Today, the Board of Directors of Beerenberg has unanimously decided to recommend its shareholders to accept the cash offer from Altrad Group at a price of NOK 41.5 per share. This implies a market capitalization of the company of more than one billion.
An ownership change is subject to 90 percent approval.
Beerenberg is doing well as a listed company, as the history has shown. However,
if the transaction is completed, it offers new and exciting opportunities for Beerenberg and its employees.
– Being part of a very large international group will give us access to both technology and know-how to continue our development and strengthen our industrial services and products for our clients worldwide, says Arild Apelthun.
An acquisition of Beerenberg would be consistent with Altrad’s strategy of acquiring and successfully integrating quality businesses.
– The interest from Altrad in Beerenberg is a testament to the significant effort employees of Beerenberg has done over the years. Being part of a larger group like Altrad, with access to resources and personnel, will enable us to provide even better customer experiences going forward, says Apelthun.
Altrad already owns Linjebygg inn Molde. - Linjebygg will be a sister company that we will cooperate with and of course we’ll see how that develops in the future, says Arild Apelthun.
About Altrad
Altrad is a world leader in the provision of industrial services, delivering value-added solutions principally for the energy, power generation, process, oil & gas, environment and construction sectors. It is also a recognized leader in the manufacturing of equipment dedicated to the Construction & Building market. Altrad’s multidisciplinary services range from engineering and technical services to maintenance, access solutions and specialized services for large enterprises. The company has affiliates in more than 55 countries in Europe, Australia, the Americas, Middle East, Africa and Asia, and derives sales from more than 100 countries. Altrad was founded in 1985 by Mohed Altrad, who indirectly owns 97% of Altrad. The company generated sales and EBITDA of €5.3 billion and €674 million, respectively, for the fiscal year ended 31 August 2023.