SH-Bygg was founded in 2008 and has built a strong market position in the Oslo region with a focus on renovation of façades and balconies. The subsidiaries SH Tømmer and SH-Bygg Tegl complete SH-Bygg with services within carpentry and bricks. SH has 43 full-time employees, and for the financial year 2020, its revenues amounted to approximately NOK 74 million.

Johan Claesson, Business Area Manager Fasadgruppen West, said: “With SH-Bygg, Fasadgruppen strengthens its position in the Oslo region, which is the largest regional market in Norway. SH-Bygg has many qualities that we appreciate; an experienced leadership, extensive craftmanship skills and a strong local connection."

Jan Erik Pedersen, CEO of SH-Bygg, said: “We have followed Fasadgruppen’s expansion in Norway with great interest. It feels exciting to become part of the journey and continue to develop the market position of both SH and Fasadgruppen.”

Fasadgruppen is using available credit facilities and existing cash to finance the acquisition of all shares in SH. The seller has undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next five months for an amount corresponding to NOK 11 million. The shares bought under the re-investment are subject to a lock-up commitment until December 2022. The completion of the acquisition is not subject to any conditions, and SH will therefore immediately become part of Fasadgruppen.