Den Sociale Kapitalfond Invest has acquired the majority of the shares in the company ProfilService, which is one of the leading cleaning companies in Denmark within commercial cleaning with a focus on public institutions – especially large educational institutions and private companies.
The investment, with the purchase of 57.5% of the shares, is part of a generational change, where Per Jens Nielsen, CEO and co-owner of the company since 2008, is scaling down. Per Jens Nielsen will continue to own part of the company and will be chairman of the board. Steen Meedom, who has been a co-owner since 2014, will continue as co-owner and CEO.
With the sale, the management of ProfilService wants to carry out a generational change that future-proofs the company. This applies both in terms of ownership and business, where Per Jens Nielsen sees exciting potentials in the collaboration with Den Sociale Kapitalfond Invest:
“In relation to the mission of ProfilService “Together for a cleaner workplace”, Den Sociale Kapitalfond Invest is the right match, especially with the thoughts and ideas we have already had in relation to social sustainability and responsibility. In the partnership with Den Sociale Kapitalfond Invest I see a fantastic platform for translating those thoughts and ideas into real action based on some “Best in Class” principles. ProfilService has been on a great journey here, and I am both proud and humbled that Den Sociale Kapitalfond Invest has seen and recognized our potential and is interested in continuing the journey together with us and our many talented employees,” says Per Jens Nielsen.
Strong focus on social responsibility
For many years, ProfilService has had a strong internal focus on environmental and social responsibility, where Profilservice, for example, only uses Nordic Ecolabelled products.
At the same time, ProfilService is a “socially driven” company, which among other things distinguishes itself by having many management resources in the form of service managers per hourly paid employee. This means that when ProfilService, like others in the industry, hires people from the margins of the labour market, ProfilService has the managerial resources to make an extra effort for the employees’ training and well-being, which is reflected in ProfilService’s high employee retention.
However, over the years, the company’s social efforts have been more culture-borne than formalised, which is one of the areas to which Den Sociale Kapitalfond Invest can contribute.
“ProfilService is a well-run company with a strong management team that offers concepts and solutions that meet high demands on price, quality, flexibility and increasing demands for social responsibility and environmental considerations – and this matches our approach very well. At the same time, we can contribute to developing the social profile even more, for the benefit of both more people from the margins of the labour market, but also for ProfilService’s ability to attract and retain a motivated and loyal group of employees and for the increasing number of customers who demand this,” says Lars Jannick Johansen, Managing Partner at Den Sociale Kapitalfond Invest.
In ProfilService, co-owner and CEO Steen Meedom is pleased with the collaboration with Den Sociale Kapitalfond Invest, partly because of the joint focus on both the social and the commercial bottom line:
“Social and environmental responsibility means a lot to us in management – and is something we consider to be a growing competitive parameter. With Den Sociale Kapitalfond Invest , we have got an investor who stands for the same values and the same way of doing business, and who can help us become even better in this area as well,” he says.
Employees are offered co-ownership
At the same time, ProfilService has developed a model where managers, middle managers and other key employees are offered co-ownership of the company over the coming period.
“At ProfilService, we take ownership seriously. We see it as an important tool to strengthen the pioneering spirit and the strong commitment and unity in the entire employee group, which is crucial to ensure our continued development and good results,” says Steen Meedom.
In the process, ProfilService A/S has been advised by Deloitte Corporate Finance, Lund Elmer Sandager and Inforevision, while Den Sociale Kapitalfond Invest has collaborated with Accura and EY. The parties agree not to disclose the transaction price.
About ProfilService A/S
ProfilService offers quality cleaning and window cleaning to both the private and public sectors.
The company offers office cleaning, window cleaning, main cleaning, furniture, carpet and curtain cleaning, floor treatment, stair cleaning, school and institution cleaning, cleaning of sports facilities, cleaning after craftsmen, etc.
ProfilService has a gross profit of approximately DKK 83 million annually and has approximately 162 employees.