Relais Group Oyj (HLSE:RELAIS) acquired Norwegian workshop equipment business unit from NDS Group AS for NOK 87 million on August 1, 2023. Relais Group has acquired Norwegian workshop equipment business unit comprising the assets and personnel of the AutoMateriell business and an unknown minority stake in Nordic Lift AS. The provisional purchase price is approximately NOK 58 million and additional consideration of up to approximately NOK 29 million will be payable based on financial performance for the full year 2023. The acquisition will be financed with existing cash reserves. In 2022, total revenue of the business unit was approximately NOK 198 million and the operating profit approximately NOK 13 million. Danske Bank acted as financial advisor to NDS Group.

Relais Group Oyj (HLSE:RELAIS) completed the acquisition of Norwegian workshop equipment business unit from NDS Group AS on August 1, 2023.