Nekkar — M&A Activity 2015

Jun 22, 2015

TTS Group ASA : Syncrolift(TM) deal strengthens TTS's position in the shiplift market

TTS Group ASA : Syncrolift(TM) deal strengthens TTS's position in the shiplift market

Through its subsidiary TTS Handling Systems AS, a company in the business unit

Shipyard Solutions, TTS Group ASA has signed an agreement with Rolls-Royce

Marine North America Inc. for purchase of Syncrolift assets. The asset deal

gives TTS Handling Systems AS an exclusive and unlimited right to conduct future

business based on Syncrolift products and relevant intellectual properties and

includes takeover of drawings of 250 shiplifts, patents and brand (Syncrolift

(TM)).

TTS successfully launched a strategic market initiative towards the shiplift

market a few years ago, and has won the last seven contracts for shiplift

newbuilds in the international market. Through the purchase of Syncrolift(TM)

assets, TTS will be even better placed to offer a wide range of products and

system solutions to meet any customer's demands, simplifying processes and

increasing efficiency for shipyards, repair yards, naval bases and other marine

clients around the world.

After more than half a century in the shiplift market, Syncrolift(TM) represents

an installed global base of around 250 shiplifts, providing substantial

opportunities for TTS to increase revenue from services, after-sales and

upgrades.

The parties have agreed on a price in the range from MUSD 1 to MUSD 3 based on

actual Syncrolift(TM) services turnover from closing to end of 2017. Partial

payments are due in March 2016, 2017 and 2018. The transaction is subject to

customary closing conditions and closing is expected within 45 days. The

agreement includes a non-compete clause under which Rolls-Royce Group plc agrees

not to enter into or establish similar business in competition with TTS'

shiplift operations for a given period.

Following closing of the deal, TTS Handling Systems AS will change its name to

TTS Syncrolift AS.

Bergen, 22 June 2015

TTS Group ASA

Tel.: +47 55 94 74 00 / Fax: +47 55 94 74 01

http://www.ttsgroup.com

For further information, please contact

Rolf-Atle Tomassen,

Managing Director,

TTS Handling Systems AS,

phone (+ 47) 918 62 251

Bjorn Andersson,

CEO & President,

TTS Group ASA,

Phone (+47) 911 33 671

Henrik Solberg-Johansen,

CFO TTS Group ASA,

phone (+47) 982 06 438

Miao Reinlund,

Vice President Corporate

TTS Group ASA,

phone (+ 47) 900 65 883

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1930128]