Transtema Group acquires UBConnect

PROJECTMANAGER

Morten Rye Pedersen

MANDATE

Buyside

INDUSTRY

Construction

HVAC & Electrical Installation

Transtema Group AB has concluded an agreement to acquire 100% of the shares of UBConnect AS.

PROJECTMANAGER

Morten Rye Pedersen

MANDATE

Buyside

INDUSTRY

Construction

HVAC & Electrical Installation

Transtema Group AB announced on 19 December 2022 that the company has signed an agreement to acquire 100% of the shares of UBConnect AS at an initial purchase price of about NOK 94 million and potential an additional payment in the maximum amount of NOK 108 million based on future financial performance.

UBConnect provides mobile telecommunications network design, installation and upgrading services. The company has 270 employees and is headquartered in Oslo. The company will have revenues of about NOK 440 million in 2022, with EBITA of about NOK 30 million. UBConnect management will continue to manage the company and will play a central role in the future development of Transtema’s mobile telecommunications network services. UBConnect complements the service range of Transtema and is an excellent fit that will further Transtema’s goal of becoming a full-range mobile telecommunications network service provider in Norway, with additional potential in the development and operation of mobile telecommunications networks in the Nordics.

Transtema is a leading Nordic provider of communications network design, construction, operation and maintenance services to telecommunications operators, fibre optics companies, public sector bodies, power companies and other major businesses. Transtema was established in 1997 and has since then grown into a full-scale service provider in Norway and Sweden, with more than 1,200 employees across almost 100 locations. The proforma revenues of the Transtema Group will be SEK 2,900 million (based on Q3 2022 figures) after completion of the UBConnect acquisition.

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