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Regulatory press release

Bellman Group completes acquisition of Ivarssons Entreprenad

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Bellman Group AB ("Bellman Group") has today completed the acquisition of Ivarssons Entreprenad i Göteborg AB ("Ivarssons Entreprenad") which was announced on December 11, 2020.

On December 11, 2020 Bellman Group entered into an agreement to acquire all shares in Ivarssons Entreprenad, an excavation and civil engineering company mainly operating in the Gothenburg region. The entire cash consideration of SEK 67.2 million has been paid today and Bellman Group has also carried out a directed new issue of shares with an aggregate subscription price of SEK 31.3 million to Ivarssons Entreprenad's previous owners, which after the new issue gives an ownership interest in Bellman Group of 3.0 percent.

Ivarssons Entreprenad will continue to operate as a subsidiary in the group and form an own operating segment alongside Bellmans, Uppländska, VSM, Samgräv and SÅCAB. Mikael Ivarsson, CEO of Ivarssons Entreprenad, will be part of Bellman Group's Group Management.

Andulf Advokat AB has acted as legal advisor and Deloitte has acted as financial advisor in connection with the acquisition.

For further information about the acquisition, please refer to the Company's previous press release dated December 11, 2020.

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