AF Gruppen strengthens focus on Bergen
LAB AS, a subsidiary of AF Gruppen (AFG), has signed a letter of intent with Helgesen Tekniske Bygg AS (HTB) to acquire 70 per cent of the shares in the company.
HTB is a well-run company with an excellent track record since being established as a company in 1987. The company’s business involves guiding building projects from concept to completion, and they work closely with customers throughout the project development phase. The main focus is on industrial and warehouse buildings, shopping centres and office buildings.
HTB has recorded average revenues over the past three years of NOK 335 million, and has an operating margin of 6.5%. The company has 46 employees and its head office is located in Valestrandsfossen, just outside of Bergen. Through the acquisition of HTB, LAB and AF will complement their product line in Western Norway. Structural growth in Western Norway through continuing to build on LAB’s strong position is in accordance with both LAB and AF’s strategy.
The agreed enterprise value for 100 per cent of HTB AS on a cash and debt-free basis is NOK 140 million. Settlement is expected to consist of shares in AF Gruppen ASA and cash.
The company will become a subsidiary of LAB AS, in which AF Gruppen has been the main shareholder since Q1 of 2015.
The transaction is subject to due diligence and approval by the Board of Directors. Completion on the transaction is expected to take place during Q4 of 2018.
Morten GrongstadCEO+47 991 53 email@example.com
Henning OlsenEVP Building Norway+47 917 41 firstname.lastname@example.org
Sverre HæremCFO+952 45 email@example.com
Om AF Gruppen ASA
AF Gruppen is a leading contracting and industrial group. The purpose of our business is to create value for our customers, owners, employees and society at large. We are proud of our good financial results, but every bit as important are the non-financial values that we create every day. A safe working environment for our employees and sub-contractor personnel, new services that help solve society’s environmental challenges and ethical business operations that create security for our customers. This in turn provides us with the opportunity to create additional value for our owners.
Følg saker fra AF Gruppen ASA
Registrer deg med din epostadresse under for å få de nyeste sakene fra AF Gruppen ASA på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra AF Gruppen ASA
Solid results from the AF Gruppen9.11.2018 07:28 | Pressemelding
AF Gruppen continues its growth and delivered a solid result in Q3.
Invitation to presentation of the Q3 2018 results5.11.2018 08:49 | Presseinvitasjon
AF Gruppen (AFG) will release its 3rd quarter results 2018 Friday November 9 at 07:00 am CET.
AF closes Helgesen Tekniske Bygg AS acquisition30.10.2018 14:47 | Pressemelding
Reference is made to the stock exchange announcement dated 27 August 2018, where AF Gruppen announced a signed a letter of intent regarding Helgesen Tekniske Bygg AS.
AF Gruppen signs letter of intent to acquire Swedish construction company15.10.2018 09:08 | Pressemelding
Today AF Gruppen signed a letter of intent to acquire 70% of the shares of HMB Holding AB.
New offshore decommissioning project for AF Gruppen12.10.2018 08:13 | Pressemelding
AF Gruppen ASA (AFG) have received an extension notice for a current frame agreement to include future removal and disposal of up to four additional platforms for a client in the UK North Sea.
AF Gruppen has entered into new, major contract with Nye Veier5.10.2018 11:23 | Pressemelding
AF Gruppen has signed a contract with Nye Veier for engineering and construction of the new E39 Kristiansand west - Mandal east motorway.
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom