Adelis acquires majority stake in Green Team Group

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Adelis makes its third acquisition and creates a solid foundation for growth in Green Team Group

Adelis Equity Partners Fund I (”Adelis”) acquires a majority stake in Green Team Group A/S (”Green Team Group”), one of Europe’s leading manufacturers and suppliers of Christmas tree seedling and Christmas trees and decorations, with its own production of 3,600 hectares in Denmark, Poland, Scotland and France.

Green Team Group was established in 1992 under the name Brdr. Majlands Planteskole, and the company has since been developed with primary focus on production and sales of Christmas trees in the company Green Team Holding A/S as well as a continuation of the nursery activities in Majland A/S. The Group is headquartered in Sdr. Omme, Denmark and distributes its products through its own sales force directly to some of the largest retail chains in Europe. In 2013, Green Team Group recorded turnover of DKK 247 million and operating profit (EBIT) of DKK 152 million.

With Adelis as its majority shareholder, Green Team Group will have access to expansion capital in the three-digit million range, allowing the Group to realize its target of more than doubling its sales of Christmas trees by 2020 through the strengthening of relations with retailers and the further expansion into Eastern Europe. In relation to the ownership change, a generational transition is completed in management where Chief Commercial Officer Hans Schultz is appointed CEO while the current CEO Peder Østbjerg continues on as member of the Board of Directors and co-owner. In addition, Mads Vemmelund has been appointed CFO. All other partners and shareholders continue as co-owners of the joint holding company, Green Team Group.

”Our strategy has generated good results in recent years where we have been able to increase sales and establish a strong position in the European retail segment as well as on the important growth markets in Eastern Europe and Russia. Adelis contributes with the financial strength and access to managerial competencies that will allow us to realize our ambitious targets for the coming years,” says Peder Østbjerg, CEO and co-owner of Green Team Group.

“Green Team Group plays a significant role in the ongoing professionalization of the Christmas tree sales in a number of European markets, and the company’s unique market position and strong relations to the large retailers is a great foundation for growth. We look forward to contributing to the company’s development towards becoming retailers’ preferred supplier in an exciting market which is undergoing significant structural changes,” says Steffen Thomsen, Partner at Adelis.

The parties have agreed not to disclose the purchase price.

Adelis was advised by sector experts Søren Overgaard Laursen and Torben Sommer-Larsen as well as Bruun & Hjejle and PwC. Green Team Group was advised by Handelsbanken, Deloitte and Plesner.

For further information, please contact

Peder Østbjerg, CEO, Green Team Group, +45 4033 9157

Steffen Thomsen, Partner, Adelis Equity Partners, +45 4028 3409

About Green Team Group

Green Team Group A/S is the leading manufacturer and supplier of Christmas tree seedling and Christmas trees and decorations with plantations in Denmark, Poland, Scotland and France. Green Team Group’s sales companies sell its products directly to large European retail chains and garden centers. Visit for further information.

About Adelis Equity Partners

Adelis is an active investor and partner in creating value at small and medium sized Nordic companies. Adelis was founded in 2012 with the goal of building the leading lower middle market investment firm in the Nordics. Adelis’ team members have a cumulative 85 years of Private Equity experience, have invested in over 50 companies and have been members of the board in more than 50 middle market companies. Our current fund size is SEK 3.7 billion and we have offices in Denmark and Sweden. For more information please visit


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