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.
«We 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 Capital 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.
For further information, please contact Mr Arild Ollestad, +47 48402321 or firstname.lastname@example.org