Per Aarsleff Holding has successfully finalized the acquisition of a majority stake in Trym Anlegg, a prominent Norwegian railway specialist, integrating the organization into the Aarsleff Rail Group. This strategic transaction represents a significant expansion of the group's footprint in the high-growth Norwegian infrastructure market, particularly within the central region. The acquisition is structured to include an initial majority interest, with a definitive path to full ownership by 2027 based on book value assessments. The strategic rationale for the move centers on the high degree of technical complementarity between the target's specialized railway capabilities and the group’s existing Norwegian operations. By establishing a strategic presence in Trondheim, the organization achieves crucial geographic diversity, allowing it to navigate the operational challenges posed by diverse terrains and climates. The partnership is designed to leverage the group’s pan-Scandinavian engineering resources and procurement scale to bolster the target’s execution capacity for large-scale national railway investments. This integration reinforces the group’s standing as a leading technical enabler for modern transport infrastructure, ensuring long-term operational caliber across the Nordic rail corridor.

TRYM ANLEGG, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGINcurrently observed in the Construction & Real Estate sector.

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