Banking & Finance
"Proactive, dynamic and ambitious, this young firm's presence is
growing in the Danish market and also in Norway.
Clients say that acquisition finance is the team's main strength;
it also has an impressive reputation for real estate-related work.
The firm has a growing international profile and an impressive list
of clients such as Nordea, JPMorgan and Kaupthing Bank Luxembourg.
Leading partner Claus Bennetsen is a highly visible presence in the
Danish banking and finance market, admired equally for his
theoretical knowledge and his tenacity. Partner Kim Toftgaard
specialises in acquisition and structured finance. Sources applaud
his ability to connect with clients, saying: "He is excellent -
he's pragmatic, easy-going and finds solutions easily."
Capital Markets
Building on the strength of its client base within real estate
and private equity, Accura is recognised by commentators for its
highly successful capital markets practice.
The group receives mandates from clients such as real estate
investor Investea German High Street II, which it advised on its
IPO and issue of shares on OMX, valued at DKK350 million. Within
private equity, the firm acted for Nordic Capital, a group of
private equity funds investing primarily in the Nordic region, on
the takeover of the majority shareholding in EDB Gruppen from
IBM.
Key lawyers in the group include Kåre Stolt, the firm's senior
partner, who divides his time between M&A, tax and capital
markets. Kim Toftgaard is a banking and finance lawyer with a
substantial portfolio of structured finance matters. Thomas Weincke
is one of Denmark's busiest M&A lawyers; he also has an
impressive workload of diverse capital markets transactions.
Competition/European Law
The competition group works closely with the firm's M&A
team, securing a steady stream of merger clearance work.
The lawyers recently acted for Nordic Capital in the filing and DCA
clearance of its acquisition of EDB Gruppen. However, the group has
been increasingly instructed on competition matters independent of
M&A and recently acted for CityMail in several complaints to
the DCA concerning activities of Post Danmark. The group advises a
number of clients in the public sector, such as the municipalities
of Fredensborg and Copenhagen - the latter on tender regulation and
its EU tender procurement of waste collection services. Indeed,
"the group's knowledge of tenders is excellent and no firm can do a
better job in this area," say sources.
Jesper Fabricius is the group's leader, of whom sources say: "He
knows exactly what he's doing - you always feel safe when he's
handling things."
Corporate/M&A
"Accura is an agile outfit, comprising high-calibre commercial
lawyers who are not stuck in the old traditional system."
Its M&A practice has been "performing fantastically well" in
the past few years, commentators agree. The group possesses
"tremendous transactional experience" and has "deeply rooted
skills" when it comes to M&A deals. Clients enjoy working with
the firm, reporting: "The lawyers show a significant interest in
the commercial side of deals - they really understand business,
which makes it easy to get the best support on transactions."
Much of the firm's success is attributable to managing partner Kåre
Stolt. Clients say: "He has a commercial mindset and is good at
facilitating deals," as well as being "a great legal adviser." The
firm has assembled "an extremely good team," including Jacob
Vinther, who also "creates an atmosphere conducive to deal making."
Sources explain: "He doesn't create problems, but solves them, and
is simply a great lawyer." Michael Vinther is "easy to discuss
business issues with," and clients praise his "level of empathy,
which means he understands where we want to go." Thomas Weincke is
recommended for providing "crystal-clear advice at all stages of a
transaction." The group focuses on advising the private equity
funds that have been so active in the Danish market over the past
few years.
Recent highlights include acting for Nordic Capital on its
acquisition and delisting from the OMX Nordic Exchange of EDB
Gruppen, one of the largest Danish system integrators. The firm
also assisted Capidea and 3C with the acquisition of Danish
hardware retail chain Inspiration. "The firm's strategy has been
incredibly successful," interviewees observe. The group also acts
for private and public companies, and has benefited from conflicts
among Denmark's 'big four' law firms.
Employment
This small employment practice has cut its teeth on some of the
largest, most employment-heavy transactions in the market. It won
market kudos for its advice to Ericsson on all the employment
aspects of Ericsson and TDC's managed services contract; this was
the largest such contract in the Nordic region and saw the transfer
of 220 skilled employees from TDC to Ericsson.
The group's work is not purely transaction-related, however. It
represents the HR departments of big clients such as PwC and
Scandlines, providing ongoing employment law support in a diverse
range of issues. Other core areas of expertise include incentive
schemes, management investment programmes and outsourcing. "The
group's key strengths are speed of response and business acumen,"
comment sources.
Anne Kathrine Schøn is experienced in all areas of employment,
though her outsourcing and incentive programmes expertise is
especially notable. The advice she provides is "always extremely
clear and to the point," according to interviewees.
Intellectual Property
This group continues to make a good impression in the market.
Much of the team's work takes place within the life sciences
sector. It provides ongoing advice on a variety of issues to
clients such as Sanofi Pasteur and Merck, and has litigated some
important patent cases. Technology companies feature heavily on the
firm's client roster.
Head of IP René Thornfeldt is an experienced adviser, especially on
IP rights transfers in connection with M&A deals; he is also
recommended for contract work, such as drafting development and
licence agreements. "He has the ability to quickly learn what
drives a business and is very commercial in his approach," explain
clients. He is also credited with having built up a great team of
lawyers around him. Trade mark and design rights are other key
focus areas for this practice.
Real Estate
The real estate practice is a central part of Accura's overall
operation and its success in the sector is equal to its success in
M&A, where the firm really made its name.
Real estate development has been high on the agenda recently and
highlights include acting for Aberdeen Property Investors Denmark
on the development of a site for retail, office and residential use
in the City of Odense. With the combined efforts of its real estate
and banking and finance departments, the group has also acted for
SG Nord Holding and CPH Hotel Management on the project development
and financing of the Copenhagen Towers.
According to one source "Accura has one of the best teams in real
estate right now - the lawyers work extremely fast, prioritise
effectively, and are driven by a strong commercial sense." These
lawyers include the highly regarded Henrik Groos, who is described
as "a top-notch and business-minded lawyer with an excellent
network of international contacts," and Jon Dyhre Hansen, who is
recommended as "a commercially strong lawyer and one of the most
knowledgeable representatives of pension funds and real estate
companies."
Tax
Accura is recognised for its quality M&A and restructuring
work, and for its "superb tax expertise" in these areas. The group
recently advised CABINN, the leading Nordic hotel group, on a
complex tax restructuring, and acted for Chevron on the
restructuring of its Danish upstream operations.
The two-partner group also handles tax litigation in connection
with both direct and indirect taxes. Team head Lars Fogh provides
"great international tax advice. He never makes mountains out of
molehills and is very easy to work with." Although primarily
focused on M&A, senior partner Kåre Stolt is also a recognised
tax specialist.
TMT
Steadily building up its profile in IT and telecoms work, this firm is most active in the market advising mid-sized companies. It is also winning more high-profile instructions relating to tenders and contractual work. Niels Christian Wedell-Wedellsborg is the chief contact here; he provides ongoing advice to Ericsson.