Kungsleden divests the remaining share of Nordic Modular Group to Inter IKEA Investments

Kungsleden divests its remaining share of Nordic Modular Group, corresponding to 34.5 percent of the shares in the company, to Inter IKEA Investments.

Henrik Jonsson, CEO Inter IKEA Investments AB, comments:
”Nordic Modular Group has developed positively during the past year and strengthened its position as a leading company on the market for modular buildings. We see a great potential in developing the company towards continued growth and good profitability.”

The transaction is subject to approval from the Swedish Competition Authority and is expected to be finalised no later than January 31, 2016.

About Nordic Modular

Nordic Modular conducts development, manufacture, sale and rental of relocatable buildings for professional customers in the Nordic countries. The typical use is offices, schools and preschools. Nordic Modular’s operation is run exclusively through its subsidiaries: Temporent, Flexator and Nordic Modular Leasing. Our vision is to lead the development of a Nordic market for modular buildings. Modular buildings are industrially manufactured sectional units made into finished rooms – floor, walls and roof elements are fitted together and then finished at the factory with a surface layer, permanent fixtures and installations.The modules are then transported to the building site, lifted into place and set up on a prepared foundation. The whole process takes anywhere from a few weeks to a couple of months. From 8 January 2015 Nordic Modular Group is owned by Inter IKEA Investments AB (65%) and Kungsleden AB (publ).

Read more: www.nordicmodular.com

Contact

Per Johansson, Managing Director Nordic Modular Group AB, tel +46 8 590 990 43

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