Consolis Group has entered into an agreement with the major shareholders to acquire a controlling interest of 50,01% in Spæncom A/S, a leading supplier of prefabricated concrete products in Denmark. Spæncom develops, designs, manufactures and assembles concrete elements and system solutions for residential, industrial and institutional construction.
Spæncom operates four production units in Denmark and a German production unit south of Berlin. In the 2006/07 financial year, the company generated net sales of EUR 107 million, and has approximately 750 employees.
Since its foundation in 1947, Spæncom has been known as the innovative supplier of concrete products. Spæncom has led the way in the development of new products and system solutions, and today Spæncom is a well-managed and successful company listed on the OMX Nordic Exchange Copenhagen.
“Spæncom has been a long-time target for our Group, which wanted to complement its leadership position in Finland, Sweden and Norway by a similar one in Denmark,” says Philippe Milliet, President and CEO of Consolis. “We are very glad to have reached an agreement with its main shareholders. We believe that all four Nordic subsidiaries will benefit from each other’s technical and market knowledge, while Spæncom will also have a chance to benefit from the vast array of concrete products manufactured in all Consolis Group business units.”
Peter Assam, CEO of Spæncom says: “We will become a member of a large European corporation, with inherent possibilities to cooperate with our new sister companies, and together further improve our operations in Denmark. In terms of organisational structure and financially we will retain our status as an independent unit.”
Consolis Denmark A/S (part of the Consolis Group) will make a voluntary public tender offer to all shareholders of Spæncom A/S. Through this voluntary public tender offer and according to the agreements signed with majority shareholders, Consolis will buy initially at least a controlling interest in Spæncom A/S. In addition, Consolis has entered with three major shareholders into call/put agreements. It is envisaged that they are exercised during the next two years after which Consolis would hold more than 90% of the shares.
The closing of the transaction is subject to approval from competition authorities.
Further information:
Philippe Milliet, CEO and President, tel. +33 607 78 18 96
Pertti Nupponen, Group Vice President, Scandinavian Branch, tel. +358 400 505 131
