The combined company will be re-named Malthus Uniteam AS and will have 150 employees in six countries with sales in excess of NOK 1000 million. Mr Arild Ollestad, the current CEO of Malthus, has been appointed CEO of the merged company.
«Our combined team will improve innovation and product development which will enable us to offer better value and modern solutions to our customers. We aim to become the most innovative and profitable module- and container supplier in the Nordic region, with ambitions to grow internationally», says Mr Ollestad.
Demand is increasing for intermediate buildings and buildings that can be erected at short notice, in both public and private sectors alike. Both companies have already achieved international recognition for creative and innovative solutions within hospitals, care homes, short-term offices and accommodation for various industrial purposes and civil engineering projects.
Management believe Malthus Uniteam will have the right combination of competence and capital to continue growth in Norway, the Nordic region and internationally.
«Vi are proud to become co-owners in Malthus Uniteam together with Reiten & Co and the other shareholders. We are motivated by making local businesses into international players. To secure further profitable growth an IPO will be considered», says Mr Ståle Kyllingstad, CEO and owner of IKM Gruppen, who will become one of the main shareholders of Malthus Uniteam.
«Reiten & Co Captial Partners VI LP, a fund managed by Reiten & Co, has been a long term owner of Malthus with the aim of creating a competitive global supplier. Malthus Uniteam will be well positioned to grow further, and the owners share the vision of developing local businesses internationally», says Mr Bård Brath Ingerø, Managing Partner at Reiten & Co and chairman of Malthus Europe.
The merger is subject to final approval by the Norwegian Competition Authority.
Article from the Norwegian business newspaper, Dagens Næringsliv: https://www.dn.no/nyheter/2017/05/29/2049/Industri/kyllingstad-sikter-mot-bors-med-nytt-selskap
Article from bygg.no: http://www.bygg.no/article/1316015
- Expected sales in 2017 of NOK 670 million
- Malthus is a leading supplier of modular buildings in Norway with presence in Canada and the UK. Malthus is also a leading supplier of formwork and building equipment.
- Malthus offer both rental and sales of modular buildings.
- Expected sales in 2017 of NOK 360 million
- Uniteam is a significant supplier to the oil-offshore industry, contractors and public sector projects such as kindergardens, schools, care homes and hospitals. The group has presence in Norway, Sweden, Poland and China.
- Uniteam offers both rental and sales of containers and modular buildings.