Adolfsen Group, trough Pioneer Investor AS and together with co-investment partners, have signed an agreement to acquire 100% of the shares in Skandinaviska Bensinaktiebolaget din-X (“din-X”) and thereby take over operations based in Sweden.
Din-X is a unmanned petrol station chain founded in 1961 by the Lysgaard and Jensen families. Din-X currently operates over 180 stations in Sweden from Borrby in the South to Bodbyn in the North. With its 100% unmanned locations, din-X is focusing on strong local presence facilitated by a cost-efficient business setup.
Pioneer Investor Management AS is an investment company with head offices in Oslo, Norway. Pioneer is partnership owned, with the Adolfsen brothers as main owners. Pioneer has done several successful investments within logistics, real estate, the automobile industry, finance among other things.
Pioneer Capital’s business idea is to invest in Nordic growth companies together with outstanding entrepreneurs, and also to participate in related property transactions. Investments are done either alone or in partnerships. Pioneer is a part of the Adolfsen Group, consisting of a group of separate companies where the brothers Kristian and Roger Adolfsen are majority shareholders, or have a large and influential ownership. The Adolfsen Group yearly revenues are approximately NOK 14 billion, and the group has around 24.000 employees.
The transaction was completed on 1st of March 2021.
Capillar Advisory acted as exclusive financial advisor to Pioneer Investor AS.