NYAB signs letter of intent to acquire marine construction company
01.03.24NYAB has signed a Letter of Intent ("LOI") regarding the acquisition of Dyk & Anläggning Stockholm AB, a company specializing in underwater and marine construction operations throughout Sweden. The purchase price amounts to SEK 26 million, of which SEK 13 million will be paid as cash consideration and the remainder through a directed share issue to Dyk & Anläggning Stockholm AB's shareholders. The Letter of Intent was signed on February 29, and completion of the acquisition is subject to satisfactory Due Diligence review. Closing is expected to take place during the month of April.
The acquisition is in line with NYAB's strategy and growth targets and creates synergies with the company's existing operations. Through the acquisition, NYAB can strengthen its expertise in marine and underwater contracting. NYAB sees good business opportunities in the growing market of marine and coastal construction.
Dyk & Anläggning Stockholm AB has the majority of its operations in the Mälardalen region and on Gotland. The company carries out construction and repair of marine structures such as quays, wind turbines, ports and bridges. The company also offers consulting services in diving, documentation and environmental impact assessments. In the 2022 financial year, the company had a turnover of SEK 20 million with an operating profit margin exceeding 8 percent. The average turnover for the financial years 2018-2022 was SEK 26 million. For 2024, the company forecasts revenue and operating profit that are significantly higher than in previous years. The company is certified according to ISO 9001 and ISO 14001. The company has facilities in Visby and Stockholm.
"We see that Dyk & Anläggning will fit perfectly into the NYAB Group and strengthen our offering with their expertise. It provides strengthened competitiveness to carry out high-quality marine and coastal projects. We know each other well from previous collaborations and know that we have a common focus on customer satisfaction and high quality as well as share culture and values", says Johan Larsson, CEO of NYAB.
"We look forward to joining forces with NYAB to further develop our business. Our specialization and focus on customer satisfaction, cost-effectiveness and responsibility towards the environment and society matches well with NYAB's culture. In addition, NYAB has an impressive track record of profitable growth in all geographies and business areas, which makes them an excellent partner for us.", says Niklas Forsman, CEO of Dyk & Anläggning Stockholm AB
