Balder DAnmark acquires Sjælsø Management 

The management team of Sjælsø Management has sold its 51% ownership share to Balder Danmark, which thereby becomes the 100% owner of Sjælsø Management ApS.

Erik Selin, CEO of Fastighets AB Balder and Chairman of the Board of Balder Danmark A/S, says:

"I have known Sjælsø and its management team for almost 15 years, and Balder has been a co-owner of Sjælsø since 2016. It has been an exciting journey with fantastic, constructive, and open cooperation, resulting in the joint development and construction of many attractive residential properties in the Greater Copenhagen area."

He continues:

"There has been significant value creation during this period for all parties involved, both financially and personally. Sjælsø has a skilled and competent management team, and none of the members currently have plans to step down. However, it is a fact that 5 out of 7 members of the management team are over 60 years old, and therefore, we have jointly decided on this new ownership structure. This will make a future and gradual generational transition within Sjælsø’s management team easier."

A natural sale of ownership shares
Flemming Joseph Jensen will continue as CEO of Sjælsø while also remaining Managing Director of Balder Danmark. He says:

"For many years, we have had a close cooperation with Balder Danmark and have also developed a close, strong, and mutually trusting relationship directly with Erik Selin. Therefore, it is completely natural for us to now sell our ownership shares to Balder Denmark, so we can better plan a smooth generational transition within the management team in the coming years."

He continues:

"I am fully confident that the good cooperation between Sjælsø and Balder will continue, to the benefit of all parties, including our talented employees at Sjælsø."

Sjælsø keeps its identity and brand
Although the ownership structure has changed, it is the intention that Sjælsø will continue with the same strategy and concept.

There is a strong focus on ensuring that Sjælsø continues to carry out development and construction management tasks for clients other than Balder Danmark. Currently, the majority of ongoing projects are for external clients (for example, Stejlepladsen, Home.Earth, and K-Fastigheter).

Therefore, Sjælsø will keep its own identity and brand and will remain at its current address in Østerbro.

The purchase price has not been disclosed.

Facts
Balder Danmark is a subsidiary of the Swedish publicly listed company Fastighets AB Balder, headquartered in Gothenburg. Balder Danmark builds, develops, and manages properties in the Greater Copenhagen area and owns a total of six hotel properties, the Cirkusbygningen (Copenhagen Circus Building), a commercial property in Greve, and 22 residential properties with over 4,000 rental apartments, including smaller commercial units. The company’s head office is located on Vesterbrogade in Copenhagen.

For further information, please contact:
Erik Selin, CEO of Fastighets AB Balder and Chairman of the Board of Balder Danmark A/S: Tel.: +46 31-10 95 92, erik.selin@balder.se

Flemming Joseph Jensen, CEO of Sjælsø Management ApS: Tel.: +45 4015 6609, fjj@sjaelsoe.dk