Nordic Waterproofing acquires Urban Green AB, a leading provider of green solutions in urban environments
Nordic Waterproofing Group has acquired the Swedish company Urban Green AB ("Urban Green"), trading in the company is offered indirectly through UG Partner Sweden AB through Pepins. The company is headquartered in Stockholm and has production facilities in Vislanda, Småland. Urban Green has 27 employees and an annual turnover of approximately SEK 50 m. The acquisition is part of our strategy to promote sustainability by establishing green environments for roof landscapes. Urban Green complements Nordic Waterproofing's existing Veg Tech operation and these two companies strengthens the offering of services and products to our customers in green solutions for urban environments.
Urban Green was established in 2014 in Vislanda, Småland, with an idea to offer multifunctional green solutions in urban planning environments. In particular, the company provides large complex roofing contracts where the aim is to both create a solution to the stormwater problem and create a social space for meetings and socializing.
"The acquisition of Urban Green is an important step in being able to offer a wider range of services and products in green solutions for urban environments for our customers." says Mats Lindborg, Head of Sweden and Norway. "Green solutions for urban environments is an area that has attracted a lot of attention in recent years and with both Urban Green and Veg Tech in our offering, we are strengthening our position in this growing market.
"Urban Green has in a short time established itself as a leading supplier of green solutions for urban environments", says Therese Lundstedt, CEO of Urban Green. "We are pleased to have an owner with a good understanding of our business and see great potential for continued growth of our business and to improve the offering to our customers." continues Therese.
Nordic Waterproofing Holding AB's Swedish subsidiary Nordic Waterproofing Group AB has acquired the shares in Urban Green AB for an Enterprise value of SEK 55 million. The transaction was closed in connection with the signing of the agreement on March 18, 2021. The purchase price was paid in connection with the completion of the transaction and is financed through Nordic Waterproofing's existing credit facilities. The acquisition is expected to have a small positive effect on Nordic Waterproofing's earnings per share in 2021 within the Products & Solutions segment. Costs related to the transaction amount to approximately SEK 1 m and will be accounted for in the first quarter of 2021.
"Nordic Waterproofing's strategy is to promote sustainable building solutions, and to broaden our product and services offering. I am very pleased that with Urban Green we further enhance our offering of green solutions for urban environments. I welcome our new colleagues in Sweden to Nordic Waterproofing" says Martin Ellis, President and CEO of the Nordic Waterproofing Group.
This information is information that Nordic Waterproofing Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 18 March 2021, 11.00 a.m. CET.
For further information, please contact:
Per-Olof Schrewelius, CFO and investor relations
Telephone: +46 707 82 79 58
Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland and through part-owned franchise companies in Denmark. The Company markets its products and solutions under more than ten brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Byggpartner, SealEco, Distri Pond, SPT-Painting, Taasinge Elementer, RVT and Veg Tech. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.