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Eleda acquires another leading company in Norway

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The infrastructure group Eleda acquires Sartor & Drange AS, a market-leading civil engineering contractor in the Bergen region. Sartor & Drange offers services in areas such as road, water and sewerage and foundation work in western Norway. Sartor & Drange has approximately 200 employees and a turnover of approximately NOK 1,100 million.

The acquisition of Sartor & Drange means that Eleda now has three platform companies in Norway; the first two, Gjermundshaug and Anlegg Øst, were acquired in 2023. Sartor & Drange was formed through a merger between Sartor Maskin and Drange Maskin in 2021 but has a history dating back to the 80s.

"Sartor & Drange is a strategically important acquisition for Eleda. We now have three platform companies in the Norwegian market, which is proof that we can and want to continue to expand in Norway with the aim of consolidating our position as a leading player in civil engineering in the Nordic region. I am particularly pleased that Sartor & Drange complements our existing companies and fits our culture well. It is a typical Eleda company with driven entrepreneurs, high profitability, good growth, and a committed organization with deep local roots. I look forward to seeing what we can achieve together in the Norwegian and Swedish markets to continue to build sustainable infrastructure," says Johan Halvardsson, CEO of Eleda.

"The Eleda model works in Norway, and with the acquisition of Sartor & Drange, we can consolidate our position as a strong and expansive player in Norway. Vestland County is a growth region, and Bergen is Norway's second-largest city. Sartor & Drange is a leading and strongly positioned entrepreneur here with profitable growth over many years. Their service offering complements the other Norwegian companies very well, enabling great synergies between the companies," says Ole Gjermundshaug, CEO of Eleda Norway.

"We see that Eleda is absolutely right as a long-term owner. We are like-minded and united by our entrepreneurial spirit, sound values, and drive to develop the business and contribute to the development of society. We have long and good relationships with both public and private customers in the region, and we are in a market where there will be many investments in infrastructure and construction in the coming years. In the company, we have motivated employees and a solid platform for further growth. Together with the other companies within Eleda, I see that we will become even stronger and be able to grow both locally and nationally," says Arild Bøthun, CEO of Sartor & Drange.

Structure:
Sartor & Drange will be one of ten platform companies in Eleda and be part of Eleda Norway. The previous owners and key employees of Sartor & Drange will continue in their operational roles and become partners in Eleda. The acquisition will not have practical consequences for customers and employees of Sartor & Drange

The transaction is subject to closing conditions, including approval by the competition authorities.

For more information, please contact:
Johan Halvardsson, CEO Eleda, johan.halvardsson@eleda.se, mobile: +46 70-545 95 01
Ole Gjermundshaug, CEO Eleda Norway, ole@bga.no, mobile: +47 907 46 392
Arild Bøthun, CEO Sartor & Drange, ab@sartordrange.no, mobile: +47 415 11 104
Tobias Andersson, Head of M&A Eleda, tobias.andersson@eleda.se, mobile: +46 72-230 87 10
Marina Vangstad, Head of Communications Eleda, marina.vangstad@eleda.se, mobile: +46 70-815 65 46

Eleda was formed to build the infrastructure that makes society work. But our task has grown. Today, Eleda develops and maintains the infrastructure required in a changing society. Through our acquisitions, we have created a breadth of competences, which means that together we can offer everything from quick and simple projects to large, complex turnkey solutions. We take on our task by combining our companies' specialist knowledge, entrepreneurial mindset and commitment. This is how we create durable infrastructure for the next step. Eleda has more than 3,100 employees, a turnover of more than SEK 16 billion and headquarters in Stockholm. We are owned by Bain Capital, Altor and a broad group of key people in the group. The companies in Eleda are - in Sweden: Akea, Mark & Energibyggarna, Salboheds, JVAB, Craftor, Gatu och Väg Väst, One Nordic and in Norway: Gjermundshaug Anlegg and Anlegg Øst Entreprenør.

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Sartor & Drange is a strategically important acquisition for Eleda. We now have three platform companies in the Norwegian market, which is proof that we can and want to continue to expand in Norway with the aim of consolidating our position as a leading player in civil engineering in the Nordic region. I am particularly pleased that Sartor & Drange complements our existing companies and fits our culture well. It is a typical Eleda company with driven entrepreneurs, high profitability, good growth, and a committed organization with deep local roots. I look forward to seeing what we can achieve together in the Norwegian and Swedish markets to continue to build sustainable infrastructure.
Johan Halvardsson, CEO of Eleda