ÅF Advansia AS acquires Kåre Hagen AS

Kåre Hagen AS was established in 1961 and focuses on project management and construction management for public sector clients (hospitals, schools, airports, etc.) in the Oslo region.

Kåre Hagen AS has 75 employees and a turnover of NOK 100 million for the current year, along with good profit margins.

The acquisition of Kåre Hagen will further strengthen ÅF’s Infrastructure Division as well as the Project Management business area, which is one of the leading market participants in Norway within its field with over 200 qualified specialists.

ÅF Advansia and Kåre Hagen AS already know each other well as a result of ten years’ collaboration, including on the project management of the renovations and expansion currently being undertaken at Oslo Airport in Gardermoen.

A purchase price of NOK 60 million has been agreed upon, with an extra assessment of a maximum of NOK 56 million, based on trends in earnings for the period 2013-2015. The acquisition will be carried out following a review by the Norwegian Competition Authority, which is expected to take around three weeks.

The ÅF Group is a leading organisation within technical advisory services, with competence built upon more than 100 years’ experience. ÅF offers highly qualified services and solutions for industrial processes, infrastructure projects and the development of products and IT systems. The ÅF Group has 7,000 employees globally.