Inin Group AS — M&A Activity 2023

Jun 22, 2023

Inin Group AS: Subsidiary signs agreement for acquisition of railway contractor

Inin Group AS: Subsidiary signs agreement for acquisition of railway contractor

22 June 2023 – Reference is made to the stock exchange dated 16 January 2023. Inin Group’s subsidiary Nordic Infrastructure Group has today signed the final share purchase agreement to acquire 100 percent of the shares in railway contractor Team 1435 AS.

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. “1435” refers to width of the track gauge that is used in most European countries.

Team 1435 employs 32 people with extensive experience from railway work in Norway and Sweden. It is a well-run company renowned for its predictable project execution. Team 1435 has delivered positive EBIT in 11 of the 12 years the company has been in operation.

TERMS OF THE TRANSACTION

Inin Group-owned 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 NOK 27.5 million consideration for acquiring all the shares in Team 1435 will be settled by 70 percent in cash and 30 percent in shares in Nordic Infrastructure Group. The cash consideration of the transaction will be settled in three tranches over 24 months following completion.

Nordic Infrastructure Group heads up Inin Group’s investment platform for Rail Infrastructure, which Team 1435 now becomes part of.

“Bringing Team 1453 into Nordic Infrastructure Group will allow us to compete for and win even larger contracts together – in line with how infrastructure owners increasingly want to collaborate with their suppliers. We know Team 1435 well and are confident that they are a good fit commercially, culturally and operationally,” says Gjermund Sogn, CEO of Nordic Infrastructure Group.

Closing of the transaction is expected during Q3 2023.

(ENDS)

For further information, please contact:

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

About Inin Group AS

Inin Group is an industrial owner that invests 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 portfolio companies to deliver sustainable growth and superior profitability. For more information, please visit: www.inin.no