Fasadgruppen Group AB (publ) (OM:FG) agreed to acquire 60% stake in Elenta As on February 13, 2024. Elenta has 17 full-time employees, and for the financial year 2023, its revenues amounted to approximately NOK 24 million. Fasadgruppen acquires 60 percent of Elenta with an option to buy the remaining 40%.

Fasadgruppen is using existing cash to finance the acquisition. The seller has undertaken to reinvest part of the purchase price by acquiring existing shares in Fasadgruppen within the three months following completion for an amount corresponding to approximately NOK 70.5 million. The shares bought under the re-investment are subject to a lock-up commitment for 60 months.

The acquisition of Elenta is expected to be completed in the first half of 2024.