SkartaNYAB Plc acquires Power Forze AB and arranges a directed share issue
26.08.22SkartaNYAB Plc
COMPANY ANNOUNCEMENT
26 August 2022 at 09:30
SkartaNYAB Plc acquires Power Forze AB and arranges a directed share issue
SkartaNYAB Plc, builder of a clean future, acquires all shares in a Swedish company Power Forze AB. Purchase price for the shares is 38.5 million SEK, of which 8.5 million SEK will be paid as a cash consideration and the remaining by arranging a directed share issue for Power Forze AB’s shareholders. The acquisition has no significant impact on this year’s revenue and result of SkartaNYAB.
4,006,400 new shares in SkartaNYAB Plc will be issued in the share issue directed to Power Forze AB’s shareholders. Subscription price per share is 0.72 euros and it will be paid as an in-kind consideration with shares in Power Forze AB. With the directed share issue, total number of shares in SkartaNYAB Plc will increase to 706,658,238 shares, of which the new shares constitute 0.57 percent. Closing of the share issue is targeted to take place by the end of August, after which the new shares will be registered in the Finnish Trade Register and applied for trading on Nasdaq First North Growth Market Finland without undue delay.
Power Forze AB is a company that operates particularly in Northern Sweden and offers services regarding power installations for industry and wind power, as well as construction and maintenance of electric grids. The company was founded in 2020 and all owners hold key positions within the company. Revenue of the company for the financial year 2021 was 6.2 million euros and the operating profit 0.4 million euros. Estimated revenue of the company for 2022 is 8.4 million euros and the operating profit 0.5 million euros.
"Due to significant ongoing industrial investments in Northern Sweden, there is an essential need to increase energy production both by new sources of energy and by strengthening the infrastructure. Through the acquisition of Power Forze AB, we can strengthen our position in the value chain of energy construction in growing markets, and we also expect a margin increasing effect on our current core industry”, says Johan Larsson, CEO of SkartaNYAB Plc.
Contacts
- Johan Larsson, CEO, SkartaNYAB Oyj, +46 (0)70 182 5070, johan.larsson@nyabab.se
About SkartaNYAB Oyj
SkartaNYAB is a builder of a clean future with decades of experience in complex and demanding projects. Our strategy is based on a strong competence and expertise in specialized construction, and we aim at expanding our activities in the value chain of wind power, solar energy and hydrogen solutions towards the development, construction and ownership of overall projects in clean energy, where we see excellent growth potential. SkartaNYAB is headquartered in Oulu and it has more than 300 employees at different locations in Finland and Sweden.
SkartaNYAB Plc's Certified Adviser is Augment Partners AB, info@augment.se, phone +46 8 604 22 55.
