Bellman Group completes acquisition of Norrvidinge
Bellman Group AB (“Bellman Group”) has today completed the acquisition of Norrvidinge (“Norrvidinge”) consisting of Norrvidinge Lastbilscentral AB, Grus & Makadam Syd AB and EliaExpress i Halmstad AB, which was announced on 21 April, 2021.
On 21 April, 2021 Bellman Group entered into an agreement to acquire Norrvidinge, a company providing haulage and machine services, as well as civil engineering materials, across southern Sweden. Norrvidinge has 169 employees and employs 195 subcontractors involving more than 350 transport and machine units with drivers.
The purchase consideration is SEK 283 m, paid in cash and a directed new issue of shares has been carried out. The sellers of Norrvidinge are thereby re-investing a portion of the purchase consideration in Bellman Group and becoming its second-largest shareholder after Verdane. Norrvidinge will continue to operate as a subsidiary in the group and form an own operating segment alongside all other subsidiaries. Johan Beermann, CEO of Norrvidinge, will be part of Bellman Group's Group Management.
Andulf Advokat AB has acted as legal advisor and Deloitte has acted as financial advisor in connection with the acquisition.
For further information about the acquisition, please refer to Bellman Group’s previous press release dated 21 April, 2021.
For further information please contact:
Håkan Lind, CEO +46 (0) 70 669 8028
hakan.lind@bellmangroup.se
Roger Axelsson, CFO +46 (0) 70 874 5041
roger.axelsson@bellmangroup.se
This information is information that Bellman Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information is submitted for publication, through the contact person set out above, at 11.00 CET on 27 May, 2021.
About Bellman Group
Bellman Group is a civil engineering group that operates in rock blasting, excavation, haulage, and mass handling in Sweden, primarily in the Stockholm and Gothenburg regions. The Group consists of Bellmans, which is a company active in machinery brokerage and haulage, Uppländska, which performs rockblasting operations, VSM, which carries out excavation work with large machinery, Samgräv, which is active in haulage, machine brokerage, mass handling and operation of own landfills, SÅCAB which is active in haulage and also owns a landfill south of Stockholm and Ivarssons Entreprenad, an excavation and civil engineering company mainly operating in the Gothenburg region.
In 2020, net sales for the Group were SEK 1.7 billion. Bellman Group, with registered offices in Solna, Sweden, has approximately 424 employees and approximately 1,000 subcontractors. The parent company’s corporate bonds are listed on Nasdaq Stockholm. Bellman Group is a group of strong growth with an explicit acquisition strategy.