Nov 07, 2016

NRC Group acquires Gravco

NRC Group ASA ("NRC Group" or the "Company") has today entered into an agreement for the acquisition of Gravco AS and Septik Tank Co AS (together "Gravco") from Imseth Holding AS.

Gravco is a leading water and wastewater entrepreneur in the Oslo area. The acquisition of Gravco will strengthen the Company's position for projects related to the tram and metro systems in Oslo. The Oslo tram system will undergo a major upgrade triggering a number of contracts with start-up from 2017 in order to prepare for delivery of new tram wagons in 2021. The city of Oslo will in parallel with the tramline upgrades, renew water and wastewater lines.

"We are very excited about joining forces with the Gravco-team, and believe our end-to-end setup can make a big difference when it comes to renewing the tram-system in Oslo", says CEO Øivind Horpestad in NRC Group.

NRC Group will acquire 100% of the shares in Gravco for an enterprise value of NOK 75.0 million. The acquisition will be financed by payment of NOK 30.0 million in cash upon closing, by issuance of NOK 30 million in 441,988 new shares in the Company and NOK
15.0 million as a seller's credit. The seller of Gravco has guaranteed a minimum EBITDA in each of 2016 and 2017 of NOK 15.0 million. The transaction is expected to be completed by end of November.

For more information about Gravco and the acquisition, please refer to the attached extended stock exchange release.

NRC Group will further elaborate on the acquisition of Gravco and present its Q3 2016 report tomorrow, 8 November 2016, and invites investors, analysts and media to attend a presentation at Arctic Securities at 11:00 CET.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contact us

Henning Olsen

Henning Olsen

CEO

+47 91 74 15 92

henning.olsen[at]nrcgroup.com

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