OSLO, NORWAY: Swedish marine infrastructure company Marcon-Gruppen i Sverige AB – a wholly owned subsidiary of Endúr ASA – has entered into an agreement to acquire 100% of the shares in Svenska Tungdykargruppen AB (STDG) from Storskogen Group AB.
STDG is a marine infrastructure company, located in Mora, Sweden, specialized within diving and dredging operations.
The primary purpose of the acquisition is to meet an increasing demand and secure increased capacities for Marcon’s existing and highly profitable service offerings.
“We have cooperated with STDG for many years and are highly familiar with the specialist competence they possess, their attractive asset base and skillful workers. We believe that we can significantly increase the utilization rate of these assets by making them part of Marcon’s wider group offering, thereby improving the revenue and earnings potential of the joint business,” says Jörn Ryberg, Chairman of the Board at Marcon.
Svenska Tungdykargruppen AB (STDG) earned revenues of approximately SEK 40 million in 2022 (estimated revenues in 2023 in range of SEK 40-50 million) and owns and operates several dredges and tugboats. The acquisition will be settled in cash in its entirety, with no external financing.
Marcon is a market leader within marine infrastructure in Sweden. The company performs a range of services connected to marine infrastructure construction and marine services, as well as other adjacent services including hydrographical services, dredging, rentals, inspections and diving.