Bellman Group completes acquisition of Bröderna Öhman

Bellman Group AB (“Bellman Group”) has today completed the acquisition of Bröderna Öhman AB which was announced on June 10, 2022.

On June 10, 2022, Bellman Group entered into an agreement to acquire all shares in Bröderna Öhman, a company in northern Norrland with a comprehensive range of services in contracting, excavation, crushing, rock blasting, road and railway construction and mass handling. The acquisition was conditional on the Swedish Competition Authority’s approval, which has been received and the entire cash consideration of SEK 165.6 million has been paid today. The owners of Bröderna Öhman reinvest 40 percent of the purchase price, which gives an ownership share in Bellman Group’s owner company of 8.4 percent.

Bröderna Öhman will continue to operate as a subsidiary in the group under the leadership of Thomas Öhman. The company will form its own operating segment alongside Bellmans, Uppländska, VSM, Samgräv, SÅCAB, Ivarssons, Norrvidinge and Holmgrens.

Andulf Advokat AB has acted as legal advisor and Deloitte has acted as financial advisor in connection with the acquisition.

For further information on the acquisition, please refer to the press release dated June 10, 2022.

This disclosure contains information that Bellman Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 06-07-2022 13:00 CET.