Inin Group AS: Completion of acquisition of Skyttermoen Anlegg

26 Sep 2024 07:39 CEST

26 September 2024 – Inin Power AS, a subsidiary of Inin Group AS, has completed
the acquisition of 100 percent of the shares in profitable and growing site
preparation contractor Skyttermoen Anlegg AS.

Reference is made to the stock exchange announcement dated 27 June 2024
regarding the transaction.

Skyttermoen Anlegg becomes part of Inin Power.

Skyttermoen Anlegg is a specialist site preparation contractor which provides
services within excavation work, drainage, cable trenches, high-voltage
networks, land development and project development. The company is based in
Hamar, Innlandet county, Norway, which is the same geographical region where
also Laje AS and other Inin Group subsidiaries are located. Skyttermoen Anlegg
has delivered revenue growth and positive operating results every year since
inception. In 2023, the company delivered revenues of NOK 69 million and an
operating profit (EBIT) of NOK 15 million.

TRANSACTION DETAILS
Inin Power AS acquires 100 percent of the shares of Skyttermoen Anlegg AS for a
total consideration of NOK 83 million on a cash and debt free and fully diluted
basis. The consideration will be settled 60 percent in cash and 20 percent in
shares in Inin Power AS and 20 percent in shares in Inin Group AS.

The share-based consideration has been settled today. In this connection, Inin
Group AS has today transferred 4,000,000 Inin Group treasury shares, valued at
NOK 4.15 each, to the former owners of Skyttermoen Anlegg AS. Following
completion of this transaction, Inin Group holds 6,309,141 own shares.

Further, half of the cash-based consideration has been settled at closing on 25
September 2024, while the remaining amount will be settled after Skyttermoen
Anlegg’s annual accounts for 2024 have been approved. The second part of the
cash settlement is based on Skyttermoen Anlegg achieving a minimum EBIT of NOK
16 million in 2024. The cash amount paid at closing was funded with proceeds
from the bond tap executed by Inin Group on 4 July 2024.
(ENDS)

For further information, please contact:
Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS
Inin Group is a listed investment company operating as an industrial owner with
investments in companies within infrastructure and industry services niches in
the Nordics. The group create value by identifying investment opportunities
within profitable niches with potential for development, consolidation and
growth, working in collaboration with the platform companies to deliver
sustainable growth and superior profitability. For more information, please
visit: www.inin.no

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