Cramo Plc Stock Exchange Release 5 October 2018 at 9.30 am (EET)
Cramo’s acquisition of Nordic Modular Group approved by the Swedish Competition Authority
The Swedish Competition Authority has on 4 October 2018 approved Cramo’s acquisition of the Swedish-based Nordic Modular Group Holding AB (“Nordic Modular Group”), which entails that the transaction can be completed.
As announced on 26 June 2018, Cramo has signed an agreement to acquire Nordic Modular Group from Strukturfonden HC11 AB, a subsidiary of Nalka Invest AB, and certain minority shareholders. The transaction was subject to merger control clearance from the Swedish Competition Authority. Cramo expects the transaction to close at the end of October 2018.
The acquisition of Nordic Modular Group is fully in line with Cramo’s Shape and Share strategy. It will strengthen Cramo’s Modular Space business (Cramo Adapteo) on the overall Nordic modular space market by bringing inhouse development and production capabilities and therefore supports Cramo’s ambitions to grow profitably and increases latitude in exploring strategic alternatives for the Modular Space business. In addition, the transaction expands company’s business model and enables the development of new products and customer solutions.
Further information on the transaction has been disclosed in stock exchange releases published on 26 June 2018.
President and CEO
Leif Gustafsson, President and CEO, tel: +46 70 691 2550, firstname.lastname@example.org
Aku Rumpunen, CFO, tel: +358 40 556 3546, email@example.com
Mattias Rådström, SVP Marketing, Communications and Investor Relations, tel: +46 70 868 70 45, firstname.lastname@example.org
Nasdaq Helsinki Ltd
Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in fourteen countries. With a group staff around 2,500, Cramo's consolidated sales in 2017 was EUR 729.5 million. Cramo shares are listed on Nasdaq Helsinki Ltd.
Cramo Adapteo is the sub-brand for Cramo’s modular space operations.