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Press release

2022-02-18 08:00 CET

Green Landscaping Group acquires the Norwegian landscaping company Glenn Syvertsen AS

18 February 2022, 08:00 CET Green Landscaping Group AB (publ) has acquired Glenn Syvertsen AS with a turnover of approximately NOK 35 million. With the completion of the transaction, Green Landscaping Group, has made its 10th acquisition in Norway.

Glenn Syvertsen AS is a company with a history from 2011 and has over the past 3 years experienced strong growth in the market around Oslo. Through quality deliveries, the company has developed with its customers and the company is expected to continue its growth in the coming years.

- We have followed the company for a long time and in recent months, contacts have become more frequent. We now thought that the time was here for both Green Landscaping Group and the company to complete the deal. We have great faith that a bright future lies ahead for the company and founder Glenn Syvertsen as part of our group consisting of the world's best entrepreneurs, says Atle Roll-Matthiesen, Regional Manager Norway, Green Landscaping Group.

- I have got a very good impression of what Green Landscaping Group is achieving and based on the collection of quality companies in the group, the decision was easy for me. I am convinced that our new environment will help the company to develop, says Glenn Syvertsen, Managing Director, Glenn Syvertsen AS.

- We welcome the owners Glenn and Marcus as well as their employees to Green Landscaping Group, Atle Roll-Matthiesen, Regional Manager Norway concludes.

Green Landscaping Group acquires 100 percent of the shares in Glenn Syvertsen AS with immediate access. The acquisition is financed within existing credit facilities and through a non-cash issue of own shares. The Board has therefore, within the scope of the authorization from the Annual General Meeting on 14 May 2021, decided to issue 72,333 shares in Green Landscaping Group, aimed at the sellers of Glenn Syvertsen AS. This corresponds to a dilution of 0.1% of the share capital and votes in Green Landscaping Group. The total number of shares in Green Landscaping Group after the issue are 53,214,964 shares.

The previous owners of Glenn Syvertsen AS are now shareholders in Green Landscaping Group.

The information was, through the contact person below, submitted for publication on 18 February at 08:00 CET.