Jun 22, 2015

NRC Group ASA has signed agreements to acquire Litz Entreprenad AB and Elektrobyggnad Sverige AB

NRC Group ASA ("NRC") has agreed to acquire Litz Entreprenad AB and its subsidiarie Litz Installasjon AB ("Litz"), and Elektrobyggnad Sverige AB ("Elektrobyggnad")(the "Transactions"). Litz and Elektrobyggnad will be organised as subsidiaries of Svensk Järnvägsteknik AB ("SJT"), NRC's Swedish company.

Litz is a rail certified specialists in all railway- related electric services such as signal and contact line - Catenary. The company has a strong position in the eastern region of Sweden, where about 30-40% of its turnover is as subcontractor to SJT. Litz had an order book as of 30 April 2015 of approximately SEK 50 million.

Elektrobyggnad is one of Sweden's largest specialized businesses within rail contact line, and is a major supplier within railway to major companies. Elektrobyggnad enjoys a strong market position in the western region of Sweden. About 35% of its turnover is as subcontractor to SJT. Elektrobyggnad has an order book as of 30 April 2015 of SEK 74 million.

The two companies will complement NRC's Swedish subsidiary SJT, which specializes in track and project management. SJT will after the transaction be a turnkey supplier and strengthen both its competitiveness and ability to deliver full-scale projects based on in-house competence. The acquisitions will enable SJT to take on substantially larger projects and in addition, SJT as a turnkey supplier is now in the position to undertake a whole array of maintenance contracts. NRC expects that the acquisitions will contribute to strong growth in 2016.

The Transactions will be settled with cash and new shares in NRC. Litz' shareholders will in the Transactions receive 844,444 new shares based on a SEK/NOK exchange ratio of 0.95 and a cash consideration of SEK 16 million. Elektrobyggnad's shareholders will receive 786,207 new shares based on the said SEK/NOK exchange ratio shares in NRC and a cash consideration of SEK 11 million. The final number of shares will be determined based on the actual SEK/NOK exchange ratio used at closing.

Both agreements are subject to due diligence, completion of final transaction documents and final approval by the board of directors of NRC.

For further information, please contact: Trygve Bruland, Chairman of the board of NRC Group ASA, +47 41146000

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Henning Olsen

Henning Olsen


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