IFLR1000 Reviews

Financial and corporate

Danish law firm Accura was founded in 1999. It operates an office in Copenhagen.


Focusses / specialisms

The firm is best known for its strong M&A practice, which is one of the market’s leaders. In recent years the firm demonstrated its expertise in financing transactions.

The banking team is renowned for its acquisition financing work, and regularly represents borrowers and lenders on bilateral and syndicated term loans and revolving credit facilities.

The M&A team generally works on several of the largest cross-border deals in the market, with pharmaceutical and technology companies figuring prominently among its clients. This includes advising on buy and sell-side mandates for Scandinavian and international private equity houses,

The firm also has strengths in other financial and corporate areas including restructuring, where it often works for the creditors, and in capital markets, where it is especially strong on the equity side. 

In the projects space the firm generally works on infrastructure matters.


Key clients

Key clients include Danske Bank, PFA Pension, AP Pension, Euronext, VP Securities, Nexi, Spar Nord Bank, EQT, CataCap, Gro Capital.

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

The firm’s banking team has maintained its consistently strong position in the acquisition financing space in Denmark, having advised on several notable deals, including the financing of EQT Infrastructure’s acquisition of Molslinjen. The firm was active in financial regulation, where it attained regulatory approval for large M&A deals, as well as in the investment funds area.

The firm was highly visible in the Danish equity capital markets space, where it assisted both Danish issuers and Danish and international investment banks. It also did work in debt on both the issuer and lender side.

In M&A the firm worked on several large cross-border transactions advising targets, buyers and sellers. It continued to maintain a strong position in the Danish private equity market, advising leading investors such as EQT and GRO Capital.

In project development the firm worked for both corporate and public sector clients in the infrastructure and telecommunications space. Pulling together experience from different practice areas, the firm also launched a dedicated renewables practice.

This research cycle has seen the firm’s restructuring and insolvency team work on mandates for financial institutions operating in the region, major Danish banks and alternative investors. It worked on both in-court and out-of-court restructuring proceedings, as well as in its capacity as trustee of large bankruptcy estates across Denmark.

Senior associates Tue Rønholt Hansen and Jannie Schibler were added to the banking and finance team during the research cycle. Partner Søren Aamann Jensen, associate partner Charlotte Damsbo Lose, attorneys Gitte Mathilde Selvig Jacobsen and Nanna Sofie Jensen and assistant attorney Jon Bælum were all recruited to the firm’s restructuring and insolvency practice from Kromann Reumert.


Deal highlights: 31st edition (2020/21)

EQT Infrastructure acquisition of Molslinjen

Enemærke & Petersen acquisition of Raunstrup

Euronext acquisition of VP Securities

Nexi/Nets merger

Orkla €303 million acquisition of NutraQ

PWT Group restructuring

Sjælsø Group 700 million bankruptcy

Vestas Wind Systems €500 million investment in Copenhagen Infrastructure Partners


Client feedback: 31st edition (2020/2021) 


Banking and finance 

"Commercially focused and solution-oriented." 

"They are true experts of the law but also very commercially thinking and invest in understanding you as a client and your specific interests and drivers." 



"Very commercially oriented - trustworthy - hardworking - great people and fun to work with." 

"Accura provided us with highly professional legal assistance, mainly due to the remarkable support of Mr Torben Norskov, who headed the team. " 

"Highly professional and reliable." 


Andreas K Mylin 

"Andreas Mylin is extremely quick to understand the key problems, effective at coming up with proposals and great at getting work done within the agreed times. He takes a very serious approach and demands the same from the customer and collaborators, maintaining a good reputation at all times." 


Kim Toftgaard 

"Experienced, well connected, solutions-oriented and with a good commercial understanding." 


Mads Dambæk 

"Mads is a true expert who is always willing to invest time and resources getting to know the client and understanding the client’s position, specific characteristics and interests. Mads is very focused on applying his knowledge and expertise in a manner which maximises the output and value for you as a client. " 

"Very professional in all respects." 


Torben Nørskov 

"Torben Nørskov is an absolutely brilliant lawyer, combining very high technical skills, remarkable pedagogical capabilities, and a very diplomatic way of dealing with negotiations, enabling him to protect his clients’ interests without creating useless tensions." 


Tue Frandsen 

"Exceptionally good at finding the right solutions in challenging circumstances. Easy to work with." 


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." 



"Committed - competent- professional." 

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

"Reliable. Trustworthy. Deliverable. " 



"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." 



"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." 

DLA Piper

Founded in 2005, the international law firm DLA Piper has offices in more than 40 countries. In Denmark the firm operates out of its Copenhagen and Aarhus offices.


Focusses / specialisms

The banking and finance team is well regarded for its strong acquisition and structured finance offerings. In this space the firm often acts for pension fund investors and consortiums.

The capital markets team is experienced on the sell and buy side of debt and equity deals.

In M&A, the firm is strengthened by its global footprint and often works on cross-border transactions. The firm handles a large volume of mid-market deals and stands out for its work within private equity.

The projects team is equally competent in supporting social infrastructure and transportation projects as it is projects within the energy and mining sphere.

The restructuring and insolvency team handles a wide range of matters including bankruptcies, restructuring and liquidations. It works with many of the important Danish banks and institutions.


Key clients

Notable clients include DSV, Landesbank Hessen-Thüringen Girozentrale (Helaba), Pension Danmark, TriplePoint Capital, Merlin Entertainments, HSBC, Citibank, Carlsberg Group, AP Møller Maersk and Bank of New York Mellon.

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

DLA Piper’s banking and finance team was active in the securitization space, having acted on behalf of both issuers and investors in a plethora of domestic and international transactions. Acquisition finance was another area of strength for the practice. It notably assisted Merlin Entertainments and Legoland in the financing of the acquisition of Merlin Entertainments as well as the subsequent tap issue of €500 million. The firm was also visible in project finance, real estate finance and venture finance.

In equity capital markets, the firm advised on several transactions, often on the bank side, including the Boozt IPO, where the firm assisted sole global coordinator and bookrunner Danske Bank. In debt capital markets, the team was active in the corporate bond space, where it notably assisted DSV Panalpina on the establishment of its first EMTN programme of €2.5 billion.

In regulatory work the firm was actively involved in providing advice to its core regulated financial institution client base.

In M&A, the firm is noted for its involvement in several internationally recognised deals, as well as large deals for key players in the local banking market. The firm’s M&A team continued to be visible in private equity, assisting key private equity firms in the Danish and Nordic market.

In project development the firm demonstrated high capabilities in supporting all aspects of large projects in energy and infrastructure in Denmark.

Despite, the low levels of activity in the Danish market in 2020, the firm completed a high volume of deals in restructuring and insolvency, assisting both businesses and financial institutions.

Line Støving (banking and finance) and Per Hald (finance, projects and restructuring) departed the firm during the research cycle. Partner Lars Hagbard joined the firm in capital markets. Christian Benedictsen-Nislev joined the firm’s projects practice. John Emil Lyngfeldt Svenson, Martin Christian Kruhl and Kenni Svanholm Jensen were the most recent additions to the firm’s M&A team.


Deal highlights: 31st edition (2020/21)

ABN AMRO Energy Transition Fund investment in Fiberline Composites

Boozt €80 million listing

DEAS Group €4 billion acquisition of Aberdeen Standard Investments asset management business

DSV Panalpina €2.1 billion EMTN programme

Motion Acquisition/Legoland €500 million bond issue

Polaris Private Equity acquisition of Vikingbus Group

Polhem Infra €903 million acquisition of Telia Carrier Group

The Bank of New York Mellon Corporation acquisition of Nykredit’s depositary business


Client feedback: 31st edition (2020/21)


Banking and Finance 

"Putting the details into writing." 

"Quick answers." 

"I consider their work to be professional with a high standard." 

"Very good accessibility, high competence and quick to respond." 

"Very good accessibility, professional high standard and quick to respond." 


Capital Markets 

"Available and good knowledge." 


Capital markets : Structured finance and securitisation 

"Very knowledgeable partner in this area and with the ability to focus on the material aspects, securitisation regulation." 


Financial services regulatory 

"I have met with several specialists from DLA, which gives me the sufficient calmness and trust in their problem-solving." 



"In-depth analysis and relevant advice, issued on a timely basis." 



"DLA provided excellent support, were super-responsive, professional and dedicated. The team worked with us, understood the challenges, the business of our company, and helped us take decisions around legal risk and find solutions to issues arises along the process." 

"Competent, professional, client-focused, commercial-oriented and fast responding. " 

"Professional and competent, great service, pleasant to cooperate with, very good communication skills." 

"Strong local and international skills, team and experience." 

"Proactive - commercially minded - partner's ability to take 80% of decision without our involvement." 

"DLA handles all the complex stuff for us, ie M&A, strategic advice on where we need to anchor this in the business development, structuring of deals and group matters, partnership matters where we have minority interests and need to cater the exit case when upcoming. Services are top tier and second to none. There are cross-border elements in our business and that is their particular strength, making them stand out, in addition to their ability to boil down complexity to operational matters assisting us in pursuing our growth strategy. Karsten's particular strength is that he is extremely strategic, non-legal and likeable in his approach, but with a legal tool-box beyond comparison. " 

"Every individual I had the pleasure of working with at DLA Piper was not only extremely hardworking and a brilliant lawyer but also an extremely good communicator, which in my view is a key differentiator to many competing firms. DLA Piper Denmark delivers solutions to complex problems. Working with many advisers and managing several workstreams on every deal that I am involved in, it is extremely helpful for an adviser to anticipate issues and already present a solution when the problem arises, and DLA Piper does just that. " 

"Extremely competent with both a 360-degree analysis on all major topics as well as a very pragmatic approach and recommendation on all major issues. Very easy to work with and in combination with very fast processing, the quality is exceptionally high." 

"Very efficient, pragmatic. Very much on the ball and responding swiftly. Lots of deal experience and having market intelligence. " 

"Very high skill-set, experience and ability to close deals, dispute and find solutions. In addition, extreme speed/bandwidth, accuracy, availability. Finally also very skilled associates and specialist functions." 


Private Equity 

"High degree of knowledge and fast processing." 

"DLA Piper Denmark has good knowledge of the markets and the applicable law and has been a great asset in negotiating and assessing the bids and the contracts in the case. They are very accessible and in general provide their assistance within the agreed time frames." 


Project Development 

"High-quality advice. Fast response. Good problem-solving skills. Deep knowledge of energy sector." 


Restructuring and insolvency 

"Trine Hasselbalch has contributed fantastically to the board work, in particular Trine Hasselbalch has put a lot of effort into a virtual seminar with three speakers on insolvency-related topics and facilitated the introduction and moderator job very impressively and got praised extensively - fully deserved. Henrik Sjorslev as a board member of DLA has done a great job in reviewing, commenting, participating in new legislation work regarding amended restructuring rules in Denmark as well as regarding a report launched by the Danish competition authorities on competition among insolvency lawyers/the insolvency practitioners' work filed." 


Ditte Lundberg 

"Showed professionalism, understanding the matters in place, problem-solving, excellent responsiveness." 


Henrik Lund-Koefoed 

"High-level assistance and in-depth knowledge." 


Ian Tokley 

"Very solutions-oriented and with a strong ability to focus on material aspects of the matter. Also has a very strong knowledge of securitization markets and regulation." 


Jacob Sparre Christiansen 

"High-value advice. Easy accessibility. Deep sector knowledge. Problem-solving skills." 


Jens Krogh Petersen 

"Showed professionalism, understanding the matters in place, problem-solving, excellent responsiveness." 

"Competent, professional, client-focused, commercial-oriented and fast responding. " 

"Jens is a brilliant lawyer, very hard working and a great communicator. At the same time, he and his team are great at anticipating issues to which they then develop a great solution." 


Joachim Kundert Jensen 

"Very good accessibility, high professional standards and quick to respond." 

"Very good accessibility, high competence and quick to respond." 

"Very good accessibility, high competence and quick to reply." 

"Deep specialist knowledge." 


John Svenson 

"Very diligent and pragmatic. He only needs half a word to get things done." 


Karsten Pedersen 


"Extremely customer-oriented, dedicated and solutions-driven (finding the right battles to fight). Very competent with high skill set. Fast, accessible and knows our business." 

"Quality is just a level above most others. Very easy to work with and very fast processing time. Always available." 

"Very solid, strategic, swift and with a winning personal attitude." 

"Very efficient and pragmatic. Very much on the ball and responds swiftly. Lots of deal experience and plenty of market intelligence." 


Kristian Skovgaard Larsen 

"Very friendly and proactive. Very accessible and also open to feedback." 


Martin Christian Kruhl 

"Fast response, a high degree of knowledge and business thinking. " 


Morten Schultz 

"Professional and pragmatic." 

"He knows my line of business – not only the legal challenges but also the strategic challenges." 


Nicholas Lerche-Gredal 

"Very personally engaged with the matter and had excellent client relationship manner. Nicholas was commercial and focused on delivering against timelines." 


Peter Schaefer 

"Very knowledgeable on the industry, very commercially minded. Reads up thoroughly on what we need as clients." 


Sara Schjørring 

"Knowledgeable, customer-oriented, structured, accessible." 


Trine Hasselbalch 

"Knowledgeable, business-orientated, good communicator." 


Ulrich Hejle 

"Responsive, professional and highly respected among my customers as well." 

Elverdam Law Firm

Established in 1868, the boutique Danish law firm Elverdam Law Firm operates out of an office in Copenhagen.


Focusses / specialisms

The firm is best known in the Danish legal market for its M&A work and its focus on assisting in-house legal counsel.

In the M&A space, the firm’s primary focus is on international businesses operating in Denmark, as well as Danish businesses with an international profile.

The firm also does work for targets, such as technology companies, as they receive financial investments from corporate and private equity funders.

The firm is active on transactions within the technology, banking, real estate and production sectors.

Research period review: 31st edition (2020/2021)

During the research cycle the firm was active in the M&A space.

The firm's involvement was typically on the sell side with a lot of the work done having cross-border elements.


Client feedback: 31st edition (2020/2021)   



"Extremely solution-oriented and focused." 

"They are fast, agile, accurate and cost-effective." 

"Elverdam is always trying to support the commercial aspects of the transactions we perform. That means that they are very solid and constructive when dealing with the counterparty's requests and wishes. Furthermore, they are always well prepared, which means we show a level of confidence and readiness which makes the transactions run smoother. "


Jakob Juul Christensen 

"Absolute star. Has an ability to constantly keep an eye on the overview and to facilitate the deal." 

"Results-oriented, direct, constructive and a good communicator. " 

Gorrissen Federspiel

Danish law firm Gorrissen Federspiel has a history that goes back to the late 1800s. The firm has offices in the cities of Aarhus and Copenhagen.


Focusses / specialisms

The firm boasts strong transactional practices in banking, M&A, capital markets and restructuring, with the firm generally maintaining a good share of the market’s significant deals in these areas.

Its banking and finance team was broadly active in financing work, including leveraged financings, asset back-financings, general corporate financings and project related financings. Alongside transactional work, the firm is known for its regulatory practice which focuses on advising credit institutions, insurance companies and asset managers.

The equity capital markets team boasts strong transactional capabilities, often advising on the largest Danish IPOs and stock exchange listings. Every year the team also advises on numerous private placements and rights issues. The firm is similarly strong in debt capital markets, where it advises most Danish issuers with an EMTN or other international debt programme. The debt capital markets team is also recognised for its work in the high yield bond space.

In M&A, the firm maintains a stronghold in the Danish market by conducting market-leading work by value of transactions. It advises Danish and multinational companies and private equity funds on acquisitions, mergers, disposals, corporate restructurings, management buy-outs and compliance.

The restructuring and insolvency team is recognised for administrating the largest restructuring and bankruptcy matters in Denmark. Closely aligned with the firm’s banking and finance group, the team maintains strong relationships with major creditor financial institutions and the Danish Government.


Key clients

Danske Bank, Danmarks Nationalbank, Bain Capital, Carlsberg, KommuneKredit, Realkredit, FSN, EQT, Vækstfonden, Vestjysk Bank, Nordea Danmark, Vestas Wind Systems, the Danish Tax Authorities, Novo Nordisk, Chr. Hansen Holding are among the firm’s key clients,

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

The firm’s banking team worked on several prominent acquisition financings during this research cycle for many of its corporate and banking clients. It also notably advised listed company Aktieselskabet Schouw on its multicurrency revolving credit facility agreement.

In the equity capital markets space the firm played a role on all three Nasdaq Copenhagen listings, including the HusCompagniet IPO - the first traditional main market IPO with a public offering in two years. It also worked on several prominent rights issues and private placements, typically on the issuer side. The debt team experienced similarly high volumes of work, advising on a few issuances and programme updates most frequently on the borrower side.

In M&A the firm worked on practically all landmark transactions in Denmark. It worked for both private equity firms and corporates on complex transactions which often had cross- border elements. The team’s advice to such clients as Salling, Chr. Hansen Holding, Vestas, Intact Financial Corporation / Tryg and SEAS-NVE is representative of the complex, high-value deals for which it has carved out a leading reputation.

The restructuring and insolvency team worked on many of the most complex bankruptcies in Denmark during the period in review, including the bankruptcies of Apollovej, TOP-TOY and OW Bunker.


Deal highlights: 31st edition (2020/21)

Aktieselskabet Schouw DKK 2.775 billion multicurrency revolving credit facility agreement

Apollovej €150million bancruptcy

Boozt €81 million listing

Intact Financial Corporation and Tryg £7.2 billion acquisition of RSA

EQT €800 million acquisition of Chr. Hansen Natural Colors

HusCompagniet €151 million IPO

OW Bunker $17 billion bancruptcy

Salling Group €202 million acquisition of Tesco Polska

SEAS-NVE DKK21.3 billion acquisition of Danish power distribution, residential customers and city lighting business of Ørsted

Vestas Wind Systems €709 million acquisition of 50% stake in MHI Vestas Offshore Wind


Client feedback: 31st edition (2020/21)


Bank lending : Borrower side 

"Proactive, professional, fast execution and trustworthy." 


Banking and finance 

"In-depth knowledge of the legal area and good communication with me as a client and the counterparty. Aimed at finding solutions." 


Capital markets 

"They are extremely experienced in this area and really are a safe pair of hands. " 

"Clear, authoritative advice. Proactive suggestions. Quick turnaround. " 

"Great to work with, you feel you are in really good hands." 

"Legal qualifications and service level very high. Responsive to their client." 

"Provides highly specialised advice and strategic sparring. Works fast and efficiently, and any deliverables are of a high standard and quality. " 

"Specifically Anders Orjan Jensen is a great sparring partner. He understands the complexity of navigating in a complex industry and provides solid and valuable advice. He is a great listener which enables him to provide targeted advice." 

"They have a solution-oriented approach and are good at balancing the legal requirements with the circumstances of the real world. " 


Capital markets : Equity 

"Efficient, professional, on time." 



"Extremely high-quality advice and committed attention and availability." 

"Hands-on approach, always available, strong M&A skills, one-stop shop, many resources." 

"Offering is very complete in terms of our needs and they know our business very well. Gorrissen Federspiel stays in touch with the development inside and outside our business. " 

"They have broad coverage and are very flexible." 

"They know telecom and adapt their advice accordingly." 

"They know their stuff well. Most of the partners have a good commercial understanding and use that in their legal advice." 


Restructuring and insolvency 

"The Gorrissen team were able to deliver commercial solutions to difficult problems. " 

"They are extremely competent in the airline industry and with a proactive and creative approach." 

"They are very responsive and communicate clearly. They are experts in cross-border insolvency matters." 


Anders Ørjan Jensen 

"Anders Ørjan is extremely experienced in his field, and provides legal and strategic advice tailored to the client’s needs. He works fast and is efficient, and what he delivers is of a high standard." 

"Great listener, which enables him to provide targeted advice. Good sparring partner – he understands the complexity of implementing capital markets law-related issues internally. Always available and one of the best lawyers in Denmark in his field." 


Chantal Pernille Patel 

"Very responsive, efficient and proactive." 


Christoffer Fode 

"Christoffer is a perfect fit for our company. He provides competent advice and sparring before, during and after the process." 


Klaus Søgaard  

"Klaus Søgaard has longstanding experience in capital markets law and an in-depth knowledge and understanding of the area." 

"Very knowledgeable and innovative." 


Michael Meyer 

"Michael is very nice and kindly, easy to walk together with. Michael is really hard working and know what he is talking about. You feel very comfort working with Michael" 


Morten Hans Jakobsen 

"Morten is a strong negotiator with an ability to deliver commercial solutions to complex problems. " 


Preben Jakobsen 

"Preben is very responsive and communicates clearly. He is an expert in cross-border insolvency matters." 


Rikke Schiøtt Petersen 

"Rikke is just the leading lawyer in capital markets in Denmark and doing very well. Good at handling stakeholder management and very hardworking." 

"Pleasant, responsive and high legal qualifications." 

"Unparalleled ECM experience among her peers." 


Tina Herbing 

"Excellent in-depth knowledge on legal matters. Good and friendly communication and excellent problem-solving skills. Comes up with solutions." 

"Very supportive and thorough." 


Tobias Linde 

"Very supportive and thorough." 


Danish law firm Horten was founded in 1953. It has offices in Copenhagen, Aarhus and Herning.


Focusses / specialisms

The firm is best known for its work in project development, but it has a credible financial and corporate offering across the board.

In banking the firm is strong across a range of financing transactions, as it offers specialist expertise to borrowers and lenders.

In capital markets work the firm is experienced within the debt and equity markets in Denmark and abroad. The team acts for issuers, banks and investors and advises not only on listings, de-listings and issuances, but also on corporate governance.

In M&A the firm is especially visible in private equity and venture capital.

Within project development the firm advises a significant number of players in the Danish North Sea, as well as the state-owned entities. The firm also advises Danish utilities, local governments and publicly owned ports, and has increasingly been active in the renewable energy sector.

The firm is also known for its work on high number of restructuring and insolvency cases each year. It is particularly strong in the retail and production sectors in Denmark.


Key clients

Key clients include Spirit Energy, LHI Group, NGF Nature Energy, E.on, Energinet, HOFOR, Carlsberg Byen, Bayerische Landesbank, Waterland Private Equity, Barclays Bank, Capital One, Alcentra, Polaris Equity, Adelis Private Equity, Maj Invest, G4S, Nets


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

In banking and finance, the team excelled in providing advice to a whole range of Danish corporate and financial clients. It was active in the acquisition financing, real estate financing and project financing space, where it assisted such notable clients as Carlsberg Byen, Bayerische Landesbank and Waterland Private Equity.

The firm’s capital markets involvement during this research cycle included programme updates and rights issue work typically on behalf of issuers. The firm also notably advised G4S on the effects of Brexit in respect to its secondary listing on NASDAQ Copenhagen.

The M&A team consolidated its position in advising leading clients in the private equity and venture capital space. Its work spanned several key sectors in Denmark, including most prominently technology, professional consultancy, healthcare and energy.

The firm’s projects team demonstrated strength in supporting projects for private and public sector clients in energy and infrastructure. A good example of the team’s capabilities in the space is its continuous assistance to Energinet, in the largest and most complex gas pipeline projects in Denmark in recent memory.

The firm was visible in restructuring and insolvency. The firm was appointed as bankruptcy trustee in several cases. It also completed in-court restructurings proceedings.

Senior attorney Andreas Schønbeck joined the projects team in March 2020.


Deal highlights: 31st edition (2020/21)

Carlsberg Byen DKK3.7 billion financing

G4S Nasdaq Copenhagen secondary listing

Kuslin 39.6MW wind park

Lolland and Falster green gas grid

Sorø 180MW solar power plant

Sustainable Bio Solutions Aabenraa biogas plant

Silverfleet Capital acquiition €104 million of Collectia


Client feedback: 31st edition (2020/21)


Asset finance 

"Very knowledgeable, easy to access." 



"The Horten team provided the perfect combination of strategic advice and pragmatic solutions. Their ability to proactively identify and raise potential issues, coupled with a solutions-driven and can-do attitude, were invaluable in navigating a takeover in the middle of Brexit. The Horten team's ability to take a holistic approach, including appreciating cross-border issues and cultural differences, was also a strong point. " 


Project development 

"Full service firm with deep energy sector knowledge. Strong team with outstanding track record, client-driven and very easy to work with. Truly first class." 


Project development : Energy 

"Klavs Gravesen had a settlement note ready for both parties. He took extra discussions with both parties, and facilitated a settlement. He strongly argued for us not to fight it, but settle by an agreement. He is reliable and trustworthy." 

"They are flexible, fast and competent." 



"Bo Christensen is very pleasant to work with. Professional and skilled." 


Restructuring and insolvency 

"Horten always provides high-quality advice. Horten is always solution-oriented and has extensive experience in the field of restructuring and insolvency." 

"Quick to respond, very knowledgeable with regards to the subject matter at hand, efficient in dealings and very fair in terms of cost." 


Bo Christensen 

"Pleasant to work with, skilled and highly professional." 


Christian Tullberg 

"Very pleasant, fast-thinking lawyer. Always there when you need him. Excellent dealmaker. Understands the full scope and all details of the energy practice. Go-to person for all our energy-related matters in Denmark." 


Jan Bech 

"Very knowledgeable, easy to understand and also proactive in giving advice." 


Jeroen Terstegge 

"Very pleasant, fast-thinking lawyer. Always there when you need him. Excellent dealmaker. Understands the full scope and all details of the energy and corporate practice. Really able to zoom in and out, focus on the big-ticket items without losing the details. Go-to person for all our energy and corporate related matters." 


Klavs Graversen 

"He is trustworthy, innovative and has integrity. He listens, so he can come up with a solution that is fair. He can explain why a compromise is needed. " 


Line Markert 

"Broad knowledge. Good advice." 

"She is positive, flexible and fast." 


Lise Lotte Hjerrild 

"Lise Lotte can cut through the technical difficulties to focus on the key and pertinent points she needs to get across to the client. A very open, dynamic personality with a lot of emotional intelligence, she has presence, charisma, great negotiating skills and she never loses sight of the goal. A fantastic asset to lead in a complex situation where key stakeholder management is equally as important as the law." 


Nicolai Thornemann 

"Nicolai is a great lawyer. He primarily covers assignments in the western part of Denmark (based in Aarhus). Nicolai always provides high-quality legal advice. He is easy to get along with and has empathy for his surroundings. He is well liked by his clients and other advisers. He is always solutions-oriented. He has a lot of experience in the field of restructuring and insolvency." 

Kleist Legal

Established in April 2020, Kleist Legal is a highly specialised boutique law firm focusing on regulatory matters, projects and disputes.  


Focusses / specialisms  

Among the financial and corporate practice areas the firm is particularly adept in the projects space. It has extensive experience and knowledge of the energy and life sciences sector. 


Key clients 

Key clients include Danske Olieberedskabslagre – FDO, Hovedstadsregionens og Midt-NordsEvida, Frederiksberg Fjernvarme and European Energy. 


Research period review: 31st edition (2020/2021) 

The firm had an active first year in the projects space, with advicse provided in both project support and transactional mattersExamples of the team’s work during the research cycle include assisting on the transfer of Shell’s business in Fredericia to Postlane Partners and advising on the divestment of HMN’s commercial gas trading company HMN Naturgas and its gas distribution grid company HMN GasNet P/S. 


Deal highlights: 31st edition (2020/2021) 

HMN Group divestment of HMN Naturgas 

Postlane Partners acquisition of a Shell refinery in Fredericia, Denmark 

Gode wind 03 offshore wind farm project 


Client feedback: 31st edition (2020/2021) 

Project development : Energy 

"The law firm knows where it's at and helped us bring good arguments against the Danish utility regulator. It found good solutions." 

Kromann Reumert

Danish law firm Kromann Reumert was established in 2000. It has offices in Copenhagen, Aarhus and London.


Focusses / specialisms

The firm has a consistently strong offering across all financial and corporate categories.

In banking the firm has a strong acquisition finance practice, which advises clients as they look to borrow, lend and secure funds to merge. The firm is also active in advising lenders and borrowers across a range of financing types.

In capital markets the firm regularly conducts transactions in the debt, equity and structured finance domains. The firm represents on a regular basis leading Nordic and international financial institutions and investment banks, as well as many Nasdaq Copenhagen C25 listed companies.

The M&A team regularly advises on large- seize mandates across several of Denmark’s leading sectors. The team also works on small and mid- size deals.

The project development team advises across a wide range of industries and sectors, with strong capabilities to support projects in Denmark and overseas. 

In restructuring and insolvency the firm is regularly involved in the most notable matters in Denmark. It advises the leading Danish banks, as well as foreign banks, private equity firms, investment and hedge funds and creditors.


Key clients

Key clients include Nordea, Danske Bank, Nykredit Bank, Ørsted, Carlsberg, DLR Kredit, TryghedsGruppen, Novo Nordisk, Bavarian Nordic, NKT, Capital Four, Danica, Altor, EQT, Via Equity, Apple, Bergen.


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

In banking the firm worked on many prominent acquisition financings during the research cycle, including on several cross-border deals. The firm was also visible in bond issuance, fund financing, refinancing, real estate financing and ship financing work.

The firm’s equity capital markets work included several prominent rights issues and private placements. The firm was active in debt capital markets where it worked on bond issuances and EMTN programmes, primarily on the side of issuers. In structured finance the firm notably advised Capital Four on a CLO issuance.

In M&A the firm worked on many of the market’s most significant private and public transactions on both the buy and sell side.

In the project development space the firm was active in real estate. It also acted as an advisor on a high number of green field projects in the Danish energy sector, as well as early development projects in Denmark, Taiwan, Mexico and the Dominican Republic.

Despite the lower levels of activity in the market over the previous research cycle, the firm’s restructuring and insolvency team had a strong year, working on some highly complex mandates. In one notable example, the firm was engaged by a financial creditor to complete the complex in-court restructuring of PWT Group.

Senior associate Nora Kjær-Christensen departed the firm’s debt capital markets practice at the start of 2021. Partner Jens Hyldahl Bjerregaard left the M&A team during the research cycle. Partner Søren Aamann Jensen departed the restructuring and insolvency area in March 2021.


Deal highlights: 31st edition (2020/21)

Aktieselskabet Schouw $449 million financing

Bavarian Nordic $430 million rights issue

Capital Four €356 million CLO issue

Dampskibsselskabet Norden reorganisation

PWT Group restructuring

Intact Financial Corporation and Tryg £7.2 billion acquisition of RSA Insurance Group

Orifarm $746 million acquisition of pharmaceutical products and manufacturing sites from Takeda

Orphazyme $110 million private placement

Royal DSM $873 million acquisition of Glycom

Vestas acquisition of shares in MHI Vestas Offshore Wind


Client feedback: 31st edition (2020/2021)


Bank lending : Borrower side 

"Commercial, not too formal, not confrontational in style." 

"They are very knowledgeable combined with a very good business/industry understanding that they apply successfully. They respond quickly and are very pleasant to work with. " 


Bank lending : Lender side 

"Product matter expertise." 


Capital markets 

"Always able to provide useful responses to our questions." 

"Strong legal qualifications." 


Capital markets : Debt 

"Commercial understanding. Sharp legal attention, fast responses." 

"Competitive price compared to international law firms. Responsive. Good balance on views of banks and clients. " 

"They are service-minded and with a focus on solutions to the problems at hand. The professional integrity is high and the dialogue is characterised by a friendly and professional atmosphere. " 


Capital markets : Equity 

"Solid knowledge of our situation and the field of corporate elements in equity increase in a stock listed company. " 


Capital markets : Structured finance and securitisation 

"Highly responsive, creative, product matter experts." 


Financial restructuring 

"A very commercial attitude with excellent results." 


Investment funds: Hedge funds 

"Professional. Very user-friendly. Prompt responses and pragmatic advice." 


Investment funds: Private equity funds 

"Good advice and understanding of our firm." 



"In-depth legal understanding and experience. Understand the different roles we play in M&A setting. Create trust with common client. Creation of good working atmosphere. Work well together." 

"Tier 1 knowledge of the sector, always available and a sterling legal aid, and commercial understanding of value drivers in the transaction." 

"Very professional. Good quality attention to detail. Good with the client." 

"We benefit from significant experience in drafting and negotiating the transaction documents - and in organising the due diligence work." 


Project development 

"Competent and professional legal advice." 

"Kromann Reumert always bring strong subject-matter specialists to the projects where we have been involved. In particular, Kromann Reumert has a strong energy and infrastructure franchise. In my opinion, Kromann Reumert is a tier-1 law firm in Denmark within M&A and project development." 


Project development : Energy 

"I believe that they have the strongest and most experienced team in Denmark within energy, especially when it comes to transactional work. Besides being very strong lawyers, their sector understanding is second to none." 


Restructuring and insolvency 

"Very professional and highly competent partners, which is combined with a sound commercial approach to solve situations in a pragmatic way." 


Anders Lavesen 

"Extremely knowledgeable. Has a great ability to add value." 


Christian Jul Madsen 

"Very commercial attitude. Always a good communicator regarding the state of the case." 

"Very high level of knowledge. Strong negotiation skills. Strong commercial insight." 


Christian Lundgren 

"Always able to provide useful, clear and pragmatic answers to our questions." 

"High legal qualifications and high service level." 

"Knows our firm well." 

"Very experienced, very significant work rate and always accessible. Always able to deliver pragmatic advice." 


Christian Richard Paarsgaard Ibsen 

"Good subject-matter expertise (energy and infrastructure). Very thorough and precise." 


Jacob Møller 

"Good knowledge of our company and business area, which means he always gives us relevant and competent advice." 


Jakob Bernhoft 

"Jakob is very commercial and has very good all-round knowledge, in addition to being a financing specialist. Extremely pleasant to work with and has a manner towards the opposing party that ensures the matter gets solved (instead of ending up in court)." 


Jan Hvarre 

"Professional, competent, innovative and are very adaptive to our needs. Understand our business and seek solutions." 


Jens Blomgren-Hansen 

"Jens has a second-to-none knowledge of the renewables industry. He is the go-to guy, if you are involved in renewable energy transactions, nationally and internationally. He knows the value of the projects and has an in-depth experience that gives us as a client the upper hand in negotiations." 

"Very good in understanding risks and building air-tight project development solutions. Always well prepared." 


Jeppe Lefevre Olsen 

"Very professional and knowledgeable on tender rules, contract management and construction law." 


Kim Rasmussen 

"Kim is very knowledgeable on finance. Combined with a very good business and industry understanding and a pleasant personality, this makes him a pleasure to work with." 

"Focuses on solutions. Follows up on outstanding issues. High-quality legal knowledge." 

"Highly professional, very skilled lawyer and good at process management." 


Marianne Philip 

"Deep knowledge in corporate matters/equity increase. Solid track record. Commands respect, personally as well as professionally." 


Teis Gullitz-Wormslev 

"Pragmatic advice. Sees the big picture. He takes time to understand his clients and their needs, which means he understands how to approach things." 


Thomas Kaas 

"Creative, constructive, commercial." 

"One of the most constructive and creative lawyers with whom I have worked. Excellent balance of risk management and commercial solutions." 


Danish law firm Lundgrens was established in 1996. The firm operates out of Copenhagen.


Focusses / specialisms

Known for its M&A offering, the firm also has a strong presence in banking, as well as restructuring and insolvency.

In banking the firm is recognised for its financing work. In recent times in the banking area the firm was active within the energy and real estate sectors, acting on a mix of acquisition financings, project financings and corporate loans. 

The M&A team acts for both buyers and sellers across sectors such as oil and gas, media and entertainment and TMT. The firm also does work for international and domestic private equity clients.

The firm specialises in all financing matters in insolvency and restructuring scenarios.


Key clients

Key clients include Danske Bank, Nordic Real Estate Partners (NREP), Spar Nord, Artha Investment Management, Scope Investment, +Plus Pension, Nordic Trustee & Agency, Blackbrook, Fleetcor, Findos Investor, Verdane Capital and Logpoint.


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

The banking and finance team was highly active during this research cycle, working on several notable financing transactions for both lenders and borrowers. The team’s advice to NREP in a landmark DKK 834 million project financing is a good example of its ability in the area.

The firm’s M&A team maintained its already strong position in the private equity space, where it advised on several landmark deals on the seller side.

In restructuring, the firm notably assisted Nordic Trustee & Agency in the reconstruction of the menswear chain Tøjeksperten - the largest reconstruction in Danish history.

M&A partner Morten Rosenmejer departed the firm in November 2020.


Deal highlights: 31st edition (2020/21)

Findos Investor divestment of Collectia

Herlev Bymidte Shopping Center DKK 834 million project financing

Polaris Private Equity acquisition of Vikingbus

Polaris Private Equity acquisition of Contour Design

Tøjeksperten DKK 286 million reconstruction

Client feedback: 31st edition (2020/21)


Asset finance 

"They were swift and accurate and understood the purpose and the commercial side as well as the legal side." 


Bank lending : Lender side 

"Strong knowledge about the real estate market and the financing market incl. loan structuring. Good accessibility to partners." 


Financial restructuring 

"Assistance towards bank and their lawyer. Obvious experience within the area and very flexible regarding both internal and external meetings." 



"Professional in all aspects, fast and result-oriented. " 


Private equity 

"Hands-on and knowledgeable in their field." 


Restructuring and insolvency 

"Even though the case may seem difficult, they always try to get the company through in the best possible way." 


Kristian Andersson 

"Very “easy-going”, showing an honest interest in the client and the people involved. Able to understand the actual issues and the client’s  ability to chip in." 

"Kristian is the  one lawyer in the Danish industry I have worked with who seems to have the right commercial mindset, together with a high degree of personal empathy – a rarity in this sector." 

"Very pleasant to work with, responsive and knowledgeable." 


Lars Kjær 

"Strong knowledge about the real estate market and the finance markets. Good accessibility." 


Peter Bruun Nikolajsen 

"Very experienced. Knows the processes and how to reach a result." 


Peter Mollerup 

"He is highly skilled and solutions-oriented." 


Pia Lykke Mathiasen 

"Maintained and defended my interests." 

Moalem Weitemeyer

Established in 2008, the Danish law firm Moalem Weitemeyer is based in Copenhagen.


Focusses / specialisms

The firm is known best for its work in the M&A area, with its work for private equity firms being at the core of the practice. The firm also has a strong presence in banking and finance, capital markets and restructuring and insolvency.

The firm’s banking and finance practice is best known for its acquisition and asset finance work. Other pillars for the practice are regulatory and debt offerings.

The capital markets team provides regulatory and transactional advice specialised in public to private deals and equity issues.

In M&A the firm regularly works on cross-border private and public transactions, representing a mix of corporate and private equity clients.

In the restructuring and insolvency space the firm is recognised for its work on bankruptcy cases for creditors such as Danske Bank and Nordea Bank.


Key clients

Key clients include Apax Partners, FSN Capital Partners, KPS Capital Partners, Chr. Augustinus Fabrikker, Nordic Capital, Röko, Axcel, Axcel Management, JOOL Capital Partners and Pandora.

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

The firm’s banking and finance team performed strongly in the acquisition finance thanks, in part, to its close cooperation in the firm’s M&A and private equity team. The team was also visible in the debt offering space, where it assisted a range of corporate and financial clients.

In capital markets, the firm notably advised several listed companies in Denmark, Europe and the USA. It was active in both equity and debt, advising on a diverse spectrum of work, including corporate bond issues, equity offerings and financial restructuring work.

The firm was visibly strong in M&A during the research cycle, advising on the buy and sell side of several deals with cross-border dimensions. One key example of the firm’s strength in the area is its work as a Danish counsel to Adevinta in connection with the acquisition of eBay’s Classifieds Group.

Partner Bjørn Krog Andersen left the firm in mid-2020.


Deal highlights: 31st edition (2020/21)

Adevinta $9.2 billion acquisition of eBay’s Classifieds Group

FSN €175 million acquisition and revolving credit facility

Pandora €241 million accelerated book build offering

RelyOn Nutec Group €100 million debt restructuring


Established in 1918, the Danish law firm Plesner is based in Copenhagen.


Focusses / specialisms

The firm is one of Denmark’s leading law firms and is known for its strength across the board.

The firm’s banking team often advises on several of the market’s largest acquisition financings, project financings and refinancing mandates for both borrowers and lenders. 

In the capital markets space, on the debt side, the firm regularly advises on bond issues. On the equity side the team often assists clients with the listing of new shares and on IPOs.

The M&A team advises acquirers and sellers on several of the jurisdiction’s largest acquisitions, mergers and joint ventures.

In project development the firm has a reputation for supporting large construction projects. The firm is also highly active in the Danish oil and gas sector.

The restructuring team regularly works on a number of high-profile financial restructurings and insolvencies.


Key clients

Key clients include Danske Bank, TDC, Nordea, BNP Paribas, Svenska Handelsbanken, EQT, LEO Pharma, EKF, Netcompany Group, Danish Ministry of Finance, Zealand Pharma Morgan Stanley, Carnegie Investment Bank, Tryg, Advent International, FSN Capital, Nordic Capital, Total, RWE, Gaz-Systems and Hess.

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

During the research cycle the firm’s banking team acted on several of the market’s leading acquisition financings and cross-border transactions involving a Danish target. The team was also a preferred advisor on many of the market’s most significant financing matters relating to the outbreak of COVID-19. These include emergency liquidity financings, re-financings, amendment/ waiver processes and recapitalisations.

In equity capital markets the team was active in the listings space, most notably advising the joint global coordinators on the Orphazyme US IPO and global offering. The firm also worked on several rights issues and was highly active in the accelerated book-build / PIPE space. In debt capital markets, the team assisted on several prominent issuances (including in the high yield and hybrid space) predominantly on the issuer side.

The M&A team acted on some of the most complex deals on the Danish market. One example of the firm’s strong performance in this domain is its involvement on the buyer side of the multi-billion, cross-border acquisition of RSA Insurance Group by Tryg and Intact Financial Corporation.

In projects, the team continued to support a plethora of developers, contractors and investors on large infrastructure and construction projects. Highlights include support of the Fehmarn subsea tunnel project and the construction of three international airports in Greenland.

In restructuring and insolvency, the team acted on a high number of cases predominantly on the creditor side, representing major Danish and international banks, insurance companies and investors.

Senior lawyer Simon Lindvig Rasmussen joined the banking and finance team during the research cycle. Partner Brian Bundgaard was recruited to the M&A team. Mathias Vestergaard Christensen, Anne Louise Haack Andersen and Thomas Skougaard joined the project development practice. Project development partner Peter Wengler-Jørgensen retired from practice during the research cycle.


Deal highlights: 31st edition (2020/21)

A.P. Møller Holding €1.9 billion acquisition of Faerch Group

Asahi Kasei Pharma Denmark acquisition of Veloxis Pharmaceuticals

Bestseller revolving credit facility

EQT acquisition financing

Fehmarn Link project

ISS Global €700 million revolving credit facility

Intact Financial Corporation and Tryg £7.2 billion acquisition of RSA Insurance Group

Kalaallit Airports

Orphazyme IPO


Client feedback: 31st edition (2020/2021)  


Bank lending : Borrower side 

"Good knowledge and insight of relevant precedent documentation for the relevant financial sponsor. Overall kept a great overview of a fairly complex transaction with various deal-specific peculiarities." 


Bank lending : Lender side 

"The banking and finance team of Plesner is very knowledgeable and experienced within a broad range of financing types. They are very approachable and deliver excellent service. In particular, Thomas Maaberg is a very good sparring partner and has a pragmatic approach while at the same time being observant to all relevant legal considerations. He is also good at listening to and addressing clients' needs." 

"The firm is very much up to speed with the latest trends and developments within the loan market on legal aspects and operates in a flexible and efficient manner, which is needed on the processes." 


Banking and finance 

"Provides high-quality advice with a clear understanding of the client's business and need. " 

"Highly commercial approach, second-to-none market insights and swift responses." 


Capital markets 

"Extremely focused and pragmatic. Super to work with and flexible. " 

"Highly competent, excellent business partner - always available when needed." 



"Client-first attitude, top professional and highly skilled." 

"Excellent and precise work. Great project management. Good commercial input." 

"Responsive and sensible advice." 

"Broad range of services. Constructive and thorough through solution models." 


Project development 

"Plesner is extremely professional as a law firm. Its lawyers are world class and the firm has significant depth in terms of advisory experience and capability." 


Project development : Energy 

"Clear, concise and commercially pragmatic advice." 



"The team led by Michala Roepstorff is very skilled. Michala has the ability to solve large and small cases in the same professional way." 


Restructuring and insolvency 

"Michala Roepstorff is very strong in cross-border issues, extremely competent and pleasant to work with." 

"Very pragmatic support with clear guidance on what are the different steps to take to progress and conclude specific files." 


Alexandra Jakobsen 

"Excellent and precise work, great project management, and good commercial input." 


Anne Cathrine Ingerslev 

"Excellent lawyer with very strong business understanding, collaboration and communication skills." 


Anne-Sophie Bundesen 

"Anne-Sophie is a pleasure to deal with. She is extremely knowledgeable and helpful. Anne-Sophie is very commercially focused and provides clear and concise legal advice. She has been a fantastic support to us in the expansion of our business to Denmark." 

"Clear communication and pragmatic client-friendly advice." 


Ellen Skodborggaard 

"Very thorough and user-friendly with complex matters." 


Hans Hedegaard 

"Excellent and precise work, great project management, and good commercial input." 


Jacob Falsner 

"Jacob is extremely knowledgeable in the fields of employment and privacy law and is very supportive.  He is highly responsive and solutions-focused. He has been an immense support to us in the expansion of our business to Denmark." 


Lars Skanvig 

"Very clear and well-structured advice with good responsiveness. Willingness to go the extra mile to support the client." 


Martin Anton Saver 

"Commercial and responsive." 


Michael Schebye Brandt-Jensen 

"Very clear and well-structured advice with good responsiveness. Willingness to go the extra mile to support the client." 


Michala Roepstorff 

"She is highly skilled, extremely professional and pleasant to work with. All cases are solved with the same level of professionalism." 


Peter Fogh 

"Peter is an industry expert and a brilliant lawyer. He provided commercial, solutions-focused and timely advice to us in respect of a significant capital project. We were absolutely delighted with the advice he and his team provided to us. We would have been lost without their valuable input and support." 


Rasmus Mandøe Jensen 

"Excellent response time and proactivity. Hands-on with the documents and keeps to the deadline to give feedback." 


Thomas Holst Larsen 

"Thomas Holst Laursen provides thorough solutions. He has a pragmatic and solutions-oriented approach to the challenges presented. He understands the commercial angle and remembers the personal angle can be important, too." 

Poul Schmith

Founded in 1936, the Danish law firm Poul Schmith has offices in Copenhagen and Aarhus.


Focusses / specialisms

Recognised as the preferred legal adviser to the Danish government, the firm expanded its client base to encompass a range of private sector clients.

The firm’s banking team often assists banks and state bodies on loans for acquisitions and projects.

Its capital markets team has a strong foothold in the Danish debt market with a particular strength in the financial and energy sector.

In M&A, the firm has grown its presence in recent years with several lateral hires. It consistently advises on complex and cross-border transactions, in addition to its broad-based corporate advice to clients.

In the projects domain, the firm is especially strong in construction and infrastructure, representing all relevant actors in the sector.

The firm has a strong position in the Danish restructuring and insolvency space and consistently works on the market’s largest and most complex matters. Besides being frequently called upon to advise the Danish government, the firm has been increasingly active in representing large banking, education and insurance clients on bankruptcies.  


Key clients

Key clients include The Danish Tax Authorities, The Commissioners for HMRC, The Travel Guarantee Fund, Vækstfonden (The Danish Growth Fund), The Danish Green Investment Fund, Danske Bank, PenSam, Waterland, A.P. Møller Capital, Jyske Bank, Femern Bælt, and The Danish Energy Agency.

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

In banking and finance, the firm was active in advising borrowers and lenders in several notable acquisition, fund and project financing transactions. It also did noteworthy work in the regulatory space, as well as venture debt area, where it advised Vækstfonden on several mandates, including notably on the establishment of the COVID-19 guarantee scheme for large companies.

The firm’s debt capital markets team was visible during the research period. It provided advice to corporate and institutional clients on several notable bond issuances.

In the M&A sphere, the firm provided key legal support on matters of national significance, such as the recapitalization of SAS and the establishment and implementation of the Danish Recovery Fund. The firm also notably worked on several complex mandates in the technology sector, as well as mandates with cross-border elements.

In project development, the firm supported several projects in the infrastructure and energy domains, including several large offshore wind farm projects.

The insolvency practice also experienced high levels of activity. It advised on some of the most high-profile mandates in the market, including acting as court-appointed liquidator for Alpha insurance’s bankruptcy. The firm also worked on multiple bankruptcies arising from the COVID-19 pandemic.

Tine Walldén Jespersen and Rebecca Kramarz Cohen were director – level additions to the M&A team during the research cycle.


Deal highlights: 31st edition (2020/21)

Alpha Insurance bankruptcy

Qudos Insurance bankruptcy

SAS SEK14 billion bridge financing and recapitalisation

The Danish Ministry of Finance DKK1.3 billion aid scheme

The Danish Tax Authorities DKK12.7 billion recovery of unjustified refunds of withheld dividend tax

Vækstfonden COVID-19 guarantee scheme for large companies


Client feedback: 31st edition (2020/2021)  


Financial restructuring 

"Excellent work." 



"Brilliant big picture strategic thinking; clear and swift decision-making." 

"The law firm is a confidential partner in complicated insolvency cases. The lawyers have a very high standard of knowledge of the relevant insolvency laws and provisions, and they provide a good and indispensable sparring in our daily work." 


Investment funds 

"Responsive, English-speaking, highly sophisticated, expertise in investment space." 



"In detail, thorough, high-level and diligent legal work - coupled with great commercial understanding. Senior-heavy compared to peers. Always available and appears to drop anything else to assist. Good negotiation skills - knows which issues are important to get through and how to get them through." 

"They are really service-minded and knowledgeable. I always feel confident when they help me, and the service is speedy." 

"Very experienced, knows all the pitfalls, good in negotiation, and good for advice in the process. I was confident throughout the process." 

"Very responsive and always available in critical situations that can arise during an exit process. Super knowledgeable and very helpful. As clients we can focus on running our business and rest assured that our exit process is in good hands." 

"Extremely well prepared, and focused on getting the deal done." 

"We are very pleased with our experience. Eye to details - availability - direct access to partners and other competencies in-house. " 


Project development 

"The firm has a great overall creditability and representation in the market." 

"We have worked closely with Per Soon Larsen (lawyer) over the last years. He has a great insight into our business and strategies, understands our company values and has assisted us with many projects. He is considered to be a trusted adviser. " 


Project development : Energy 

"Pivotal for ensuring compliance with EU regulation as well as our ability to assist the government in policy decisions. " 


Project development : Infrastructure 

"The team from Kammeradvokaten has an unequalled competence when it comes to knowledge of procurement law and drafting of major infrastructure contracts. Their central role as legal advisers for many governmental infrastructure projects has given the team a deep insight into the commercial aspects of major infrastructure contracts. The team should be applauded for responding efficiently, rapidly and correctly to queries both inside and outside business hours. Kammeradvokaten has a goal of being a trusted adviser for its clients. It is clearly our opinion that they have been able to meet this objective/goal in relation to our project. The points mentioned above mean that Kammeradvokaten offers an excellent ratio in relation to value for money. " 


Restructuring and insolvency 

"Poul Schmith always provides high-quality advice. They have a good visibility in the market as well as generally a good ability to put themselves in the company's place. They are always solution-oriented and good at handling large complex projects. In addition, they have a lot of experience in the field of restructuring and insolvency." 


Boris Frederiksen 

"One of the best legal strategists I have come across in 25 years of practice. He is a calm presence at the centre of any storm, directing litigation in multiple jurisdictions. He has a remarkable ability to recall and assess key facts without ever getting lost in the details. And he retains his sense of humour throughout, which adds to the pleasure of working with him." 

"Highly sophisticated. Excellent judgement." 


Cathrine Wollenberg Zittan 

"Always on top of the facts and the law. Runs an excellent team. A real pleasure to work with." 

"Her knowledge of public law and insolvency law, and her ability to find new strategies to reach our goals are priceless. This, combined with the total confidentiality of our professional conversations, helps me and my organisation very much in our daily work." 


Henrik Puggaard 

"On the ball all the time." 


Kristian Hartlev 

"Extremely service-minded; quick and to-the-point advice. " 


Per Soon Larsen 

"Per has a great insight into the business models for specific projects. He is commercially skilled and can understand the projects from the client’s perspective Per is great at determining the risks associated with the different steps of our projects, which is valuable to our business. And he is great at reading people in negotiation situations." 

"Per reacts fast to our enquiries. He knows our business very well and has handled many of our most complex transactions and project developments. He acts as trusted adviser and the legal department liaises with him almost daily." 


Peter Hedegaard Madsen 

"He is extremely responsive and focused on giving us the most value for our money. Furthermore, he is extremely knowledgeable within his field. My business with the firm is not extensive, but, as far as I know, Peter has been a key driver in the major recapitalisations of the national aircraft carrier, as well as being part of the advisory team to the government in creating the coronavirus support funds." 


Ronnie Kandler 

"Deeply commits in the client relationship and always appears to put everything aside to assist. Strong negotiator. Commercially-oriented, efficient and pragmatic." 

"The most skilled and hardworking lawyer I have ever met." 

"In-depth knowledge of our industry and cross-border regulations. A great negotiator.  " 


Rune Derno 

"His knowledge of public law and insolvency law and his calm and trustworthy performance in the court room always provide us with the best achievable result. This, combined with the total confidentiality of our professional conversations, helps me and my organisation very much in our daily work." 


Simon Lagrelius 

"Simon is a good lawyer. Despite his young age, he has already handled some of the largest reconstructions in Denmark. He has gained great respect from the largest banks in Denmark as well as other advisers. He always provides high-quality legal advice. He is easy to get along with and has empathy for his surroundings. He is always solutions-oriented and finds solutions where others cannot. He has a lot of experience in the field of restructuring and insolvency." 

"Good with clients. Deep knowledge." 

Bird & Bird

Bird & Bird is an international law firm headquartered in London. The firm’s presence in Denmark traces to 2013 following a merger with technology law boutique BvHD.


Focuses / specialisms

The firm is highly active in Danish M&A midmarket, where it advises companies at both domestic and international level. The firm possesses strong private equity and venture capital expertise with sectoral strengths in high tech and innovative sectors.


Key clients

The firm’s notable clients list features the likes of AIG, Pentia, Synlab, Liberty Global Transactions Solution, Priveq and Capgemini.


Client feedback: 31st edition (2020/2021)

Capital markets

"They have good insight into this branch."



"Bird & Bird generally, but Morten Rosenmejer specifically, provides us with an excellent combination of practical and technically strong advice on M&A. We specifically benefit from them always being into the detail while keeping a pragmatic approach in their advice, making them excellent M&A and deal counsel. "

"Drafting of contracts (lease and SPA, etc), legal due diligence and establishment of newco."

"Enormously capable and have a profound ability to quickly understand the nature of our business, our industry and hence our needs."

"Extremely detail-oriented, fast turnaround and very professional, yet still very down to earth and always take the time to explain the process."

"Facilitated a transaction with a short timeline and cross-border elements."


Restructuring : Corporate

"Counselling, future risk, for and against, and a very well worked overview. "

Bruun & Hjejle

Bruun & Hjejle is a Danish law firm. The firm was formed in 1878 and operates from a Copenhagen office.


Focuses / specialisms

The firm has a broad coverage of the financial and corporate space.

It has a highly active banking practice which has significant knowledge in the institutional investor segment in Denmark, as well as expertise in asset and project finance mandates.

Maintaining a close collaboration with the firm’s M&A team, the capital markets practice is experienced in supporting debt and equity mandates. Its clientele features leading multinational financial institutions, private equity funds and corporate clients.

A key pillar of the firm’s work, the M&A practice advises on both public transactions and private- equity driven deals. It has a wide coverage of and strength in several sectors of the Danish economy and is often selected as an advisor on the most complex energy infrastructure investments and renewable energy mandates.

The firm is highly active and strong in both energy and infrastructure project support. It commands a high share of some of the impactful project work in Denmark.

Restructuring and insolvency is an area of increasing strength for the firm. The firm is often appointed as administrator of The Danish Debt Collection Agency.


Key clients

Key clients include Danske Bank, Nets, Moller Holding, Kirk Kapital, Treville, PFA, AIP management, Better Collective, NREP, Nordea Bank, Nykredit Bank, Jyske Bank, Deutsche Bank, PKA, Pensam, Axcel, Nordic Capital, Goldman Sachs, JP Morgan, Morgan Stanley, Citi, HSBC, Copenhagen Metro Team (CMT), Carlsberg Byen, Pension Danmark, Udviklingsselskabet By & Havn, AIP Management, COMSA-MUNCK, Molslinjen, PFA Pension, Webuild and COMSA-MUNCK.


Dahl is a large Danish law firm with offices located in Copenhagen, Aarhus, Esbjerg, Herning and Viborg.


Focuses / specialisms

In M&A the firm specialises in advising clients in respects to domestic and international acquisitions and sales. It also possesses specialised expertise in management buy-ins and buy-outs, as well as tasks related to such transactions.

The M&A team consistently represents buyers, sellers, private equity funds, venture capitalists and investors. It is one of the main players in the Danish mid-sector space, advising clients across a range of industries.


Key clients

Key clients include SP Group, JP Group, Samson Group, Airmaster, Sjørring Maskinfabrik and Rauff Group, Normal, Novicell, Etex Nordic and Visma Danmark Holding.


Client feedback: 31st edition (2020/2021)


"Efficient, due diligence a fair SPA and related documents."

"Head of the M&A team is experienced and knowledgeable. Timely, agile and hardworking."

"They are very professional, decent, objective and accurate."


Elmann is an independent Danish corporate law firm based in Copenhagen. The firm has operated since 2012.


Focuses / specialisms

In capital markets the firm specialises in IPO work predominantly on the issuer side.

Its M&A team has broad experience providing advice on all types of mergers and acquisitions to national and international clients within the private sector, high net worth individuals, as well as private equity and venture capital funds.

Insolvency is another key area of focus for the firm, with solid expertise possessed in appearing before the courts.


Key clients

Key clients include Penneo, Interflora Holding, Vitral Holding, MobilePeople, Cloudfarms, Nordic Prime, Filmgear, IO Interactive, KMD, Lina Medical, Aberdeen, Moesgaard Invest 2, Andersen Advisory Group, Configit, Wexer Holding, Harboe & Marker Partnership, Think! Digital Holding ApS, N. FOSS & CO,Duegaarden, Klostergaarden, Bangsbohus, Grøndalsvænge, Hostrup Have, Danish Growth Fund, Jyske Bank, Nykredit, Arbejdsernes Landsbank and Norvegus Fonden within the matters of insolvency.


Client feedback: 31st edition (2020/2021)


"They understand and manage IPO processes professionally from start to finish."



"Never make things complicated and very solution-oriented."


Restructuring and insolvency

"Very efficient and especially skilled in insolvency-related litigation."

Lund Elmer Sandager

Lund Elmer Sandager is a Danish law firm based in Copenhagen with origins extending back to 1877. 


Focuses / specialisms  

The firm has an active M&A practice that often advises on complex, cross-border deals. It handles transactions across several sectors and has an impressive longstanding corporate clients list, featuring several industrial companies involved in M&A transactions on a regular basis. 

Its track record in private equity-related M&A is strong, with the firm regularly securing mandates for both Danish and international private equity firms. 


Key clients  

Key clients include LagercranrtzReconor and Agailitas. 

NJORD Law Firm

NJORD Law Firm is an international law firm with a strong presence in and focus on the Nordic and Baltic regions. The firm’s key locations in Denmark are in Copenhagen, Aarhus and Silkeborg.


Focuses / specialisms

M&A is a key focus area for the firm. Industrial transactions, regardless of how they are structured, form a major component of the M&A team’s work, alongside, increasingly, private equity and venture capital investments on both the investor and company side. The team also advises no MBO and MBI mandates.


Key clients

Key clients include Philips, AP Pension, Bauhaus Danmark, Forenede Service, 3M, Boehringer Ingelheim Danmark, Vailant, Petworld, Comcare, HandiMobil, Enghouse Systems, CompuGroup Medical, Karl Storz Endoskopi, Lind Invest, Aarhus Airport, Sodexo, Reinh van Hauen, Oooono, Investcorp and One Peak.


Client feedback: 31st edition (2020/2021)


"An extremely good understanding of what areas to focus on in terms of developing and expanding the business on both a national and international level. "

"Good knowledge level. Easy to get in touch with. Reliable work in time and quality."

SIRIUS advokater

SIRIUS advokater is a specialised Danish law firm based in Copenhagen.


Focuses / specialisms

Established in 2006 the firm’s M&A team has expanded in size and coverage. Today, the firm handles a diverse spectrum of M&A, corporate and commercial work, often with cross-border elements.

Sectoral strengths include tech, IT, commercial real estate, production and trade, distribution, banking/finance and payment solution services.


Key clients

Key clients include Calldorado, COBE, Bikuben Fonden, Medpro Clinic Sweden, Nordic Waterproofing, On the Beach Group, Schades, EPAM Systems, WorldTicket, Metronome and NIL Technology.

Skau Reipurth & Partnere

Skau Reipurth & Partnere is a Danish law firm located in central Copenhagen. It was established in 2011.


Focuses / specialisms

The firm has a strong position in the Danish legal insolvency market with an impressive client list and frequent challenging cases. It is experienced in serving as trustee and court appointed trustee on insolvency matters, and routinely handles pre-insolvency restructuring and distressed M&A.


Key clients

Key clients include Danske Bank, Jyske Bank, Vækstfonden (Danish state’s investment fund), Handelsbanken, Sparekassen Vendsyssel, Nordea Bank, Sydbank, Nykredit and The Danish Debt Collection Agency.


Client feedback: 31st edition (2020/2021)

Bank lending : Lender side




"Commercial thinking. Highly esteemed individuals that have market-leading skills in the field of insolvency. "


Restructuring and insolvency

"The cases are handled smoothly and professionally. Skau Reipurth focuses on solutions rather than turning issues to be handled into a problem."

"Nice, skilled and solution-oriented."