Veidekke buys Hande AS of Oslo

Veidekke has signed a letter of intent to purchase 68% of the shares of Hande AS of Oslo, a company that specialises in remodelling and fitting out office premises. "Hande AS is a very well-run company. With this purchase, we become a major player in an exciting growth market," says CEO. Dag Andresen of Veidekke Entreprenør.

Hande AS is a third-generation family company, founded in 1936, which undertakes turnkey contracts for professional property managers of office buildings in the Oslo area. The 25 employees are highly experienced craftsmen and project managers. The company also has a stable base with good partners. In 2017, Hande AS had a turnover of more than NOK 200 million.

"We wish to further develop our activities, so we are very happy that our first choice, Veidekke, is now taking ownership. This secures long-term development, capacity and implementational ability, for the benefit of our customers and employees alike. We will continue to operate as a separate company, but can now draw on far greater resources with Norway's largest contractor behind us," says project manager, partner and chairman Lars Hande of Hande AS.

"Hande AS will bring us expertise and complement our activities. Rebuilding and fitting out office premises is a large and growing market in the Oslo area, and Veidekke has only performed these types of services to a limited extent in the past. In addition,Hande and Veidekke have several of the same stable customers in our portfolios and we see many synergies in a strategic cooperation. Right from the first meeting with Hande, we could see that both their values and their business concepts were a good match and I am looking forward to having Hande as part of the Veidekke family," says Hans Olav Sørlie, Regional Manager of Veidekke Entreprenør.

The final contract is expected to be signed during August, subject to approval by the Norwegian Competition Authority.

For more information, contact:
Veidekke Regional Manager Hans Olav Sørlie, tel. 91 74 49 23, hans-olav.sorlie@veidekke.no 
Lars Hande, chair of Hande AS, tel. 90 91 37 37, lars@hande.no 
Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22, helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Revenue is almost NOK 32 billion, and half of the 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.