Interview: - We are in this for the long run

- We are in this for the long run.

Ole Kastrup Bridal, chief investment officer of Bagger-Sørensen Equity, the investment arm of the Bagger-Sørensen family office, views defence as a long-term investment opportunity.

As reported on Monday, one of Denmark’s best-known business families is establishing a platform called Alkeon to invest in and develop companies operating across the defence sector.

- The term ‘platform’ reflects our ambition to create synergies between different companies, explains Kastrup Bridal.

- We are an evergreen investor with the ability to build and integrate different companies into a single platform.

The new defence-focused company serves two primary purposes. 

The first is to act as a minority investor in defence companies producing everything from weapons systems to logistics services, providing capital to support growth and investment.

The second is to advise portfolio companies with activities or capabilities relevant to the defence industry, explains the CIO.

Kastrup Bridal says that while defence and security have received significantly greater attention across European industry in recent years, the decision to launch Alkeon has been years in the making.

- We are in a situation where private capital is needed to help defend Western values. At the same time, we have many companies with capabilities that are relevant to the defence sector.

As examples, he points to Daeda, an engineering company that designs and develops heavy-lift machinery for the wind energy industry, and Baso Group, a specialist in CNC machining.

- Both companies have the potential to expand capacity and invest in support of the defence industry, says Kastrup Bridal.

The Bagger-Sørensen family office traces its origins to more than 100 years of candy and chewing gum production in Vejle, Denmark.

Today, Bagger-Sørensen Equity invests in mature companies with growth potential through a strategy centred on active ownership, long-term development and industrial expertise. 

In 2026, its portfolio companies are expected to generate combined revenue of DKK 2.5 billion and employ approximately 1,250 people.

Kastrup Bridal says the family office remains open to international investments, but its primary focus remains Denmark.

- We want to help build production capacity in Denmark and establish a stronger national supply chain for defence-related components than exists today, he says.

As previously reported by Defence Nordic, many defence start-ups have highlighted a lack of risk capital as a barrier to growth. Kastrup Bridal acknowledges the challenge but argues that investment often depends on the maturity of the technology.

To support its investment activities, the family office has partnered with a defence industry specialist.

- I think many start-ups underestimate the requirements for products and systems to be integrated into armed forces and broader supplier ecosystems. A good idea alone is not enough.

For Bagger-Sørensen, scaling production of proven technologies alongside other investors is often a more attractive proposition. Doing so also requires substantial capital, he notes.

- We want to invest in additional capacity, and there is a clear need for more production in Denmark. This also significantly reduces the technology risk for us.

Bagger-Sørensen does not disclose the value of its defence investments. However, the family office aims to allocate approximately 40 percent of its capital to direct investments in companies.

- This is our benchmark.