This announcement is published in accordance with section 3.4 of the Continuing
Obligations for listed companies.
Oslo, 11 August 2015 -Multiconsult ASA ("Multiconsult") has entered into
agreements with the other shareholders in LINK arkitektur AS ("LINK") for the
acquisition of the remaining 68 per cent of the shares. Following completion of
these transactions, Multiconsult, previously owning 32 per cent of the shares,
will own 100 per cent of the shares in LINK. The sellers are Målsnes Invest AS,
Tviberg AS, Onafyr AS, Halleraker AS, Paladio AS (representing four employed
shareholders) and WSP Europe AB.
The total purchase price for the shares to be acquired is approximately NOK 109
million, based on a total equity value of NOK 160 million on a 100 per cent
basis. The acquisition will be settled in cash and financed through
Multiconsult's existing cash holding.
LINK is one of the leading architect offices in Scandinavia, with a pan-Nordic
presence in major cities and regions in Norway, Sweden and Denmark. The company
has a strong track record on returns, driven by steady growth on the basis of a
solid financial position. LINK represents an excellent strategic fit for
Multiconsult, offering the potential for significant value creation through
operational synergies as well as further strengthened value proposition to
customers. Stronger ties and enhanced cooperation will enable Multiconsult and
LINK to jointly meet the growing demand from both the public and private sector
for integrated engineering and architect consultancy services.
"Having been the largest owner since 2008, we are very pleased to be able to
increase our ownership stake in the strong brand and high quality expertise
represented in LINK. We have a strong belief in the collective strength and
joint efforts of our companies, and we see the collaboration between the early
phase architecture and engineering disciplines being one of the key drivers of
sustainable urbanisation" says Mr Christian Nørgaard Madsen, CEO of
Multiconsult.
"I am very pleased to see that after several years of cooperation and part
ownership, Multiconsult has decided to include architecture as an important part
of its service offering. The market for architect services in the Nordic
countries is changing rapidly with growing demand for quality, competence and
capacity. Several companies in this business have established presence across
the region, including Norway, Sweden and Denmark, considering the Nordic region
as their home market. We see great opportunities to continue and further
strengthen LINK as one of the leading architect offices in the Nordic region,
driven by a single owner with strong impact" says Rolf Maurseth, acting managing
director of LINK.
Multiconsult intends to maintain LINK as a separate brand within the
Multiconsult group, organized as a wholly owned subsidiary, fully consolidated
in group financials.
LINK recorded total revenues of NOK 361.2 million and net profit of NOK 14.7
million in 2014. Further financial figures are included in the attachment. LINK
has approximately 200 employees in Norway and 150 employees in a fully owned
subsidiary in Sweden. The board of directors of LINK AS currently consists of
Trond Dahle (chair), Christian N. Madsen, Geir Odd Målsnes, Svein K. Halleraker,
Magnus Meyer, Liv-Kristine Rud (employee elected), Erlend Rudjord (employee
elected). The acting managing director of LINK is Rolf Maurseth.
The transactions are subject to certain conditions including approval under the
Norwegian Competition Act. Subject to the satisfaction or waiver of these
conditions, the closing of the transactions are expected to occur on 15
September 2015.
For further information, please contact:
Christian Nørgaard Madsen, CEO
Phone: +47 901 16 697
E-mail: christian.norgaard.madsen@multiconsult.no
Gaute Christensen, VP Communications
Phone: +47 911 70 188
E-mail: gaute.christensen@multiconsult.no
Mitra Hagen Negård, Head of Investor Relations
Phone: +47 95 79 36 31
E-mail: ir@multiconsult.no
ABOUT MULTICONSULT ASA
Multiconsult is a leading Norwegian multidisciplinary engineering consulting
firm, with more than 1 700 employees and 30 offices in Norway and abroad.
Multiconsult's home market is Norway, representing 92 per cent of 2014 operating
revenues. The Company focuses on six market areas: Buildings and Properties,
Transport and Infrastructure, Energy, Oil and Gas, Industry and Environment and
Natural resources. The Company has an operating history that spans more than a
century, with the inception of Norsk Vandbygningskontor in 1908. In 2014,
Multiconsult completed more than 8 000 projects for approx. 3 700 different
customers.