Bellman Group AB (publ) (”the Company” or ”Bellman Group”) has today
completed
the acquisition of Samgräv Holding AB (“Samgräv”) as announced on
13 December
2018.
On 13 December 2018, Bellman Group entered into an agreement
with the owner of
Samgräv regarding acquisition of all shares in the company
and indirectly its
subsidiaries, conditional upon that the Company obtains
required financing and
that the Swedish Competition Authority approves the
acquisition. Both conditions
have now been met and closing has taken place
today.
The initial cash payment of SEK 100 million has been paid in its
entirety as of
today and the Company has also completed a new issue of shares
valued at SEK 44
million directed to the former owner of Samgräv, which after
the new issue gives
the former owner of Samgräv an ownership in Bellman Group
of 6.8 % in total. As
previously announced, an additional purchase price in an
amount of maximum SEK
96.5 million may be payable, depending on the development
of Samgräv’s EBITDA
during the period and each of the years 2019 through
2022.
The intention is that Samgräv shall continue to operate as a separate
business
following the acquisition.
The acquisition has been funded by new
equity and issuance of new bonds. The
transfer restrictions which have until
now applied to the new bonds pursuant to
the so-called Investor Undertaking
entered into by each investor of the new
bonds, are as a result of the
completion of the acquisition no longer in force.
The new bonds are therefore
now transferable without restrictions.
For additional information regarding
the acquisition, please refer to the
Company’s previous press release dated 13
December 2018.
Andulf Advokat has acted legal advisor in connection with the
acquisition and
Pareto Securities and Gernandt & Danielsson Advokatbyrå has
acted financial and
legal advisor, respectively, in connection with the bond
issue.
For additional information, please contact:
Roger Axelsson, CFO and
Head of Communications, Bellman Group, +46 (0) 70 874 50
41,
roger@bellmans.se
Håkan Lind, CEO, Bellman Group, +46 (0) 70 669 80 28,
hakan@bellmans.se
Roger Hansson, CEO, Samgräv, +46 (0) 70 677 65 53,
roger@samgrav.se
About this information:
This information is information that
Bellman Group AB (publ) is obliged to make
public pursuant to the EU Market
Abuse Regulation. The information was submitted
for publication, through the
Company’s CEO, at 14.00 CET on 31 January 2019.
About Bellman Group
Bellman
Group AB is comprised of Bellmans Åkeri & Entreprenad AB and
Grundab
Entreprenader i Stockholm AB, who are haulage contractors, as well as
of Modern
Sprängteknik i Norden AB with the subsidiaries Uppländska
Bergkrossnings AB,
Uppländska Bergborrnings AB and Sprängarbeten i Trönödal AB,
who undertake
blasting operations, and VSM Entreprenad AB with its subsidiaries
VSM AS,
Munthers Specialtransporter AB and VSM Rental AB, which are machine
contracting
companies. The group’s net sales for the financial year 2017,
calculated pro
forma including all of the above mentioned companies, amounted
to SEK 1,353
million and the adjusted EBITDA for the same period, calculated
pro forma
including all of the above mentioned companies, amounted to SEK 155
million. The
group has approximately 360 employees and approximately 500
subcontractors.