27 March 2025 - HAB Construction AS ("HAB"), a wholly owned subsidiary of Endúr
ASA ("Endúr"), has acquired parts of the bankruptcy estate of civil engineering
contractor Topaas & Haug AS ("Topaas & Haug").
Topaas & Haug ("The Company") was established in Bærum municipality outside Oslo
in 1954. The Company specializes in groundworks, such as excavation, drainage,
trenching and blasting, road construction and municipal infrastructure projects,
water and wastewater infrastructure, and concrete and civil structures.
HAB has acquired parts of The Company's operating assets from the bankruptcy
estate for NOK 8.5 million. This includes plant and equipment, lease agreements,
and a number of contracts for on-going customer projects, which are already
being continued and executed. The acquired projects represent an order backlog
of approximately NOK 20 million.
"Topaas & Haug is a well-reputed contractor, known in the industry for
delivering high quality work. Our plan is to apply our proven methodology for
pricing, project management and cost control. Through this, we see a clear
potential to improve profitability, as we have demonstrated in similar
situations before", says Jeppe Raaholt, CEO of Endúr.
"This acquisition is a good strategic fit for HAB. It strengthens our presence
in the Oslo region and adds experienced people, solid customer relationships and
an attractive project portfolio. We are pleased to already have the projects up
and running and to welcome new colleagues into the organization," says Christian
Tanum, General Manager of HAB.
Nine employees from Topaas & Haug joined the Endúr group today, including
General Manager Kristian Haug - the grandchild of The Company's co-founder.
The Topaas & Haug name will be retained as part of a newly established legal
entity, which will become a wholly owned subsidiary of HAB. Kristian Haug will
continue to lead The Company.
Topaas & Haug's soil production operation in Asker is not part of the
transaction.
(ENDS)
For further information, please contact:
Jeppe Raaholt, CEO Endúr, tel: +47 976 69 759
About Endúr ASA:
Endúr ASA (XOSL: ENDUR) is a leading Scandinavian contractor headquartered in
Lysaker and listed on the Oslo Stock Exchange. The company specializes in
critical infrastructure, including bridges, quays, tunnels, and dams. Operating
as a disciplined serial acquirer (compounder), the group utilizes a
decentralized model that grants subsidiaries high autonomy to preserve their
technical expertise and local market positions. Endúr drives long-term value
through strategic platform acquisitions and targeted bolt-ons in fragmented
niche markets.