Momentum Group AB (publ) (OM:MMGR B) entered into an agreement to acquire 93.7% stake in Askalon AB from PEAB Process AB for SEK 267 million on May 22, 2023. The purchase price for 100 percent of the shares is SEK 240 million of enterprise value. The consideration will be financed through existing credit facilities.

Askalon will continue to operate as an independent subsidiary and competence center under the current management and be part of the Specialist area. Askalon had sales of SEK 317 million in 2022. The closing of transaction is expected to take place in early June 2023.

Mats Dahlberg of Advokatfirman Delphi KB acted as legal advisor to Momentum Group AB (publ) (OM:MMGR B).