Rejlers continues to grow - now with Norwegian Nettkonsult
(REJL B)
Rejlers and Agder Energi has agreed that Rejlers will acquire Nettkonsult AS in two steps. In step one, carried out in Q3 2011, Rejlers acquires 49 percent of the shares and the remaining 51 percent of the shares will be acquired by the first half of 2014 at the latest.
Nettkonsult has a leading position in respect of consultancy services to the electricity market in Norway. The company has approximately 100 employees and had a turnover of NOK 100 million in 2010. The company's core business is advising customers in power distribution, energy and electrical safety. Nettkonsult is headquartered in Kristiansand and has 7 additional offices in Norway.
Peter Rejler, CEO of Rejlers, commented, "We are excited to finalize this acquisition. Nettkonsult has activities that comply very well with our own consulting business. Furthermore, we see this as an important step in order to grow further in the Norwegian market, which in addition to Sweden and Finland is a domestic market for us. We welcome Nettkonsults all employees to Rejlers and look forward to continue to develop the company together with Agder Energi."
Unni Farestveit, Chairman of Nettkonsult, commented, "We have had a discussion with Rejlers for some time and are very satisfied that we together have found a solution that is good for all parties involved, including Nettkonsults employees. Agder Energi looks forward to a continued good cooperation with Nettkonsult and the expanded opportunities that the company wins with Rejlers as owner."
The company's CEO, Kjell Myrann, continues as executive director of the company.
The acquisition is conditional upon required regulatory approvals.
For further information:
Peter Rejler, President and CEO of Rejlers, +46 70 602 34 24
Unni Farestveit, Chairman of Nettkonsult AS, tel +47 3 860 70 00
Kjell Myrann, CEO of Nettkonsult AS, tel +47 3 860 70 00
Lars Solin, CFO of Rejlers, +46 73 386 15 20
www.rejlers.com
Rejlers is a Nordic expertise group within electro-technology, energy, mechanics, automation, electronics, IT and telecommunications. Rejlers' shares are listed on the NASDAQ OMX Stock Exchange.
Rejlers discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.00 on 20 June 2011.