Green Landscaping Group acquires the Norwegian landscaping company H.T. Vike AS, with a central role in a segment that is undergoing electrification
30 November 2022 – 15:15 CET
H.T. Vike was founded in 2012 and since its inception has delivered groundwork for fuel stations and car washes in Norway.
The infrastructure for fuel stations and car washes is about to change fundamentally and H.T. Vike has a central role in the conversion as a supplier of groundwork for new establishments as well as rebuilding and cleaning of fuel stations and car washes.
Norway is the country in the world with the highest proportion of electric cars and with that comes a change in the infrastructure linked to conversion from fossil fuel stations to charging stations. Through a good understanding of the customers' needs, H.T. Vike has succeeded in positioning itself as a total supplier regarding groundwork in this segment.
- We think it is extra fun to partner with such a successful entrepreneur as H.T. Vike, which is in the middle of one of the big megatrends of our time. Even though Norway has come a long way in the transition from fossil to electric fuel, very large investments remain before having an infrastructure that achieves the goals formulated by the Norwegian government - that all new passenger cars and light vans must be zero-emission vehicles starting in 2025. In Green Landscaping Group, we have the world's best entrepreneurs, which means we can make a difference and create a more sustainable society, says Atle Roll-Matthiesen, Regional Manager Norway, Green Landscaping Group.
- I am proud of my company and after becoming part of the entrepreneurial family Green Landscaping Group, my ambition is that H.T. Vike together with its new sister companies will continue to drive infrastructure investment in Norway to new heights, says Hans Tormod Vike, founder of H.T. Vike.
- Strong entrepreneurs under the same umbrella provide opportunities for development, investment and cross-pollination and when we now together with H.T. Vike are in the middle of a megatrend, we can further contribute to the transformation of the infrastructure in the fuel industry. Being able to welcome the company to us is gratifying in several ways. Not least based on their entrepreneurial drive. The more strong entrepreneurs we become in the group, the more benefit we can do for society, concludes Atle Roll-Matthiesen, Regional Manager Norway, Green Landscaping Group.
Green Landscaping Group acquires 70 percent of the shares in H.T. Vike with immediate access and with a purchase option for the remaining 30 percent. The acquisition is financed within existing credit facilities and through a non-cash issue of newly issued shares. The board has therefore, with the support of authorization from the annual general meeting on 14 May 2022, decided on the issue of 256,846 shares in Green Landscaping Group, addressed to the seller. This corresponds to a dilution of 0.5 percent of the share capital and votes in Green Landscaping Group. Total number of shares in Green Landscaping Group is 55,394,717 shares after completed issue.
In connection with the transaction Hans Tormod Vike invests in Green Landscaping Group and is currently a shareholder in both H.T. Vike as in Green Landscaping Group.
The information was submitted for publication, through the agency of the contact persons on 30 November 2022, at 15:15 CET.
For more information:
Atle Roll-Matthiesen, Regional Manager Norway, Green Landscaping Group
+47 909 00 112, atle.roll@glgroup.no
Carl-Fredrik Meijer, CFO & IR, Green Landscaping Group AB
+46 70 108 70 19, carl-fredrik.meijer@glgroup.se
Green Landscaping Group AB (publ) works with outdoor environments and infrastructure. Through subsidiaries, we offer the most comprehensive service portfolio on the market, aimed at making outdoor environments more sustainable and safe. Our business concept is to enhance the customer's outdoor environment by offering services focused on high customer value, long-term sustainability, and quality. The Company has approximately 1,600 employees and sales amount to approximately SEK 3.2 billion. The Company's shares are listed on Nasdaq Stockholm with the ticker GREEN. For more information visit www.glgroup.se.
H.T. Vike AS was founded in 2012. The company provides groundwork mainly to the fuel companies throughout Norway. The company has a turnover of approximately NOK 60 million with a good profit margin.