Inin Group AS — M&A Activity 2025

Jan 23, 2025

ININ Group AS: Subsidiary to strengthen presence in Norwegian Testing, Inspection & Certification (TIC) market

ININ Group AS: Subsidiary to strengthen presence in Norwegian Testing, Inspection & Certification (TIC) market

23 January 2025 – Nordic Inspekt Group AB, a subsidiary of ININ Group AS, has agreed to the principal terms of an agreement to acquire 100 percent of the shares in Norway-based testing, inspection and certification (TIC) group Testpartner Gruppen.

Testpartner Gruppen consists of the companies Testpartner Molab AS, Testpartner Mo i Rana AS and Testpartner AS including the latter’s subsidiary Industrial AM AS.

This acquisition is another step in Nordic Inspekt Group’s expansion plan and ambition to become one of the leading TIC players in the Nordics. Testpartner Gruppen will continue to operate as a separate company, but will collaborate closely with Inspekt Norway AS – the current Norwegian arm of Nordic Inspekt Group.

”The acquisition of Testpartner Gruppen is an important part of our Nordic growth plan, and they provide us with a valuable and geographically complementary foothold in North Norway. Testpartner Gruppen has an impressive track record and a strong reputation within our industry. They are renowned for supplying high-quality services and a very competent team. I look forward to welcoming them into Nordic Inspekt Group," says Niklas Persson, CEO of Nordic Inspekt Group AB.

ABOUT TESTPARTNER GRUPPEN

Testpartner Gruppen is a leading provider of advanced testing and inspection services in North Norway. The group has offices in Mosjøen, Mo i Rana and Sandnessjøen. It delivers services within non-destructive testing (NDT) and inspection, material testing, welding testing, certification of welders, hull inspections, inspection and certification of cranes and lifting equipment, lifeboat davits and lifeboat controls.

In 2024, Testpartner Gruppen delivered un-audited consolidated revenue of approximately NOK 50 million and an EBIT of NOK 6.5 million. The group has ~40 employees, of which almost all are specialist testing and inspection personnel.

“We are really pleased about becoming part of Nordic Inspekt Group and the synergy, growth and development opportunities this offers to our organization. We have monitored Inspekt Norway’s impressive development since they were established in 2023, and we can identify with their approach, values and ambitions. We look forward to combining our competence and innovative powers with Nordic Inspekt Group and further strengthening our joint position in both the Norwegian and Nordic markets,” says Robert Myrvang, managing director of Testpartner Gruppen.

TRANSACTION DETAILS

The transaction is subject to customary closing conditions, board approvals, satisfactory due diligence, and final transaction documentation. Signing of the final share purchase agreement and closing of transaction is expected by the end of the first quarter 2025. Details of the financial terms of the transaction will be shared following the signing of a final share purchase agreement between the parties.

ININ Group AS is listed on Euronext Growth Oslo. The company’s majority shareholder, Qben Infra AB, is listed on Nasdaq First North Premier Growth Market in Stockholm, Sweden.

(ENDS)

For further information, please contact:

Øivind Horpestad, CEO of Inin Group AS, 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

About Nordic Inspekt Group AB

Nordic Inspekt Group AB is a fast-growing leading player within testing, inspection and certification (TIC) services in the Nordic region. The company strives to deliver high-quality and reliable services that help customers ensure quality and compliance with standards. For more information, please visit: www.inspekt.se / www.inspekt.no