Nordic Infrastructure Group’s communicated in April its intent to acquire Thuve’n Anlegg & Bane AS. The two companies have today signed the final share purchase agreement (SPA).
Thuve’n Anlegg & Bane AS becomes part of Inin Group’s Rail Infrastructure investment platform, which is headed up by Nordic Infrastructure Group.
“We are delighted to have reached agreement with Thuve’n Anlegg & Bane. We expect the team’s competence within construction and installation of fibre optic infrastructure and other communication equipment to be in strong demand in the coming years, as new signalling systems are being built for Norwegian railways,” says Gjermund Sogn, CEO of Nordic Infrastructure Group.
ABOUT THUVE’N ANLEGG & BANE AS
Thuve`n Anlegg & Bane’s team has more than 20 years’ experience from construction services related to fibre optic equipment and cable infrastructure. The company also provides construction services related to ERMTS (European Rail Traffic Management System) signalling equipment.
In addition, Thuve`n Anlegg & Bane AS provides construction services on behalf of broadband companies related to installation of fibre cables to business customers as well as consumers.
Thuve’n Anlegg & Bane AS expects to generate revenue of approximately NOK 20 million in 2023.
TRANSACTION TERMS
Thuve’n Anlegg & Bane AS is valued at NOK 25 million in the transaction, which will be settled by NOK 20 million in shares in Nordic Infrastructure Group and NOK 5 million in cash. The cash consideration will be settled in two tranches: one at closing and the second after delivery of audited accounts for 2023. The owners have agreed to a lock-up agreement as well as a non-compete clause after expiry of the lock-up agreement. Closing of the transaction is expected by the end of June 2023.
