Inin Group AS — M&A Activity 2024

Apr 5, 2024

Inin Group AS: Subsidiary secures largest ever contract

Inin Group AS: Subsidiary secures largest ever contract

5 April 2024 – Rail Production AS, a subsidiary of Inin Group-owned Nordic Infrastructure Group, has today been awarded a NOK 105 million contract to conduct track rebuilding and track ballast works on sections of the main railroad that runs northbound from Oslo to Eidsvoll.

The project involves track rebuilding and cleaning of the ballast masses on the railtrack that runs between Fjellhamar station and Sagdalen station, and between Dal station and Eidsvoll station. A clean ballast bed ensures that the railtrack remains stable, improves drainage, and thereby enhances safety and the lifetime of the track.

“This is the largest contract ever awarded to an Inin Group company. It marks a step-change for the size of projects Nordic Infrastructure Group is capable of taking on, which is fully in line with the purpose of the M&A strategy the company has pursued over the past 18 months,” says Øivind Horpestad, CEO of Inin Group.

Rail Production AS will collaborate with sister companies Team 1435 AS and recently acquired SLAM Jernbaneteknikk to deliver the project.

Rail Production AS will utilise ballast cleaning machines from its cooperation partner Salcef Group to conduct the work, which will be executed between June and October this year. Rail Production will deliver the work as a subcontractor to Infranord.

“Improving our ability to take on larger workscopes has been a key reason for why we have made multiple acquisitions during the past year. This contract confirms that this has been a wise strategic move. We look forward to supporting Infranord on this exciting project, which is a perfect fit for the Rail Production’s competence and the machinery our cooperation partner Salcef Group possesses,” says Gjermund Sogn, CEO of Nordic Infrastructure Group, which is the parent company of Rail Production AS.

Nordic Infrastructure Group delivers entrepreneurial services as well as tools and equipment to the railway and tramway industries; training, management and consulting services for the road, rail, construction, and civil engineering sectors; and accommodation services to the construction industry.

Euronext Growth-listed Inin Group is the majority owner of Nordic Infrastructure Group, which heads up Inin Group’s Rail Infrastructure 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