Multiconsult

M&A Activity • Jun 5, 2023

Multiconsult to acquire the leading architectural firm A-lab

Multiconsult to acquire the leading architectural firm A-lab

Multiconsult ASA (OSE: MULTI) has entered into an agreement to purchase 70 per

cent ownership in the architectural firm A-Lab AS. A-lab is a reputable

architectural firm specialised in urbanism, design of business premises and

residential buildings. With a range of multidisciplinary consulting services and

skilled engineering business combined with two strong architecture companies,

LINK Arkitektur and A-lab, Multiconsult will take a leading position in

integrated consultancy and architecture services providing end-to-end services

for our clients. The settlement will be a combination of cash and Multiconsult

shares.

A-lab is an internationally oriented architectural firm with 140 architects and

experts mainly located in Oslo. The revenue of A-lab during 2022 was NOK 179.7

million and NOK 19.6 million in EBIT.

"A-lab is an exciting and reputable architecture firm we have followed over

time. I am pleased that A-lab has chosen to become part of the Multiconsult

group. A-lab's competent employees combined with our existing competence

environments, will contribute to Multiconsult taking new strategic winning

positions. Multiconsult and A-lab have a long history of successful

collaboration projects over the years, and now we will deepen the cooperation

even further. Together with our new colleagues, we will create even more value

by delivering the most sustainable solutions and strengthen our client

offering", says Grethe Bergly, CEO of Multiconsult ASA.

Through future collaboration A-lab, LINK Arkitektur and Multiconsult will

confirm their leading positions and continue the strategic ambition to enhance

the position within existing markets. A-lab specialises in urban planning,

residential projects as well as complex renovation and conversion projects

delivering innovate solutions to commercial buildings across Norway and abroad.

With A-lab, Multiconsult will expand its value proposition by extending coverage

across the entire value chain and offering comprehensive, end-to-end integrated

engineering and architecture services to meet the diverse needs of our clients.

"We will take good care of all our relationships and projects, and with this, we

will be able to provide completely new value. The sustainability challenges and

the technological shift are over us and are causing changes in architectural

profession. We are running out of time. In order to continue to hold an active

role in development of the society, we must constantly renew ourselves and work

even closer across disciplines within the specialised areas of engineering,

sustainability, and technology. Through our collaboration with Multiconsult, we

also gain access to an environment that has proven to be among the best in the

country at attracting and developing talents", says Geir Haaversen, CEO of A

-lab.

The Multiconsult group already includes LINK Arkitektur, a leading Scandinavian

architectural business with approximately 490 employees located in 15 cities in

Norway, Sweden and Denmark. A-lab and LINK Arkitektur will continue as

individual subsidiaries and will continue to operate as independent entities

with its own identity. Both A-lab and LINK Arkitektur holds powerful but

different and complementary capabilities to Multiconsult, and lead the

development of architecture in Norway and how architecture is used to create

sustainable cities and communities for the benefit of the society.

Multiconsult will acquire 70 per cent of the shares in A-lab AS, with an option

to acquire the rest of the shares. The transaction is based on an enterprise

value (EV) of NOK 145.0 million on a cash and debt-free basis. The consideration

will be paid in a combination of cash and Multiconsult ASA shares, in cash using

available cash and credit lines under Multiconsult's existing loan portfolio.

The purchase of the shares will be settled in a combination of cash (80%) and

Multiconsult shares (20%).

"We are pleased that the owners have accepted shares as part of the settlement.

It shows strong support and commitment to ensure the success of this business

combination", says Bergly.

The transaction is subject to approval from the Norwegian Competition

Authorities.

For further information, please contact:

Investor relations:

Ove B Haupberg, CFO

Phone: +47 401 00 900

E-mail: oveb.haupberg@multiconsult.no

Media:

Gaute Christensen, VP Communications

Phone: +47 911 70 188

E-mail: gaute.christensen@multiconsult.no