Triton acquires majority stake in Infratek

Triton will acquire 48,727,224 shares at a price of €1.74 (NOK 14) per share, valuing the total share capital in Infratek at €111m (NOK 894m). Based on the number of shares acquired at a cost of €1.74 each, the total transaction is valued at €84.7m.

The completion of the purchase is subject to approval from the competition authorities in Norway and Sweden. The transaction will be carried out upon approval, likely in early August 2013.

Following the deal, funds advised by Triton will make a mandatory offer to acquire all Infratek shares at an offer price of €1.74 (NOK 14) per share.

The agreement does not include any requirement for a full takeover. Further details of this offer will be announced at a later date.

Company
Based in Olso, Infratek is active within the building, operating and securing of critical infrastructure.

The group offers services for power grids, railway systems, fibre networks, district heating, public street lighting and technical high security solutions.

Infratek has approximately 1,700 employees in Norway, Sweden, Finland and Denmark. In 2012, it reported a turnover of NOK 2.8bn. Infratek is listed on the Oslo Stock Exchange under the ticker code INFRA.

People
Peder Prahl is the director of Triton. Bjørn Frogner is the CEO of Infratek.

Advisers
Equity – Arctic Securities ASA (Corporate finance).

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