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Press release

2022-10-07 08:00 CEST

Green Landscaping Group grows in Norway through the acquisition of H&K Sandnes AS

7 October 2022, 08:00 CEST Green Landscaping Group AB (publ) has today signed an agreement to acquire H&K Sandnes AS with a turnover of approximately NOK 140 million.

H&K Sandnes was founded in 1972 and is today a well-established company with healthy profitability and a long and successful history. The company offers complete groundwork services within infrastructure to both public sector customers and property developers, mainly in Vestfold and Grenland. The company employs approximately 50 employees and is based in Larvik, approximately 12 miles southwest of Oslo. The transaction also includes a majority ownership in the subsidiary No Dig Vestfold AS, which specializes in horizontal drilling in loose mass for water and sewage lines.

- H&K Sandnes is a solid company which, during 50 years of operations, , has built a strong brand within its field and assembled outstanding competence in groundwork services. Through its services, the company contributes to creating social benefits and through its focus on quality, working environment and customer satisfaction has created an efficient organization that is well equipped for the future. H&K Sandnes will further strengthen us as a group on the Norwegian market, says Atle Roll-Matthiesen, Regional Manager Norway, Green Landscaping Group. gather

- We are proud of our company and our history. Our customers and employees deserve the best and we are sure that the conditions for giving them the best increase with our entry into the Green Landscaping Group. We look forward to writing new history in a new context, says Rune Sandnes, Managing Director, H&K Sandnes

- We warmly welcome the owners Rune and Kåre Sandnes, Halvard Eikås and Klas Öyen and their employees to Green Landscaping Group, concludes Atle Roll-Matthiesen, Regional Manager Norway.

Green Landscaping Group acquires 100 percent of the shares in H&K Sandnes. The transaction is subject to the Competition Authority's approval and is expected to be completed during 2022.

The information was submitted for publication, through the agency of the below contact persons, on 7 October, 08:00 CEST.