Maj Invest Equity invests in the green transition

The Danish supplier of energy solutions Krebs A/S has entered a partnership with MIE 6 Triple Bottom Line K/S (MIE6 TBL).

Krebs is one of Denmark's leading experts in energy-efficient solutions for future heating production. Founded in 2018 by CEO Morten Krebs, who has extensive experience in heating solutions, the company later welcomed Rasmus Wedel and Lars Larsen as partners. All three will continue in their roles, collectively retaining 40% ownership of the company.

Since its inception, Krebs has been driving the green transition by focusing on the delivery and installation of heat pumps and energy systems, particularly for district heating plants in Denmark. A specialist in energy technology, Krebs consistently strives to create innovative and sustainable solutions for future heating production. Greener energy sources and energy efficiency are central to the solutions driving the green transition – and Krebs plays a vital role in this effort.

Headquartered in Aalborg, Krebs is one of the fastest-growing companies in Denmark and was honored as Børsen Gazelle company (an award recognising the fastest-growing companies in Denmark) for the second time in 2024. Over the past two years, the company has more than tripled its revenue while maintaining strong profitability. Today, Krebs is recognised as a leading installer of heat pumps and energy systems for district heating plants and industrial facilities in Denmark.

“Our pipeline is stronger than ever. Customer and market demand continue to grow, driven by a structural focus on energy efficiency in district heating plants. With Maj Invest Equity on board, we have found the ideal partner to support us on our journey ahead. Our company is entering a phase of significant growth, and we need to develop our organisation and systems to keep pace. Their experience, expertise, and partnership mindset were decisive in our decision. It was crucial for us to find a partner who values our DNA and is committed to realising the company’s potential. Respect for our culture and values was a key factor in selecting Maj Invest Equity,” says Morten Krebs, founder of Krebs.

Maj Invest Equity has raised its sixth fund, MIE 6 Triple Bottom Line, with an increased focus on investments that: (1) deliver strong financial returns, (2) develop better businesses for people and communities, and (3) make a positive impact on the planet. Krebs is the first investment in the new fund. The investment exemplifies the strategy and focus of MIE 6 TBL, demonstrating a commitment to delivering financial returns while positively impacting environmental and societal outcomes. Krebs’ strong alignment with the fund’s profile underscores the direction Maj Invest Equity (“MIE”) is taking with MIE 6 TBL as MIE fund seek out opportunities that combine growth, sustainability, and measurable impact.

“Krebs, led by Morten, Rasmus, and Lars, has built a unique, growth-oriented business that fulfils a crucial need to facilitate Denmark's green transition. We see significant growth potential in heat pumps for both district heating plants and industrial applications,” says Mads Andersen, Partner at Maj Invest Equity. “With extensive industry experience, high customer satisfaction, and a strong project management model, Krebs has positioned itself as a leading player in energy systems for the green transition. This investment marks the first for our new fund, MIE 6 Triple Bottom Line, and aligns well with its focus on ESG, including energy efficiency. We look forward to joining Krebs on its continued growth journey,” adds Mads Andersen.

The transaction is subject to approval by competition authorities, after which the deal will be finalised. For further information, please contact:

Maj Invest Equity
Mads Andersen - Partner
maa@majinvest.com – 30 55 51 20