Nordic Waterproofing’s acquisition of Veg Tech AB is completed
Nordic Waterproofing Group (STO: NWG.ST) has today completed the acquisition of one of the leading players within vegetation technology in the Nordics – Veg Tech – earlier communicated in a press release on April 19, 2018. Nordic Waterproofing has initially acquired 83 percent of the shares, and has submitted an offer to acquire the remaining shares for the same price per share as the main acquisition.
Veg Tech was founded in 1987 in Vislanda, Sweden, and has for 30 years helped their customers to create greener and more natural surroundings. The company offers green solutions that create vibrant and sustainable cities for roofs, courtyards & roof gardens, water and soil environments, green facades, etc., and is today a leading supplier to construction companies, property owners and the public sector. Customers throughout the Nordics are provided with a wide range of high-quality plant products such as green roofs and facades, green courtyards and purification of water.
“Through the acquisition of Veg Tech, Nordic Waterproofing demonstrates and enhances its commitment towards sustainable and environmentally efficient solutions for the building industry”, says Martin Ellis, President and CEO of Nordic Waterproofing. “We are pleased to welcome our new colleagues to the Nordic Waterproofing Group”, Martin Ellis continues.
Nordic Waterproofing Holding A/S’s Swedish subsidiary, Nordic Waterproofing Group AB, has acquired 83 percent of the shares in Veg Tech AB. Furthermore, Nordic Waterproofing has submitted a bid to the minority shareholders to acquire the remaining shares for the same price per share, which is expected to be finalized during the second half of 2018. The acquisition is expected to have a positive effect on Nordic Waterproofing's earnings per share in 2018.
This information was submitted for publication, through the contact person set out below, on 5 July 2018, at 3.15 p.m. CEST.
For further information, please contact:
Jonas Olin, CFO and investor relations
Telephone: +46 708 29 14 54
Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland and through part-owned franchise companies in Denmark. The Company markets its products and solutions under more than ten brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Nortett, SealEco, SPT-Painting, Taasinge Elementer, RVT and Veg Tech. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.