Orkila Capital to purchase 40% of Down the Drain.

Down the Drain Holding, an Aarhus, Denmark-based live music festivals organizer, announced that it entered into an investment agreement for getting Orkila Capital as a new shareholder in the company.

The deal, which has the financial details undisclosed, was made for a 40% equity stake. Following the transaction, existing owner from Germany FKP Scorpio, exits the company.

Down the Drain Holding, led by CEO Brian Nielsen, is the organizer of music festivals such as Tinderbox, Northside and Haven.