Eqva ASA

M&A Activity • Mar 21, 2025

EQVA: Acquisition of IMTAS Group closed

EQVA: Acquisition of IMTAS Group closed

21 March 2025: Reference is made to the stock exchange notice by Eqva ASA (the "Company") published on 17 February 2025 regarding the business combination with IMTAS Group.

The transaction has now been closed. The consideration is settled with a combination of Eqva shares, a cash component and by the issuance of a seller’s credit.

NOK 68.8 million of The Consideration is settled by the issuance of 6,113,165 shares in EQVA (“The Consideration Shares”) to the sellers at a subscription price of NOK 11.25 per Consideration Share. 5,616,438 of The Consideration Shares is issued at completion of the acquisition of the shares of IMTAS AS. The remaining 496,727 Consideration Shares will be issued upon completion of the IMTAS Reorganization.

The Consideration Shares will be subject to a lock-up period, with 50 percent of The Consideration Shares being released after 9 and 18 months from the date of the completion of the acquisition of the shares of IMTAS AS, respectively.

NOK 52 million of the consideration was settled in cash. The cash component is financed by a combination of cash within the Group and acquisition financing from Nordea.

NOK 40 million of the consideration was settled by the issuance of a seller’s credit. The seller’s credit has a 12-month duration, with an interest of 8% p.a.

50 percent of the IMTAS Group’s net profit after tax for 2024 will be settled in cash at the time of completion of the IMTAS Group 2024 financial accounts (estimated end of Q2), while 50 percent will be settled by the issuance of a seller’s credit (on 12-month duration, and an interest of 8% p.a.).

About IMTAS Group

The IMTAS Group is a provider of industrial services focusing on process industry, aquaculture, maritime/offshore, renewable energy and construction, headquartered in Mo i Rana. The group offers services and expertise within engineering, fabrication/machining, installation and maintenance.

With over 200 employees, IMTAS Group primarily provides services in Northern Norway. The group has achieved strong financial development over the last 10 years, with an estimated CAGR on revenues of 19% from 2015 to 2024.

For more information, please contact:

Even Matre Ellingsen, Chief Executive Officer. Phone: + 47 990 05 500

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.