Inin Group AS — M&A Activity 2024

May 29, 2024

Inin Group AS: Subsidiary to acquire railway contractor in Northern Norway

Inin Group AS: Subsidiary to acquire railway contractor in Northern Norway

29 May 2024 – Inin Group’s subsidiary Nordic Infrastructure Group AS has agreed to the principal terms of an agreement to acquire 100 percent of the shares in Northern Norway based Nordnes Narvik AS – a specialist railway contractor in the region.

ABOUT NORDNES NARVIK AS

Nordnes Narvik AS has established itself as a key player in the railway construction industry in Northern Norway, with a strong focus on delivering high-quality infrastructure solutions. In the fiscal year 2023, the company reported a revenue of approximately 30 million NOK and an EBIT of 5.6 million NOK.

“The expertise of Nordnes Narvik AS in railway construction complements our existing capabilities and positions us to capitalize on the growing demand for infrastructure development in the region.” says Gjermund Sogn, CEO of Nordic Infrastructure Group.

THE POTENTIAL TRANSACTION

Nordnes is valued at 17.8 million NOK in the potential transaction, which is subject to customary closing conditions, satisfactory due diligence, and final transaction documentation. Signing of the final share purchase agreement and closing of transaction is expected during the 2nd quarter of 2024. Further details of the financial terms of the transaction will be shared following signing of a final share purchase agreement between the parties.

Upon completion of the potential transaction, Nordnes Narvik AS will become part of Nordic Infrastructure Group, which heads up Inin Group’s Rail Infrastructure investment platform.

(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