Green Landscaping Group expands in western Sweden through the acquisition of Markbygg Anläggning Väst AB
2 December 2021, 12:00 CET
Green Landscaping Group AB (publ) has today signed an agreement to acquire Markbygg Anläggning Väst AB (“Markbygg”) with sales of approximately SEK 280 million with good profitability.
Markbygg is a leading land and construction company in Västra Götaland based in Uddevalla and has about 60 employees. The company is active in excavation works with specialization in water and sewage, and customers are found mainly in the public sector, such as municipalities, state and municipal companies.
- Markbygg is a modern company, with a high degree of digitalization and well-developed processes. The company operates in an interesting market and delivers services with great customer value. We have had a dialogue with the owner Stefan Lundh and share common values, says Johan Nordström, CEO, Green Landscaping Group.
- By being part of Green Landscaping Group, I see the opportunity to preserve our own culture and continue to develop our business in new ways. We get new colleagues in the group with whom we can share our knowledge and skills. To end up in a context like this, I value a lot, says Stefan Lundh, CEO, Markbygg Anläggning Väst.
Green Landscaping Group acquires 100 percent of the shares. The transaction is subject to the Swedish Competition Authority's approval and is expected to be completed during the first quarter of 2022.
The acquisition is financed with existing credit facilities and through a non-cash issue of newly issued shares. The number of shares issued is expected to amount to approximately 400,000 and entails a dilution of approximately 0.8%.
The information was, through the contact person below, submitted for publication on 2 December 2021 at 12:00 CET.
For more information:
Johan Nordström, CEO, Green Landscaping Group AB
+46 708 38 58 12, johan.nordstrom@glgroup.se
Carl-Fredrik Meijer, CFO & IR, Green Landscaping Group AB
+46 (0)70-108 70 19, carl-redrik.meijer@glgroup.se
Green Landscaping Group AB (publ) is the Nordic leading player in ground maintenance and landscaping of outdoor environments in Sweden. 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 1,350 employees and sales amount to approximately SEK 2 billion. The Company's shares are listed on Nasdaq Stockholm with the ticker GREEN. For more information visit www.glgroup.se.
Markbygg Anläggning Väst was founded in 2000 and has about 60 employees. The company is active in excavation works with specialization in water and sewage, and customers are found mainly in the public sector, such as municipalities, state and municipal companies. For more information visit www.markbygg.se
