Fasadgruppen acquires Mjøndalen Mur & Puss AS (”MMP”), one of Norway’s largest masonry companies with a strong market position in Oslo and surrounding areas.

Founded in 1986, MMP offers services in masonry, plastering and tiling. Work is carried out primarily for various well-established construction companies in new construction projects, but also in certain renovation projects. The company has 95 full-time employees, and for the financial year 2020, its revenues amounted to approximately NOK 180 million with an operating margin of 9%. MMP becomes Fasadgruppen’s second subsidiary in Norway after DVS Entreprenør, which was acquired in September 2020.  

Pål Warolin, CEO of Fasadgruppen, said: “Norway is a key market in our Nordic growth strategy, and we welcome MMP as another Norwegian quality company with skilled management to Fasadgruppen. With its focus on new construction, MMP is a great complement to DVS Entreprenør, which primarily engages in renovation projects. It has exhibited stable revenues and profitability for many years."

Robert Braathen, CEO of MMP, said: “Since our inception 35 years ago, we have built a strong position in the Oslo region with skilled craftsmen and returning customers. We believe that it is time to take the next step in our development, and it feels great to become part of the largest façade group in the Nordics. We look forward to cooperating with the other companies in Fasadgruppen, and in particular DVS Entreprenør to develop the Norwegian business.”

Fasadgruppen is using available credit facilities and existing cash to finance the acquisition of all shares in MMP. The sellers are a group of employees at MMP who will remain in their respective roles following the transaction. The sellers have undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next three months for an amount corresponding to NOK 19 million. The sellers have also undertaken to not divest their shares in Fasadgruppen before 30 April 2022. The completion of the acquisition is not subject to any conditions, and MMP will therefore immediately become part of Fasadgruppen.

For more information, please contact:

Pål Warolin, CEO of Fasadgruppen
E-mail: pal.warolin@fasadgruppen.se
Cell: +46 (0) 70-925 52 01

About Fasadgruppen

Fasadgruppen Group AB (publ) is the largest façade work company in the Nordics and the only nationwide complete provider of sustainable façades in Sweden. The foundation of the Company’s business is the entrepreneurial local units operating with a clear focus on cooperation, commitment and competence. Fasadgruppen is listed on Nasdaq Stockholm (ticker: FG). For more information, visit www.fasadgruppen.se.

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Fasadgruppen grows in Norway through the acquisition of Mjøndalen Mur & Puss AS

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