Vestum, through subsidiary GGAL Group, acquires specialist company in glass and aluminium lots with sales of SEK 50.5m, EBITDA of SEK 15.8m and EBITA of SEK 13.9m2022-01-20
Vestum AB (publ) ("Vestum") has through subsidiary GGAL Group AB agreed to acquire 100 percent of the shares in NA Altanglas AB ("NA Altanglas"). The purchase price will partly be financed through payment in reverse, which will then be set off against 271,555 shares in Vestum through offset issues. This will result in a dilution of approximately 0.1%. In the fiscal year of 2021, NA Altanglas generated sales of SEK 50.5m with an EBITDA of SEK 15.8m and EBITA of SEK 13.9m, corresponding to an EBITDA margin of 31.3 percent and EBITA margin of 27.5 percent. About NA Altanglas
NA Altanglas was founded in 1990 and supplies glass and aluminum products with a focus on sliding and folding sections, doors, conservatories, windows and facade systems. The company is mainly active in southern Sweden.
In the fiscal year of 2021, NA Altanglas generated sales of SEK 50.5m with an EBITDA of SEK 15.8m and EBITA of SEK 13.9m, corresponding to an EBITDA margin of 31.3 percent and EBITA margin of 27.5 percent.
The company has 14 employees and is headquartered in Bromölla.
All figures referenced are in accordance with the IFRS standards applied by Vestum and are unaudited.
NA Altanglas' financials are expected to be consolidated into GGAL Group from Q1 2022, provided that the indicative timetable for the completion of the acquisition can be followed.
Comments from Stefan Persson, CEO of GGAL Group:
It is with great pleasure that we welcome NA Altanglas to the GGAL Group! We have followed the company for a long time and are now strengthening our market position in southern Sweden and once again showcase our ability to grow through acquisitions. NA Altanglas has been on the market for over 30 years and the management team in Niklas and Rasmus Svensson will contribute with great knowledge and a broad network to GGAL Group. We now look forward to continuing to deliver on our strategic plan and consolidating the market, says Stefan Persson, CEO of GGAL Group.
About the transaction
The purchase price will partly be financed through payment in reverse, which will then be set off against 271,555 shares in Vestum through offset issues. This will result in a dilution of approximately 0.1%. The subscription price has been determined via a ten-day volume-weighted average price ("VWAP") in Vestum's share during the period 5 January 2022 up to and including 19 January 2022. The seller has undertaken not to sell the subscribed shares for a period of 24 months ("lock-up").
The number of outstanding shares would increase in connection with the Transaction from the existing 353,243,220 to 353,514,775 shares.
The above information on dilution and number of shares is based on previously announced offset issues.
Completion of the acquisition
The transaction is expected to be completed within approximately two weeks. In connection with the completion of the transaction, the Board, backed by an authorization of the Annual General Meeting, will make a formal decision to issue the shares in the offset issue.
Adviser
Svalner provides financial advice and Qap Legal acts as legal adviser to Vestum in connection with the acquisition. For additional information, please contact:
Conny Ryk, CEO of Vestum AB (publ)
Phone: +46 70 775 53 10
E-mail: [email protected]
The following documents can be retrieved from beQuoted
Press-release-20220120.pdf About Vestum
Vestum is a Swedish acquisition-driven company focused on acquiring and developing specialist companies within the construction services and infrastructure industries. Vestum is actively looking for high-quality companies with proven business models, strong market positions and predictable cash flows where Vestum can be involved and contribute to continued positive development.
For additional information, please visit: www.vestum.se
Vestum's share is traded under the short name VESTUM on Nasdaq First North Growth Market and the company's Certified Adviser is G&W Fondkommission: phone: +46 (0)8 503 000 50, e-mail: [email protected].
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