Inin Group AS — M&A Activity 2023

Aug 2, 2023

Inin Group AS: Subsidiaries awarded railway maintenance work

Inin Group AS: Subsidiaries awarded railway maintenance work

2 August 2023 – Nordic Infrastructure Group’s soon-to-be subsidiary Team 1435 AS have been awarded railway maintenance work associated with track renewals at Marienborg station in Trondheim, Norway.

Team 1435’s scope of work includes signalling system maintenance in connection with replacement of railway sleepers, rail tracks and support masses; groundworks and control of three kilometres of contact line; welding work at 6 kilometres of track; and three kilometres of track adjustment.

The project involves track renewal of tracks number 7, 8 and 9 at Marienborg station. The work on track 8 and 9 will be conducted during 2023, and track 7 in 2024.

Team 1435 will deliver the work as subcontractor to Gjermundshaug Anlegg, whose end-client is Bane Nor. Team 1435 will be supported by fellow Nordic Infrastructure Group subsidiary Rail Production AS to execute the project.

Estimated contract value is approximately NOK 10 million.

“This contract sums up why we are acquiring Team 1435 AS. Combining the competence of Team 1435, Rail Production and other companies in our group allows us to take on more work and optimise our total capacity utilisation,” says Gjermund Sogn, CEO of Nordic Infrastructure Group.

On 22 June 2023, Nordic Infrastructure Group signed the final share purchase agreement to acquire 100 percent of the shares in railway contractor Team 1435 AS. Closing of the transaction is expected in the third quarter 2023.

Nordic Infrastructure Group heads up Inin Group’s Rail Infrastructure investment platform. Inin Group is listed on Euronext Growth Oslo.

(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 that investment into companies within infrastructure and industry services niches in the Nordics. The group aims to 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