2013-09-16 09:42:02 -
For further information:
Mats Påhlsson, Divisional President, Infrastructure Division +46 70 534 64 00
Viktor Svensson, Director, Corporate Information +46 70 657 20 26
ÅF has acquired 100 percent of the shares in Kåre Hagen AS, which is based in
Oslo, Norway. The company was established in 1961 and focuses on project
management and construction management activities for public sector clients
(hospitals, schools, airports, etc.) in the Oslo region.
Kåre Hagen has 75 employees and sales for the current year is estimated to total
approximately NOK 100 million with good profit levels.
The acquisition of Kåre Hagen further reinforces the strengths of the ÅF
Infrastructure Division and the business area for Project Management which is
one of the
leading players in its field in Norway with 200 highly qualified
specialists after the merger. ÅF Advansia and Kåre Hagen are already well
acquainted as a result of 10 years' collaboration, including the current project
management activities for the rebuilds and extension work taking place at Oslo
Airport in Gardermoen.
Agreement has been reached on a purchase price of NOK 60 million and an
additional consideration of a maximum of NOK 56 million, based on earnings
trends over the period 2013-2015. The acquisition will be completed after a
review by the Norwegian Competition Authority which is expected to take
approximately three weeks.
The ÅF Group is a leader in technical consulting, with expertise founded on more
than a century of experience. We offer highly qualified services and solutions
for industrial processes, infrastructure projects and the development of
products and IT systems. Today the ÅF Group has 7,000 employees. Our base is in
Europe, but our business and our clients are found all over the world.
Press release PDF:
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ÅF AB via Thomson Reuters ONE