Bech-Bruun

Denmark

IFLR1000 Reviews

Financial and corporate

With a history tracing back to 1872, the Danish law firm Bech-Bruun has offices in Copenhagen, Aarhus, New York and Shanghai.

 

Focusses / specialisms

Bech-Bruun is recognised for its strong M&A, projects and restructuring and insolvency teams. It also boasts of a very credible banking and capital markets offering.

The firm’s previously acquisition finance-focused banking practice has broadened in focus and now regularly acts on large asset financings, project financing and regulatory mandates. It often represents the borrowers and lenders on deals involving the aviation, manufacturing and real estate sectors. 

In capital markets the firm is particularly strong on the equity side, where it consistently acts on IPOs on Nasdaq Copenhagen, but also has strong capabilities in supporting debt and structured finance transactions.

The M&A team has a strong presence in Aarhus and Copenhagen and regularly completes several of the market’s biggest transactions, particularly in large Danish sectors, such as financial services, pharmaceuticals, IT, energy and shipbuilding.

In project development, the firm is strong in energy, with offshore pipelines and wind farm developers often creating work for the team. It is equally capable in in infrastructure where the combination of specialist construction expertise and a deep bench give the firm the capacity to handle a wide range of major construction and infrastructure projects.

The firm’s restructuring and insolvency team often represents debtors and creditors on a mix of formal restructurings, distressed acquisitions and insolvency proceedings.

 

Key clients

The firm’s key clients include CVC Capital Partners, Møller-Mærsk, Danske Bank, Copenhagen Infrastructure Partners, Nord Stream 2, Energinet, Nordea Bank, Nykredit Bank.


Research period review: 31st edition (2020/21)

In banking, the firm continued to be highly active in asset finance and more specifically in aviation finance, where it is one of the leaders in the Danish markets. It also did work in energy finance, as well as real estate finance, advising notable clients such as the Danish Green Investment Fund and Blackstone.

In equity capital markets, the firm maintains its strong position in the public to private transactions, having recently advised on the significant take-over of Veloxis Pharmaceuticals by Asahi Kasei. The equity capital markets team was visible in the IPO space, where it notably advised on HusCompaniet’s IPO. The firm’s debt and structured finance teams were also active, advising borrowers and lenders.

The firm acted on some of the most prominent M&A mandates in Denmark for both buy and sell side clients. In the private equity space the team was involved in a range of significant transactions for both private equity firms and their portfolio companies. In public M&A the team most notably advised RSA Insurance Group in connection with the £7.2 billion takeover bid from Tryg and Intact.

In projects work the firm acted on many large-scale developments in both the energy and infrastructure domains. Its landmark work during the research cycle involves support of the multi-billion Nord Stream 2 project.

In restructuring and insolvency the firm delivered advice to both creditor clients such as major Danish banks and prominent government funds, as well as Danish corporates and Danish subsidiaries of major foreign players.

During the research cycle attorney Line Støving left the restructuring and insolvency practice. Senior lawyer Finn Erland Andersen joined the firm’s energy practice at the start of 2021.

 

Deal highlights: 31st edition (2020/21)

Asahi Kasei Corporation €1.2 billion acquisition of +90% stake in Veloxis Pharmaceuticals

CVC Capital Partners €2.5 billion acquisition of STARK Group

Cellnex Telecom €400 million acquisition of HI3G Denmark

HusCompaniet IPO

Kriegers Flak offshore wind farm

Lynetteholmen artificial island

Nord Stream 2

Tønder biogas processing plant

Tryg and Intact £7.2 billion acquisition of RSA insurance Group

Workday €700 million acquisition of Peakon

 

Client feedback: 31st edition (2020/2021) 

 

Bank lending : Borrower side 

"Fast and correct." 

 

Bank lending : Lender side 

"Bech-Bruun has in-depth legal knowledge on many topics given it is one of the largest firms in Denmark. On the financing area I think they are especially good within the fund financing area." 

 

Banking and finance 

"Knowledgeable on law, sector and company. Very accessible, with good depth in team." 

 

Capital markets 

"Extremely precise and to the point. Always accessible and positive. Good advice and a high level understanding." 

 

Capital markets : Equity 

"Easy to work with, competent, reasonable on fees." 

 

M&A 

"Committed - competent- professional." 

"I was impressed by the commitment, drive and true partnership working relationship that the company created." 

"Reliable. Trustworthy. Deliverable. " 

 

PPP/PFI 

"A very useful combination of strategic and in-depth legal approach to handling the cases. " 

 

Project development : Energy 

"Strong knowledge, pragmatic, listening, strategic. " 

"The advice includes eg environmental and consenting law, procurement processes, structuring, negotiations and litigation. The BB team is very easy to work with, they understand the business and commercial aspects. It is a flexible team that is great in adapting to our needs." 

 

Project development : Infrastructure 

"Long-term experience. Highly skilled. " 

"Professional and solid." 

 

Insolvency 

"Timely, service-minded, legally strong and strategically sound." 

 

Restructuring and insolvency 

"High-quality legal advice. Visibility in the market. A good ability to put themself in the company's place. Solution-oriented. Good at handling large complex projects. Extensive experience in the restructuring and insolvency area." 

 

Anders Hauge Gløde 

"Anders is a great lawyer. He always deliver high-quality legal advice. He has a good ability to put himself in the company’s place. He is solutions-oriented and manages to handle complex restructuring projects. Anders has extensive experience in the restructuring and insolvency area." 

"Good communicator. Great availability. Swift delivery." 

 

Anders Hørlyck Jensen 

"Good availability and responsiveness. Really understands our business and how the sector works." 

 

Claus Aagaard-Nielsen 

"Committed, pragmatic, solutions-oriented." 

 

David Moalem 

"Extremely precise and to the point. Always accessible and positive. Good advise and a high level of understanding. A very likeable individual." 

 

Hanne Mølbech 

"Highly skilled. Long experience." 

"Professional and solid." 

 

Jacob Schall Holberg 

"Accessible, professional, skilled. He understands our business." 

"Pragmatic, skilled and with a good understanding of our organisation. " 

 

Martin Allan Christensen 

"Great on details and good overview." 

 

Morten Krogsgaard 

"Finds solutions." 

 

Simon Milthers 

"A real dealmaker. Great at client relationships and strong core legal skills." 

"Simon Milthers brings deep Danish expertise, both on the technical/legal side and the cultural angle. He is an outstanding listener, has huge emotional intelligence and is a very skilled transactional lawyer." 

 

Steen Rode 

"Steen Rode is an outstanding professional. His advice is excellent and practical. His personal qualities are top-notch. He is available, approachable and professional. Moreover, he has an excellent commercial mind and gives sound strategic and tactical advice as well as legal advice." 

 

Thomas Thordal Sevelsted 

"Knowledgeable in law and his sector. Very accessible and helpful. " 

"Accessible, able to do quick turnarounds, commercially oriented and pragmatic. Good knowledge of fund financing."