ININ Group has today completed the acquisition of 100 percent of the shares in LAJE AS, a large regional infrastructure construction and service company in Norway. LAJE will head up ININ Group’s Power Infrastructure investment platform.
Reference is made to the stock exchange announcement dated 2 August 2023 regarding ININ Group signing the share purchase agreement to acquire LAJE.
ABOUT LAJE AS
LAJE is a focused infrastructure construction and service company within the energy infrastructure, telecom and electrification sector. The company is headquartered at Hønefoss with additional outreach from strategic locations across central-eastern Norway. It employs 275 people with a strong mix of electricians, energy and telecom installers and engineers.
LAJE’s business is divided into three business segments: energy infrastructure, telecom and electrification, all focusing on the ongoing electrification and digitalization megatrends. Its broad geographical presence across central-eastern Norway makes LAJE well-positioned to serve large framework agreements with the major grid companies in the region.
The company has a strong backlog, including framework agreements with an annual value of approximately NOK 490 million. LAJE’s 2023 revenue is expected to reach approximately NOK 700 million.
“This is our biggest acquisition so far, and it almost doubles ININ Group’s revenues. More importantly, it makes us a major player within energy infrastructure, telecom and electrification. These are all segments with substantial growth potential, which we will work very hard to capitalize on,” says Øivind Horpestad, CEO of ININ Group.
LAJE will head up ININ Group’s Power Infrastructure investment platform, which is one of four investment platforms within the group.
TRANSACTION TERMS
ININ Group’s acquisition of 100 percent of the shares in LAJE AS will be financed with cash and debt. The purchase price consists of a fixed payment and potential earn-out payments based on the realised EBITDA for 2023 and 2024.
