NKT — M&A Activity 2015

Dec 16, 2015

Nasdaq Copenhagen
Nikolaj Plads 6
DK - 1007 Copenhagen K

16 December 2015
Announcement No. 22

Nilfisk acquires Pressure-Pro to strengthen market position in the Americas
within high-pressure washers

Nilfisk has signed for the acquisition of Pressure-Pro. Inc., a leading
manufacturer of high-pressure washers headquartered in Florida, USA, effective
1 January, 2016. The transaction price amounts to USD 31m, equivalent to
approx. DKK 211m.

Pressure-Pro manufactures both cold and hot water high-pressure washers and has
a nationwide distributor and dealer network. In 2014, Pressure-Pro realised
revenue of USD 40m (approx. DKK 272m) and has approx. 90 employees. The current
owners of Pressure-Pro will remain in place to ensure continued growth and
capture of the synergies with Hydro Tek, which was acquired on 1 November 2015,
cf. NKT’s Interim Report Q3 2015.

The two acquisitions will strengthen Nilfisk’s market position, combining
Pressure-Pro’s cold water solutions and Eastern US strongholds with Hydro Tek’s
hot water solutions and Western US bastions. Furthermore, both existing and new
customers of the two businesses will benefit from improved product offerings
and service concepts.

NKT’s Group Executive Director Michael Hedegaard Lyng comments on the
acquisition:

• NKT has the financial strength to drive and support the growth ambitions of
  all its businesses. Nilfisk’s declared agenda to continue gaining leading
  market positions and pursue growth opportunities through acquisitions is
  therefore fully in line with our aim of constantly increasing value creation.

Nilfisk President and CEO Jonas Persson, comments on the strategic potential:

• Our Accelerate strategy contains several levers to ensure growth, one being
  to continuously look for opportunities to acquire leading manufacturers with
  solid market access. Uniting the Pressure-Pro and Hydro Tek acquisitions with
  Nilfisk’s product range and market reach will establish a strong position for
  Nilfisk in the high-pressure washer market, both in the US and throughout the
  Americas.

The acquisition will not impact NKT’s 2015 outlook and is expected to
contribute positively as from 2016.

Contacts
Michael Hedegaard Lyng Lasse Snejbjerg
Group Executive Director Head of Investor Relations
Tel: +45 4348 2000 Tel: +45 2913 6607