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Ricki Kjeldsen, the CEO and majority owner founded Treetops in 2011. Since then, the company has been on a tremendous growth journey and today sells its products in 16 different countries throughout Europe.
To accelerate growth further, Ricki Kjeldsen with the help of EY Corporate Finance started looking for a new partner in the autumn of 2022. Ultimately the perfect partner was found in Kingspan Group, which through its international setup and significant financial power is a perfect fit for Treetops.
Ricki Kjeldsen retains 25% of the shares in Treetops and stays onboard as CEO. He is looking very much forward to continuing the journey, now together with a strong international partner. About the sales process Ricki states: “We have been highly satisfied with the work from EY Corporate Finance. They have been very professional, pragmatic and a pleasure to work with. We have felt in control and informed throughout the process which ended in the best way possible.”
Also Kingspan are highly pleased with the transaction. They see great potential in Treetops and are confident that they can support their growth journey. About the process Bill Minnock, responsible for the process from Kingspan, states: “It has been a pleasure working with the EY Corporate Finance team. They have been very professional and pleasant to work with.”
The transaction is subject to merger clearance which is expected to be given within 2-4 months.
Below you can find a selection of EY's recent deal alerts and you can also find a more extensive list on our Strategy and Transactions page.