70% of Helgesen Tekniske Bygg AS sold to AF Gruppen ASA/Lab Entreprenør AS

2018-10-31 (Oslo, Norway)

Translink Corporate Finance is pleased to announce that AF Gruppen ASA through their subsidiary Lab Entreprenør AS has acquired 70% of the shares in Helgesen Tekniske Bygg AS “HTB”.

Synergos, as part of Translink Corporate Finance, acted as exclusive strategic and financial advisor to the shareholders of Helgesen Tekniske Bygg AS on the sale of 70% of the shares in the company to Lab Entreprenør AS.

HTB is a well-run company with an excellent track record since its foundation in 1987. The company’s business involves guiding building projects from concept to completion, and they work closely with customers throughout the project development phase. The main focus is on industrial and warehouse buildings, shopping centres and office buildings. HTB has around 50 employees and has recorded average revenues over the past three years of NOK 335 million with an operating margin of 6.5 per cent.

The enterprise value (100 per cent) for Helgesen Tekniske Bygg AS is valued at NOK 140 million. The settlement for 70 per cent of the shares will consist of 189,723 shares in AF Gruppen ASA at a share price of NOK 126.50 per share and cash. A part of the cash settlement will be granted as a sellers’ credit until 2020. Guarantees have been issued in respect of future performance.

“We are very happy to have Helgesen Tekniske Bygg on our team. The company has delivered good results over time and has a culture and core values that coincide with LAB’s and AF Gruppen’s. This acquisition is in accordance with our strategy to grow profitably in Western Norway, by continuing to build on LAB’s strong position in the region”, says Morten Grongstad, CEO of AF Gruppen.