Veidekke

M&A Activity • Jan 31, 2023

Veidekke: Wants to acquire contractor in Østfold

Veidekke: Wants to acquire contractor in Østfold

Veidekke has signed a letter of intent to purchase all of the shares in

contractor Haugerud Vikeby AS in Mysen. "We want to take a larger share of the

local and regional building market south of Oslo," says district manager Ketil

Gunde Andersen of Veidekke.

"Veidekke currently has a very competent building department in Øst AS with

headquarters in Halden and a branch in Spydeberg. We have been looking at the

right opportunity to strengthen our position and are therefore pleased that we

have joined forces with a solid contractor with its own skilled workers and a

similar corporate culture as ours," says Veidekke's district manager Ketil Gunde

Andersen.

The building and construction market in Østfold and Akershus south is

attractive, not least due to the new railway and E18 motorway that reduces

travel time to Oslo significantly. With the building businesses Øst AS in Halden

and Haugerud Vikeby in Mysen, Veidekke will have a good starting point for

greater implementation capacity, competence and competitiveness in the region.

"We want to become a part of a larger contractor in order to evolve further, and

we have had Veidekke at the top of our list. Now we can take with us both our

values and corporate culture into a group with large muscles, and I'm looking

forward to becoming part of the team in Veidekke along with our craftsmen and

officials," says general manager Jørn Haugerud of Haugerud Vikeby.

Haugerud Vikeby AS is a building contractor in Mysen with long traditions. They

carry out large and medium-sized projects such as commercial buildings and

housing for both public and private clients, primarily in central Østfold.

Carpentry, masonry and concrete works are carried out with own employees,

additionally with ty\he use of local subcontractors. The company has 36

employees, and revenues totalled just over NOK 200 million in 2022 with a profit

margin in recent years of around 4%.

Now due diligence will be carried out and that the transaction has to be

approved by the competition authorities. The goal is that the final purchase

agreement can be signed in April 2023.

For further information, please contact:

District manager Ketil Gunde Andersen, tel. +47 90 79 15 60,

Ketil.Gunde.Andersen@veidekke.no

CFO Jørgen Wiese Porsmyr, tel. +47?907 59 058, jorgen.wiese-porsmyr@veidekke.no

Communications Manager Helge Dieset, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

General manager Jørn Haugerud of Haugerud Vikeby, tel.+47 95 83 80 09,

jorn@haugeud-vikeby.no

Veidekke's press photos (https://veidekke.fotoware.cloud/fotoweb/archives/5028

-Pressebilder-Veidekke/)

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Veidekke is one of Scandinavia's largest construction companies. The company

undertakes all types of construction and civil engineering contracts, maintains

roads, and produces asphalt and aggregates. Veidekke emphasises stakeholder

involvement and local experience. Its annual turnover is approximately NOK 38

billion, and half of its 7,800 employees own shares in the company. Veidekke is

listed on the Oslo Stock Exchange and has posted a profit every year since its

inception in 1936.