Nordisk Bergteknik completes its largest acquisition to date - expands in the Stockholm region through acquisitions of Rovalin and Soil Mixing Group

Nordisk Bergteknik has today entered into an agreement regarding the acquisition of all shares in Infrastructure Group Nordic AB (“IGN”), a subsidiary of Connecting Capital, with the operating subsidiaries Rovalin and Soil Mixing Group. IGN, which has a turnover of approximately SEK 420 million with good profitability, offers services primarily in foundation and soil reinforcement. Through the acquisition, Nordisk Bergteknik expands in the Stockholm region, one of the Nordic region's largest local markets in foundations, at the same time as the Group's offering is complemented and strengthened.

Rovalin was founded in 2014 and today has 45 employees. The company offers services within foundation and has a leading market position as a supplier of a comprehensive offer in deep foundation. The business is based in Nykvarn and operates mainly in the Stockholm area but will in the future also strengthen Nordisk Bergteknik's geographical presence in the northern parts of Sweden. Soil Mixing Group offers services in soil and soil reinforcement for properties and construction projects around Sweden and in Norway and currently has 22 employees.

“We are very pleased to welcome Rovalin and Soil Mixing Group to Nordisk Bergteknik. We have previously worked with each other in various projects, and we know that the companies have employees with high competence. It is also our largest acquisition to date and takes place in our most profitable segment, which means that the Group's margin will be strengthened. Furthermore, they complement our existing companies in the Foundation Sweden segment and further broadens our offering. At the same time, we are increasing our presence along Norrland's industrial coast and in parts of Norway, areas that have major infrastructure investments in the coming years,” says Andreas Christoffersson, CEO of Nordisk Bergteknik.

“We have worked with several of Nordisk Bergteknik's companies before and know that we complement each other well. It feels very stimulating to take the step into the group and contribute to the continued journey. As a part of Nordisk Bergteknik, we have good opportunities to take the next step in our development as well, ”says Johan Saarela, CEO of Rovalin.

"The step into Nordisk Bergteknik feels exciting for us and we look forward to being part of a larger context where we can develop our business and our employees," says Stefan Dahlin, CEO of Soil Mixing Group.

"Connecting Capital is pleased to contribute to further strengthen Nordisk Bergteknik's offering through this deal," says Tomas Ståhl, CEO of Connecting Capital.

The purchase price amounts to SEK 178 million and is paid through SEK 49 million in cash at completion of the transaction, SEK 54 million through reinvestment in shares in Nordisk Bergteknik, and SEK 75 million in a seller promissory note. The shares will be issued in accordance with the mandate authorized by the Annual General Meeting in 2021 and are subject to a lock-up commitment expiring in the spring of 2023.

The acquisition is subject to approval by the Swedish Competition Authority and completion of the transaction will take place in connection with obtaining approval. The acquisition will be reported in the Foundation Sweden segment and is assessed, based on the expected number of outstanding shares after the acquisition, to annually contribute approximately SEK 0.80 to earnings per share.

This is information that Nordisk Bergteknik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted, through the care of the contact persons below, for publication on 17 March 2022 at 08:45 CET.

For further information, contact:
Andreas Christoffersson, CEO, +46 70-621 19 28, andreas.christoffersson@bergteknik.se
Johan Lundqvist, CFO, +46 76-392 71 21, johan.lundqvist@bergteknik.se

About Nordisk Bergteknik

Nordisk Bergteknik has a clear growth strategy with the objective to contribute to the development of a future sustainable society. Our companies are specialists within rock handling and foundation solutions, and through compassion and skill they are able to combine demand with the surrounding natural conditions. To be involved at an early stage in building modern societal functions is our everyday life, our home ground and our future.

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