Ratos acquires majority stake in Hent for NOK 310m

Hent was hitherto owned by Norwegian housing developer Heimdal Gruppen (36%), the company's management (22%) and a number of financial investors (Bergan AS, Nordenfjeldske Management AS, Consensus Invest AS and Karpus AS).

Heimdal Gruppen, together with a number of financial investors, will sell their shares to Ratos as part of the transaction. The company's management will increase its holding to approximately 27% in connection with this transaction.

Ratos will invest around NOK 310m in equity. The purchase price for 100% of the shares amounts to approximately NOK 725m.

The acquisition is subject to approval from the relevant authorities and is expected to be completed in Q3 this year.

Ratos had followed Hent for a while prior to the deal, and exclusive discussions started a few months ago. The GP plans to support the company in its future growth.

Company
Hent is a Norwegian construction company, primarily developing new construction of public and commercial properties.

The company focuses on project development as well as project management and procurement, and the projects are mostly carried out by a broad network of sub-contractors.

Sales in 2012 totalled close to NOK 2.9bn with an EBITA of NOK 98m. The company has nearly 490 employees.

People
Susanna Campbell is the CEO of Ratos.

Advisers
Equity - DLA Nordic (Legal); Deloitte (Financial due diligence); Arkwright (Commercial due diligence).

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