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Green Landscaping acquires Hadeland Maskindrift AS with sales of approximately 200 million NOK

Green Landscaping Group AB (publ) has today acquired Hadeland Maskindrift AS, a company in street and road maintenance with operations in the Oslo region.

Hadeland Maskindrift was founded in 2004 with focus on street and road maintenance. The company has a strong presence in the Oslo region and has 95 employees working with customers such as the City of Oslo, the Norwegian Public Roads Administration and more.

Over the years, Hadeland Maskindrift has had a stable business with good earning capacity in parallel with an impressively high growth rate.

- The acquisition of a quality company such as Hadeland Maskindrift is another step on the way to establishing a platform of well-managed entrepreneur-led companies in Norway. This would not have been possible without our subsidiary GAST Entreprenør AS. The people responsible, Lars-Ola Sterud and Paul Gamme, have a well-established collaboration with Hadeland Maskindrift, which has been crucial to now be able to link another very well-run company to the group, says Johan Nordström, CEO of Green Landscaping Group.

- We also follow our previously communicated strategy to consolidate the Nordic outdoor environment industry. We intend to continue the path we have set in order to have the full effect of our strategy with a sufficient number of entrepreneurs in each geography, Johan Nordström continues.

- We have for some time planned to take the next step in our business. By becoming part of Green Landscaping Group, we see the opportunity to run the company further with a focus on entrepreneurship, but at the same time become part of something bigger. We look forward to participating in building the best outdoor environment group in Norway. Getting new colleagues that we can both support and get support from makes it possible to deliver top-class services in an even better way, say Ola Kjos and Lars-Magnus Braaum, owners and founders of Hadeland Maskindrift.

- The company's two founders have a long history in the industry and are well established in the attractive market in Oslo. They have built a very successful company and we are very happy to welcome them to the Green Group. They will take a central place in the continued work in Norway to attract the right companies to the group, Johan Nordström concludes.

Green Landscaping Group acquires 100% of the shares in Hadeland Maskindrift AS. The acquisition is financed through loan and issue of own shares. The Board has therefore, within the scope of the authorization from the Annual General Meeting on 14 May 2020, today decided on a directed issue of 748,782 shares in Green Landscaping Group, aimed at the sellers of Hadeland Maskindrift AS. The subscription price amounts to SEK 26.20 per share and is based on a weighted average price.

Through the private placement, the number of shares in Green Landscaping Group increases by 748,782 shares to a total of 46,953,413 shares.

The information was submitted, through the care of the contact persons below, for publication 1 September 2020 at 14:00 CEST.

Source: Cision
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