Green Landscaping Group acquires Hartmann Ingenieure GmbH, based in Berlin, Germany

28 December 2023, 14:30 CET

Green Landscaping Group (Publ) acquires Hartmann Ingenieure GmbH, a company providing ground maintenance, restoration of cultural sites, nature protection, and landscaping services for outdoor environments in Berlin, Germany.

Hartmann Ingenieure GmbH was founded in 1985 and is today run by founder Christoph Hartmann together with 55 employees. The company is based in Berlin, Germany and provides ground maintenance and landscaping services for outdoor environments, specializing in restoration of cultural sites, nature and landscape protection, as well as recycling of building materials, known as BioSynergy. The public sector accounts for more than 80 percent of sales, well aligned with the strategic focus of Green Landscaping Group. Net sales in 2022 amounted to approximately EUR 4.5 million with a profit margin that exceeded that of Green Landscaping Group.

"The acquisition of Hartmann Ingenieure GmbH further strengthens our presence in the German market. We are very happy to welcome Christoph Hartmann and his employees to Green Landscaping Group. Hartmann Ingenieure GmbH has a strong competitive advantage in its central location in Berlin and market leading know-how in delivering high-quality outdoor maintenance and landscaping services in historical and culturally important sites. We are impressed by the strong employee-centric corporate culture, and we will work together with Christoph Hartmann to ensure it remains. With him on board, we see further opportunities to attract the best companies to our entrepreneurial network in Berlin and Germany," says Stephan Stieglauer, Regional Manager Germany, Green Landscaping Group.

"I have followed Green Landscaping Group’s entry into Germany with interest, and through many insightful conversations I have become familiar with Green Landscaping Group's business philosophy and strategy. Green Landscaping, with its decentralized business, feels like a natural home for my company in the future. I am proud of my company and after becoming part of the Green Landscaping Group entrepreneurial family, it is my ambition that Hartmann Ingenieure GmbH, together with our new sister companies, will drive the landscaping industry in Germany to new heights. We are pleased to partner with Green Landscaping Group and together create a future-proof business," says Christoph Hartmann, Founder and CEO, Hartmann Ingenieure GmbH.

Green Landscaping Group acquires 100% percent of the shares in Hartmann Ingenieure GmbH with immediate access. The acquisition is financed with cash and through a non-cash issue of shares in Green Landscaping Group.

The Board has therefore, within the scope of the authorization from the Annual General Meeting on 17 May 2023, decided to issue 103 804 shares in Green Landscaping Group, aimed at the seller of Hartmann Ingenieure GmbH. This corresponds to a dilution of 0.18% percent of the share capital and votes in Green Landscaping Group. The total number of shares in Green Landscaping Group amounts to 56 799 575 shares after the issue. The previous owner of Hartmann Ingenieure GmbH is now a shareholder in Green Landscaping Group AB.

The information was submitted for publication, through the agency of the contact person, on 28 December 2023, at 14:30 CET.

For more information:
Magnus Larsson, Head of Investor Relations, Green Landscaping Group AB
+46 70 270 52 83, magnus.larsson@glgroup.se

Stephan Stieglauer, Regional Manager Germany, Green Landscaping Group

+49 151 5046 3119, Stephan.stieglauer@greenlandscaping.de

Green Landscaping Group AB (publ) is a home for entrepreneurs. The service areas it is involved in are landscaping and construction, ground maintenance and snow & ice removal. The Group has more than 2 000 employees and net sales amounted to SEK 4.8 billion. The shares are listed on Nasdaq Stockholm with the ticker GREEN. For more information visit www.greenlandscaping.com.

Hartmann Ingenieure GmbH was founded in 1985. The company provides maintenance and landscaping services for outdoor environments in Berlin, Germany. The company has a turnover of approximately EUR 4.5 million and has 55 employees. For more information visit www.hartmanngalabau.de