The Swedish Competition Authority has approved Cramo’s acquisition of the Swedish-based Nordic Modular Group Holding AB (“Nordic Modular Group”), which entails that the transaction can be completed.
As announced on 26 June 2018, Cramo has signed an agreement to acquire Nordic Modular Group from Strukturfonden HC11 AB, a subsidiary of Nalka Invest AB, and certain minority shareholders. The transaction was subject to merger control clearance from the Swedish Competition Authority. Cramo expects the transaction to close at the end of October 2018.
The acquisition of Nordic Modular Group is fully in line with Cramo’s Shape and Share strategy. It will strengthen Cramo’s Modular Space business (Cramo Adapteo) on the overall Nordic modular space market by bringing inhouse development and production capabilities and therefore supports Cramo’s ambitions to grow profitably and increases latitude in exploring strategic alternatives for the Modular Space business. In addition, the transaction expands company’s business model and enables the development of new products and customer solutions.