Green Landscaping Group AB (publ) has today, through its subsidiary GAST Entreprenör completed the previously communicated acquisition of TH Anlegg's landscaping operations in Norway.
Green Landscaping made its entry into the Norwegian market in early 2020 through the acquisition of Gast Entreprenör. Now the business is further strengthened by the acquisition of TH Anlegg's operations which provide landscaping services in the Oslo area.
TH Anlegg was founded in 2001 and has since then shown stable growth and a good profit margin. The company has fourteen employees and will be part of Gast Entreprenör. The companies have a long business relationship and see continued joint development as a natural next step. The business that is now acquired had a turnover of approximately NOK 30 million during the financial year 2019.
- We are finally closing the deal and can now integrate TH Anlegg's employees and customers into Gast Entreprenör. We are really pleased and confident that we now can expand our operations through the power of our new employees and customers, says Lars Ola Sterud, CEO Gast Entreprenör.
The purchase price is paid in cash to the sellers of TH Anlegg's operations and the sellers have committed to reinvest part of the purchase price in shares in Green Landscaping through acquisitions on Nasdaq Stockholm.
The information was submitted for publication on July 1, 2020 at xx: xx CET, through the contact persons below.