Nobina enters into agreement to acquire De Blaa Omnibusser

Nobina has entered into an agreement to acquire the public transport company DBO Busser Holding A/S “De Blaa Omnibusser” in Denmark. The acquisition encompasses a business with approximately 65 buses and 225 employees in tendered regular services in north Zealand. The total purchase price amounts to a fixed consideration of DKK 210 million on a cash and debt-free basis. The acquisition is in line with Nobina’s strategy to grow in the Nordic market and the transaction will add three new contracts with annual sales of about DKK 160 million.

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Nobina signed an agreement today to acquire De Blaa Omnibusser in Denmark. The purchase price of DKK 210 million on a cash and debt-free basis will be paid in cash on the date of the transfer of holdings.

Nobina’s operations in Denmark are currently concentrated to Zealand where the acquisition of De Blaa Omnibusser will strengthen Nobina’s market share and improve Nobina’s opportunity to provide qualitative and scalable bus solutions to society and customers. De Blaa Omnibusser is a privately-owned public transport company with a profitable contract portfolio that extends until 2026.

Over the past five years, De Blaa Omnibusser has demonstrated stable sales and profitability with an average EBT margin of approximately 16 per cent. The company reported sales of DKK 158 million in 2017. The acquisition will create growth and is expected to make a positive contribution to the Group’s earnings and margin from takeover. The acquisition is scheduled to be finalised in the fourth quarter.

“Denmark is a key market for us and this acquisition is aligned with our growth strategy in the Nordic market. It strengthens our market share and broadens our offering and our ability to provide smart bus solutions to our clients,” says Magnus Rosén, President and CEO of Nobina.

“We are pleased to have reached this agreement with Nobina, an established and long-term operator in the Nordic region. Nobina’s strong values and capacity to develop both employees and operations have been important in this process,” says Lars Bender, CEO of De Blaa Omnibusser.

“The development of public transport in Denmark is accelerating – as are demands from our customers. The acquisition will provide security for both employees and passengers and I am looking forward to welcoming our new colleagues to Nobina and working together to continue to develop public transport and accessibility,” says Niels Peter Nielsen, Managing Director of Nobina Denmark.

This information is such that Nobina AB (publ) is obligated to publish in accordance with the EU Market Abuse Regulation. The information was published, through the agency of the contact persons mentioned below, on 31 October 2018, at  4.00 p.m.

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