K-Fastigheter buys prefab factory in Strängnäs
Finja Prefab AB, a wholly-owned subsidiary of K-Fast Holding AB, has entered into an agreement with the construction and real estate group Kilenkrysset for the acquisition of its prefabricated factory in Strängnäs. The purchase is an important part of K-Fastigheter’s investment in building more rental apartments in the Mälardalen region.
K-Fast Holding AB (“K-Fastigheter”) has entered into an agreement to acquire Kilen Prefab AB with operations and production facilities for prefabricated concrete frames in Strängnäs. Through the acquisition, K-Fastigheter will strengthen its position as a builder and manager of cost-effective rental apartments in concept houses, with a focus on the Mälardalen region.
“The purchase of this prefabricated factory strengthens K-Fastigheter’s production capacity in Mälardalen, a growth area that is a priority for us, and one of Sweden’s most construction-intensive regions,” says Jacob Karlsson, CEO of K-Fast Holding AB. “Today we have over 1,300 apartments in ongoing production, and our goal is to be able to offer more affordable rental apartments in more places around Lake Mälaren and nearby areas with good growth in the future.”
“It feels very positive and gratifying that K-Fastigheter, a strong player in the housing industry, is the buyer. I am very proud of the factory we have built up over the years and it will be exciting to follow its future development,” says Dan Bohman, CEO of Kilen Prefab AB.
“With this acquisition, we welcome about twenty new employees in Strängnäs. The facility is well maintained and gives us a good complement that strengthens our market position, and we look forward to being able to offer Prefab’s climate-positive concrete frames to more customers. Because a concrete frame has a long service life, it is an excellent choice when you, like us, think long-term,” says Kaj Grönvall, CEO of Finja Prefab.
The prefab factory has a turnover of approximately SEK 60 million on an annual basis. The seller is Kilenkrysset Produktion AB, a company within the Kilenkrysset Group. The preliminary purchase price for the shares amounts to SEK 21 million and transfer of the shares will take place on 30 April 2021.
For further information, please contact:
Kaj Grönvall, CEO Finja Prefab AB, e-mail: kaj.gronvall@finjaprefab.se, telephone: +46 702 667 179
Anders Antonsson, IR Manager, e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 708 730 900
As a property company, K-Fastigheter’s objective is to add value for tenants by creating attractive homes with superior comfort. The Group’s operations encompass active property management, project development and proprietary construction operations. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept buildings, developed in-house and constructed for proprietary management. K-Fastigheter provides some 2,240 homes in several locations in the Öresund region, in the province of Småland and in western Sweden, and is assessing new markets as production capacity increases. The Group’s property portfolio has a book value of approximately SEK 6.9 billion, with an annual rental value of about SEK 265 million. Since November 2019, the company’s class B shares have been traded on Nasdaq Stockholm (ticker: KFAST B). Read more at www.k-fastigheter.com
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