Öresund Region’s floating bridge with a fleet of five vessels. In 2019 ForSea carried 7,0 million passengers and 1.3 million cars, 440,000 trucks and 16,000 buses and coaches. This traffic promotes integration and growth in the Öresund Region and is managed by a staff of 600 dedicated professionals, working every day to ensure that users have access to safe, efficient and environmentally friendly connection between Sweden and Denmark. The crossing also helps to create a further 2,000 job opportunities in the region.
For more information, visit https://www.forseaferries.com/
About Igneo Infrastructure Partners
Igneo Infrastructure Partners is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mid-market infrastructure companies in the UK, Europe, North America, Australia and New Zealand. Operating since 1994, the team works closely with portfolio companies to create long-term sustainable value through innovation and proactive asset management. Igneo manages EUR 24.1 billion in assets as of 30 September 2022 on behalf of more than 120 institutional investors around the world.
For more information, visit igneoip.com