Nordic Waterproofing Group has acquired 70% of the Norwegian company Byggpartner AS ("Byggpartner").
The company is headquartered in Sandefjord and performs installation and maintenance of waterproofing products in the area around Oslo. Byggpartner has 56 employees and an annual turnover of ca NOK 180 m. The acquisition will strengthen our position and improve our service offering in the Norwegian market.
Byggpartner was established 1998 in Sandefjord, Norway, and has since been able to offer high quality services in the installation and maintenance of waterproofing products. Byggpartner is the largest privately owned waterproofing contractor in Norway and has a strong position in the area around Oslo.
"The acquisition of Byggpartner is an important part of our strategy to strengthen our position in the Norwegian market and to provide Norwegian customers with a better service offering." says Petter Holth, Country Manager for Norway. "The geographical location gives us a strong strategic position in Norway for further growth within this segment.".
"Byggpartner has had a good growth for several years and this is a natural step to increase the speed of our development," says Björn Svanberg, CEO of Byggpartner. "We are pleased to have a strong owner with a long-term focus and good understanding of our business and we see a good potential for continued growth" Björn continues.
Nordic Waterproofing Holding AB's Norwegian subsidiary Nordic Waterproofing AS has acquired 70 percent of the shares in Byggpartner AS. The seller is the company's founder and the acquisition is financed through Nordic Waterproofing's existing credit facilities. The acquisition is expected to have a minor positive effect on Nordic Waterproofing's earnings per share in 2021.
"Nordic Waterproofing's strategy is to broaden our product and service offerings in the relevant European markets and with Byggpartner we get an exciting addition with good growth potential in the Norwegian market. We appreciate very much that Byggpartner's previous principal owner and the company's management continue as minority shareholders and we welcome our new colleagues in Norway to Nordic Waterproofing" says Martin Ellis, President and CEO of the Nordic Waterproofing Group.
The information was submitted, through the agency of the contact person below, for publication on 28 January 2021 at11:00 CET.
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