Nordisk Bergteknik acquires BGS Svensson – further strengthens the offering and market position in region Västra Götaland
Nordisk Bergteknik has today signed an agreement regarding the acquisition of all shares in BGS Svensson AB, an established foundation solutions company based in Kungshamn. Through the acquisition, Nordisk Bergteknik continues to strengthen its offering and presence in region Västra Götaland, with the ambition to serve as a strategic partner in selected niches in the market for construction and contracting services within infrastructure.
BGS Svensson was founded in 2008 and is expected, for the full year of 2021, to reach a turnover of SEK 90–100 million with a solid profitability that will contribute to a strengthened margin for the Group. BGS Svensson are specialists in general foundation work and foundation reinforcement with a focus on existing properties. BGS Svensson, which conducts work over all of Sweden and parts of Norway, is based in Kungshamn in Sotenäs municipality.
– Nordisk Bergteknik is an active player in the ongoing consolidation of the industry, and we are very positive for the opportunity to acquiring BGS Svensson. It is a well-regarded company with extensive experience of foundation work, that shares our ambitions regarding delivery reliability and quality. The acquisition complements our offering and further strengthens us in the segment Foundation Sweden. The fact that we are also further strengthening our geographical presence in region Västra Götaland through the acquisition, is strategically important as this market is in a substantial expansion phase, says Andreas Christoffersson, CEO Nordisk Bergteknik.
The purchase price amounts to a maximum of SEK 88.2 million and is paid through SEK 50 million in cash, SEK 25 million through reinvestments in shares in Nordisk Bergteknik AB, SEK 3.2 million in seller promissory note, and an additional purchase price consideration to a maximum of SEK 10 million. The shares will be issued in accordance with the mandate authorized by the Annual General Meeting in 2021 and are subject to a lock-up commitment expiring in the autumn of 2022.
BGS Svensson will be consolidated from 30 November 2021 and reported in the Foundation Sweden segment. The acquisition is expected to contribute to the earnings per share with approximately SEK 0.20 on a yearly basis, based on the number of outstanding shares after the acquisition.
This is information that Nordisk Bergteknik AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted, through the care of the contact persons below, for publication on 30 November 2021 at 11:00 CET.
For further information, please contact:
Andreas Christoffersson, CEO, +46 70-621 19 28, andreas.christoffersson@bergteknik.se
Johan Lundqvist, CFO, +46 76-392 71 21, johan.lundqvist@bergteknik.se
About Nordisk Bergteknik
Nordisk Bergteknik has a clear growth strategy with the objective to contribute to the development of a future sustainable society. Our companies are specialists within rock handling and foundation solutions, and through compassion and skill they are able to combine demand with the surrounding natural conditions. To be involved at an early stage in building modern societal functions is our everyday life, our home ground and our future.