Published: 2022-01-04 07:45:19 CET
Vestum AB
Company Announcement
Vestum strengthens its position in container rental and related services through acquisition of specialist company with sales of SEK 124m, EBITDA of SEK 39m and EBITA of SEK 28m
VESTUM STRENGTHENS ITS POSITION IN CONTAINER RENTAL AND RELATED SERVICES
THROUGH ACQUISITION OF SPECIALIST COMPANY WITH SALES OF SEK 124M, EBITDA OF SEK
39M AND EBITA OF SEK 28M

2022-01-04
Vestum AB (publ) ("Vestum") has agreed to
acquire 100 percent of the shares in M.C.R. Mobile Container Repair AB, the
sister companies Glamco Containerservice AB and Conspect AB as well as the real
estate company Oceanterminalen Fastighetsförvaltning AB ("the MCR companies").
The purchase price will partly be financed through payment in reverse, which
will then be set off against 1,335,708 shares in Vestum through offset issues.
This will result in a dilution of approximately 0.4%. During the last twelve
months per September 2021, the MCR companies generated sales of SEK 123.9m with
an EBITDA of SEK 39.0m and EBITA of SEK 28.3m, corresponding to an EBITDA
margin of 31.5 percent and EBITA margin of 22.8 percent.

About the MCR
companies
The MCR companies were founded in 1983 by Mats Johansson and is a
supplier specialising in container rental and related services. The companies
offer various services such as repair, modification and rebuilding of
containers. The operations are conducted outside the gate of Scandinavias
largest container terminal, APM Terminals Gothenburg.

During the last twelve
months per September 2021, the MCR companies generated sales of SEK 123.9m with
an EBITDA of SEK 39.0m and EBITA of SEK 28.3m, corresponding to an EBITDA
margin of 31.5 percent and EBITA margin of 22.8 percent.

The MCR companies
have 36 employees and is headquartered in Gothenburg.

All figures referenced
are in accordance with the IFRS standards applied by Vestum and are
unaudited.

The MCR companies financials are expected to be consolidated into
Vestum from January 2022, provided that the indicative timetable for the
completion of the acquisition can be followed.

Comments from Vestums CEO Conny
Ryk:

Today we welcome the MCR companies to Vestum! We have been following the
container market for a long time and already have Containertjänst i Tyresö in
the Vestum portfolio and are now also taking the step into the port of
Gothenburg, which further strengthens our market position in container rental
and related services. The MCR companies have shown an impressive development
and have generated organic growth every year for the past 10 years with solid
profitability. Growth levels remain incredibly strong, and the companies are
characterised by high cash flow generation and impressive leadership. Vestums
M&A pipeline has never been stronger, and we work intensively to achieve the
goal of becoming the leading Nordic acquisition-driven Group with a distinct
focus on specialist companies in the construction services and infrastructure
industries, says Conny Ryk, CEO of Vestum.

About the acquisition
The purchase
price will partly be financed through payment in reverse, which will then be
set off against 1,335,708 shares in Vestum through offset issues. This will
result in a dilution of approximately 0.4%. The subscription price has been
determined via a ten-day volume-weighted average price ("VWAP") in Vestums
share during the period 17 December 2021 up to and including 3 January 2022.
The sellers have undertaken not to sell the subscribed shares for a period of
24 months ("lock-up").

The number of outstanding shares would increase in
connection with the acquisition from the existing 351,907,512 to 353,243,220
shares.

Completion of the acquisition
The acquisition is expected to be
completed within approximately three weeks. In connection with the completion
of the acquisition, the Board, backed by an authorization of the Annual General
Meeting, will make a formal decision to issue the shares in the offset
issue.

Adviser
Svalner provides financial advice and Cirio Advokatbyrå acts as
legal adviser to Vestum in connection with the acquisition.

For additional
information, please contact:
Conny Ryk, CEO of Vestum AB (publ)
Phone: +46 70
775 53 10
E-mail: conny.ryk@vestum.se mailto:conny.ryk@vestum.se

The following
documents can be retrieved from
     beQuoted
Press-release-20220104.pdf-https://www.bequoted.com/beQPress/download.a
     sp?Id=55009

About
Vestum
Vestum is a Swedish acquisition-driven company focused on acquiring and
developing specialist companies within the construction services and
infrastructure industries. Vestum is actively looking for high-quality
companies with proven business models, strong market positions and predictable
cash flows where Vestum can be involved and contribute to continued positive
development.

For additional information, please visit: www.vestum.se
http://www.vestum.se

Vestums share is traded under the short name VESTUM on
Nasdaq First North Growth Market and the companys Certified Adviser is G&W
Fondkommission: phone: +46 (0)8 503 000 50, e-mail: ca@gwkapital.se
mailto:ca@gwkapital.se .
 


Press-release-20220104.pdf