Wästbygg Gruppen AB (publ) (OM:WBGR B) entered an agreement to acquire Rekab Entreprenad AB from Trekcyd Ab for SEK 230 million on September 24, 2021. The total acquisition price is SEK 230 million on a debt free basis, comprising a cash payment of SEK 147.2 million and SEK 82.8 million through the repurchase and transfer of Wästbygg shares. Anton Johansson, Chief Executive Officer of Rekab Entreprenad, will join the group management of Wästbygg Group when the acquisition is completed.

Rekab Entreprenad will retain its company name and operate as a sister company within the Wästbygg Group, together with Wästbygg AB and the niche company, Logistic Contractor AB. Rekab reported a revenue of SEK 1 billion. The acquisition is conditional on approval by the Swedish Competition Authority, while financing of the acquisition is subject to approval by the General Meeting of the Wästbygg Group regarding the repurchase and transfer of its shares.

The value of the consideration shares is based on the volumeweighted average price ten trading days before the effective date. The acquisition is expected to be finalized at the end of October/beginning of November 2021.