Aarsleff buys Olimb Group

Per Aarsleff Holding A/S has entered into an agreement to acquire 51% of the Norwegian company Olimb Group’s pipe renewal activities. The structure of the transaction is that Aarsleff acquires 51% of the shares in a newly established company to which the current pipe renewal activities of Olimb Group will be transferred prior to the completion of the transaction. Also, it has been agreed that Aarsleff will get an option to buy the remaining shares at book value at the latest in 2022. The total price for 100% of the company is fixed at DKK 103 million.

Olimb has about 100 employees and generates revenue of approx. DKK 165 million. In 2016, the company had an operating profit (EBIT) of approx. DKK 13 million. Olimb has a leading position on the Norwegian market for trenchless pipe renewal, and the company is respected for being an innovative and serious specialist contractor working for public, industrial and private customers.

Press release Aarsleff