ININ Group AS: SPA signed to acquire critical infrastructure specialist

10 Jul 2025 14:26 CEST

10 July 2025 – Inin Group’s subsidiary Skyttermoen Anlegg AS (part of Qben
Power) has today signed a share purchase agreement to acquire 100 percent of the
shares in Norway-based Jan Erik Hagelund AS – a specialist contractor within
critical infrastructure.

The acquisition is strategically important for strengthening the group's
offering within energy and infrastructure projects. Jan Erik Hagelund AS will
complement Skyttermoen Anlegg AS, enhancing capacity, competence, and delivery
capability in a market with increasing demand for complex infrastructure
solutions.

ABOUT JAN ERIK HAGELUND AS
Jan Erik Hagelund AS is a specialized concrete contractor with over 35 years of
experience in complex projects for critical infrastructure, including energy,
water supply, and transportation. The company has established itself as a solid
and reliable partner on projects for key public and private stakeholders. Jan
Erik Hagelund AS will continue to operate as a separate unit, and the current
management will remain with the company to ensure continuity and further
development.

TRANSACTION DETAILS
Jan Erik Hagelund AS is valued at NOK 28 million in the transaction. The
valuation is based on a guaranteed EBIT for 2025 of NOK 5.6 million, reflecting
a multiple of 5. The transaction will be settled with NOK 10.5 million in cash
and NOK 7 million in Qben Infra shares at closing, and a final payment of NOK
10.5 million in cash 30 days after the approval of the audited financial
statements for 2025.
The transaction is expected to be completed during the third quarter of 2025 and
is subject to standard closing conditions.

ININ Group AS is listed on Euronext Growth Oslo. The company’s majority
shareholder, Qben Infra AB, is listed on Nasdaq First North Premier Growth
Market in Stockholm, Sweden.
(ENDS)

For further information, please contact: Patrik Egeland, CFO and IR-contact Qben
Infra Email: patrik.egeland@qben.se

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

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