Inin Group AS — M&A Activity 2023

Dec 18, 2023

Inin Group AS: Acquisition of Team 1435 AS completed

Inin Group AS: Acquisition of Team 1435 AS completed

18 December 2023 – Inin Group AS’ subsidiary Nordic Infrastructure Group AS has successfully completed the acquisition of 100 percent of the shares in railway contractor Team 1435 AS.

Reference is made to the stock exchange announcements dated 16 January 2023 and 22 June 2023 regarding the transaction.

Team 1435 is a contractor that specializes in railways superstructures and substructures as well as rail security. The company supplies contractor services, project and construction management, logistics and security services as well as professional services to the industry. The company becomes part of Inin Group’s Rail Infrastructure investment platform, which is headed up by Nordic Infrastructure Group.

“Team 1435 is a well-run, profitable company that is a good fit – industrially and commercially – for Nordic Infrastructure Group. They have a strong reputation in the Norwegian market, and we look forward to bidding together on even larger maintenance and upgrade projects going forward,” says Gjermund Sogn, CEO of Nordic Infrastructure Group.

TRANSACTION TERMS

Inin Group’s subsidiary Nordic Infrastructure Group AS acquires 100 percent of the shares in Team 1435 AS, which is valued at an enterprise value of NOK 27.5 million in the transaction. The total consideration will be settled by 30 percent in shares in Nordic Infrastructure Group and 70 percent in cash. Approximately 40% of the cash consideration has been settled at closing, while the two remaining tranches will be settled in 2024 and 2025, respectively.

(ENDS)

For further information, please contact:

Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS

Inin Group is a listed investment company operating as an industrial owner with investments in companies within infrastructure and industry services niches in the Nordics. The group create value by identifying investment opportunities within profitable niches with potential for development, consolidation, and growth, working in collaboration with the platform companies to deliver sustainable growth and superior profitability. For more information, please visit: www.inin.no