Back in April, the investment fund Vextum was established. The fund focuses on local investments in generational shifts, turnarounds, attracting new businesses, and portfolio investments. Now, Vextum announces that it has completed its first investment.
According to a press release, Hotel E4, located just off the highway exit to Holeby, has been acquired by MiMo Investment, and Vextum has contributed financially to the purchase. Behind MiMo Investment are two brothers, born and raised in Rødby. If you have even a passing interest in handball, their surname, Damgaard, will likely ring a bell.
The handball brothers’ hotel purchase
One of the brothers, Michael Damgaard, has won both World Championship and Olympic gold medals with the Danish national handball team and currently plays for the German club SC Magdeburg. The other brother, Morten Damgaard, ended his handball career a year and a half ago. He now handles the day-to-day operations of MiMo Investment, where they invest in business projects on Lolland.
The chairman of Vextum, Steffen Lund, believes that Vextum has made a sound investment.
– We chose to invest in their company and the purchase of Hotel E4. It’s a good case for us because it fulfills both of Vextum’s purposes. Through the investment, we’ve ensured that the hotel remains in local hands and given Morten and Michael the opportunity to continue the positive growth and development they’ve had in their business so far. The investment will also yield a fine return, says Steffen Lund, director of Vextum, in the press release.
– It’s fantastic
MiMo Investment has previously invested in commercial properties on Lolland, gas stations, and two padel centers near Lalandia, both in Rødby and Billund. Morten Damgaard is pleased with their acquisition of Hotel E4.
– We bought the hotel because the location is perfect in relation to the plans we have for our business and how we’ve planned its development. It was a clear win-win for us, and the collaboration with Vextum has been really good, he says in the press release.
And filling the hotel in the first couple of years won’t be an issue. The press release reveals that the hotel has been leased on a long-term contract to Femern Link Contractors (FLC) in connection with the construction of the Fehmarnbelt Tunnel. The new owners are already renovating the hotel, with six new rooms being added, as well as office facilities for the brothers.
More investments in thepPipeline
For Vextum, the investment in MiMo Investment and the highway hotel won’t be the last, says Steffen Lund.
– We have now completed the first investment, and we already have several very interesting cases on the table that we are working on. Therefore, we are also interested in bringing more local investors on board, Steffen Lund says in the press release.
Vextum’s purpose is to invest in local businesses and projects that offer a reasonable return. The investment company is now working on six additional investment cases.
– Our ambition is to bring local investors together and, through investments in Lolland-Falster’s business community, create further growth in the region, Steffen Lund says in the press release.
The investment company’s board consists of business professionals Jan Sørensen from MSE, Kristoffer Boye, a farmer, Lars Sørensen from ENELCO, Lars Stuckert from Advodan, Ole Christiansen from Granby Pack, and Søren Rask from Rask EL. Bo Wilchen-Pedersen is the chairman of the board.
