Clearwater has advised the owners of Skandinaviska Bensinaktiebolaget din-X (din-X), an operator of 181 unmanned petrol stations throughout Sweden, on its sale to a consortium of Norwegian and Swedish investors, with Pioneer Capital as lead minority investor.
The 100% Danish-owned company, din-X, was established in 1961 by the Lysgaard and Jensen families. Today, the company operates a chain of petrol stations consisting of 181 sites operating primarily in the Mid- and Southern part of Sweden. All petrol stations are unmanned, leveraging its agile and fully automated IT infrastructure that streamlines business processes and integrates all systems. In 2020, the company had more than €150m (SEK 1.5bn) in revenue with strong profitability. The sale secures further positive development of the company and a chance to pursue new strategic options.
Pioneer Capital, the lead minority investor, is a Norwegian investment company head quartered in Oslo, Norway. The company was founded in 2010 with a clear purpose of partnering with Nordic growth companies and outstanding entrepreneurs. With a 100% acquisition of din-X, Pioneer Capital will support its continued business plan and development.
Pioneer Capital is backed by the Adolfsen family, the owners of Adolfsen Group, operating within real estate, travel, tourism, care, and recruitment in Sweden and Norway.
