Horten advised Creators of the outside world B.V. (CROWD) in connection with the acquisition of the sustainability focused company HITSA A/S. HITSA A/S supplies and enhances urban spaces with high-quality furniture and, furthermore, HITSA A/S is currently the market leader in Denmark and Sweden focusing on bicycle infrastructure.
CROWD's key focus on circularity and smart city solutions makes CROWD an innovative company that is involved in designing quality products for the public space with the aim to make a conscious contribution to the living environment of people. CROWD is majority owned by the investment company Convent Capital.
The transaction is part of CROWD's growth strategy, and the acquisition of HITSA A/S, including HITSA A/S' four subsidiaries, supplements CROWD's existing investment portfolio in mid-sized companies within development of smart cities and urbanization with an expansion of production facilities in Scandinavia and the Baltics.
Horten has advised CROWD on all aspects of the transaction, including due diligence and negotiation, as well as entering into transaction and financial agreements.
The M&A team was led by partner Lise Lotte Hjerrild assisted by attorney Christian Vesterling and assistant attorney Stephanie Beatrice Pitzner, and the financial team consisted of partner Lars Lüneborg and attorney Helle Muff Højberg Henriksen.