Nordic Infrastructure Group has today signed the share purchase agreement to acquire 100 percent of the shares in Norwegian railway contractor SLAM Jernbaneteknikk AS.
Reference is made to the stock exchange announcement dated 4 July 2023 regarding the acquisition, which will reinforce Nordic Infrastructure Group’s already strong position in the Norwegian market within construction, maintenance and other specialist services to the railway industry. SLAM Jernbaneteknikk becomes part of ININ Group’s Rail Infrastructure investment platform, which is headed up by Nordic Infrastructure Group.
SLAM Jernbaneteknikk is a provider of high / low voltage and signalling services within the construction, maintenance, troubleshooting and control of railway technical systems. The company also provides safety-related work for railways.
SLAM Jernbaneteknikk is headquartered at Roverud in Kongsvinger municipality, Innlandet county, Norway. In 2023, the company generated revenue of approximately NOK 36 million and EBIT of approximately NOK 6.7 million. The company has 20+ employees.
“There is a substantial and growing demand for signalling technicians and specialist signalling competence. SLAM Jernbaneteknikk offers exactly this. By becoming part of Nordic Infrastructure Group, we are becoming the leading player within this field in Norway,” says Gjermund Sogn, CEO of Nordic Infrastructure Group.
SLAM Jernbaneteknikk is valued at approximately NOK 31.3 million in the transaction, which will be settled 65 percent in Nordic Infrastructure Group shares and 35 percent in cash, paid in three tranches.
Closing of the transaction is expected by the end of March 2024.
