HMB is a successful construction company, established in 1994, with roots in Dalarna, Sweden. HMB is involved in both commercial and residential construction under all types of contracts in the market. HMB has operations in Stockholm/Mälardalen and Dalarna, Västmanland, Uppland and Gästrikland. All of the owners are active in the business. In 2017 HMB’s revenue was SEK 1,300 million with an operating margin of 7.7 %.
The acquisition of HMB is an important step in AF Gruppen’s ambition to grow in Sweden.
The agreed value of the transaction for 100 % of the shares is SEK 600 million on a debt-free basis. Payment will be in the form of shares in AF Gruppen ASA and cash.
HMB will become a subsidiary of AF Gruppen Sverige AB, where AF Gruppen’s Swedish operations are organised. Other Swedish AF companies include AF Bygg Göteborg, AF Bygg Syd, AF Projektutveckling, Kanonaden Entreprenad with subsidiaries, AF Härnösand Byggreturer and Pålplintar.
The transaction is subject to due diligence as well as the necessary executive decisions. The transaction is expected to be completed in Q1 2019.