Inin Group AS — M&A Activity 2025

Apr 1, 2025

ININ Group AS: Subsidiary boosts presence in Norwegian TIC market

ININ Group AS: Subsidiary boosts presence in Norwegian TIC market

01 April 2025 – Nordic Inspekt Group AB, a subsidiary of ININ Group AS, has today signed the share purchase agreement to acquire 100 percent of the shares in Norway-based testing, inspection and certification (TIC) group Testpartner Gruppen.

Reference is made to the stock exchange announcement dated 23 January 2025 regarding the transaction.

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.

Today, Inspekt Norway AS has a presence in the Southern part of Norway, while Testpartner Gruppen has its stronghold in North Norway.

“We established ourselves in Norway two years ago and have a rapidly growing presence in the Norwegian market. The addition of Testpartner Gruppen will significantly enhance our Norwegian footprint, enabling us to take on more work and more easily support customers that have operations in multiple locations across Norway,” says Niklas Persson, CEO of Nordic Inspekt Group AB.

ABOUT TESTPARTNER GRUPPEN

Testpartner Gruppen is a leading provider of advanced testing and inspection services. 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.

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. The group has offices in Mosjøen, Mo i Rana and Sandnessjøen in North Norway.

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

TRANSACTION DETAILS

Testpartner Gruppen is valued at NOK 41.2 million in the transaction. The transaction will be settled through approximately NOK 15.4 million in Nordic Inspect Group AB shares at closing and approximately NOK 25.8 in cash, divided in two tranches – one at closing and one following approval of Testpartner Gruppen’s annual accounts for 2024.

Completion of the transaction is expected during the second quarter of 2025.

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