LAB AS acquires Helgesen Tekniske Bygg AS

LAB AS, a subsidiary of AF Gruppen ASA, has acquired 70 percent of the shares in the construction company Helgesen Tekniske Bygg AS.

Helgesen Tekniske Bygg is a well-run company with good history, established in 1987. The company's business idea is to take projects from idea to finished buildings and the company works closely with the customers in the project development phase. The main focus is on industrial and warehouse buildings, malls and office buildings. Helgesen Tekniske Bygg has about 50 employees and has a turnover of MNOK 335 in the last three years and an operating margin of 6.5 percent. Enterprise Value for 100 percent of Helgesen Tekniske Bygg is valued at MNOK 140.

Translated: "We are very pleased to bring Helgesen Tekniske Bygg to the team. The company has delivered good performance over time and has a culture and value base that coincide with LAB and AF Gruppen. The acquisition is in line with our strategy to grow profitable in Western Norway by building on LAB's strong position in the region, says Morten Grongstad, CEO of AF Gruppen.

Aabø-Evensen & Co acted as legal advisor to Helgesen Tekniske Bygg Holding AS in connection with the transaction.

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