Storskogen Group AB (publ) (OM:STOR B) entered into an agreement to acquire a 80% stake in Thermica As for NOK 67.2 million on May 9, 2022. Under the terms, consideration will be paid with newly issued B-shares, new B-shares will be subject to a transfer restriction (so-called lock-up) for a period of six (6) months. As per update on May 31, 2022, Storskogen Group AB (publ) shall issue 3.69 million Class-B shares. For the year ended, 2021, Thermica reported turnover of NOK 526 million and operating income (EBIT) of NOK 42.8 million. Thermica has 13 employees, all the sellers are active in the Thermica and will remain in their current roles and as minority shareholders. The acquisition is conditional on approval from the Norwegian competition authorities and is expected to be completed during the second quarter of 2022. Leif Larsen of Translink Strempel & Co. Srl acted as financial advisor for Thermica AS.

Storskogen Group AB (publ) (OM:STOR B) completed the acquisition of Thermica AS on June 30, 2022.