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UBConnect joins the Transtema group

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19 December 2022 – Transtema Group AB has entered into an agreement to acquire 100 percent of the shares in the Norwegian telecom contractor UBConnect AS.

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-UBConnect is the market leader in Norway and has an ambition to become the market leader in the Nordics. With UBConnect, we obtain a comprehensive offering in Norway as well as a company that can contribute to our Nordic expansion plan. With long-term customer relationships, high quality, and competent management, UBConnect will be a valuable addition to the Transtema group. Together with Tessta Connect, which we bought in spring 2022, we are now a leading player in Norway, says Henning Sveder, CEO of Transtema Group.

Transtema is one of the Nordic region's leading companies within design, construction, operation and maintenance of communication networks as well as network equipment and technical consultancy services for telecommunications operators, city networks, authorities, power companies and larger companies. Transtema was established in 1997 and today has operations in both Sweden and Norway. The group has 1,100 employees and is listed on the Stockholm Stock Exchange.

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UBConnect builds networks for all mobile operators in Norway. The company takes overall build-out responsibility and covers the entire value chain, including project planning and management, telecom design, material/logistics and documentation. UBConnect has 230 employees and is headquartered at Fornebu outside Oslo.

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-UBConnect’s development has been fantastic in recent years, and we see great advantages in becoming part of Transtema in order to take the next step in the company's development and expansion in the Nordics. With support from Tramstema, we can further expand our service offering. Demand for UBConnect's services is growing outside Norway. By becoming part of the Transtema group, we will be able to develop fully-fledged delivery models in other Nordic countries in the fastest and most efficient way possible, says Lasse Bjørgan, CEO of UBConnect.

Teaming up with Tessta Connect

Through the transaction, UBConnect becomes part of the same group that owns the telecom contractor Tessta Connect AS.

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-Tessta Connect is particularly strong at building fiber networks, while UBConnect is a preferred supplier for building cellular networks for the Norwegian operators. The combination of the two companies will enable the Transtema Group to deliver an even more complete service offering and increase its own competitiveness as a total supplier to the Norwegian fiber and mobile market, adds Lasse Bjørgan.

Bjørgan will continue to lead UBConnect, which expects revenue of NOK 440 million in 2022, an increase from NOK 296 million in 2021.

The transaction
Transtema acquires 100 percent of the shares in UBConnect for an initial consideration of NOK 94 million, followed by potential additional payments worth up to NOK 108 million, depending on UBConnect’s financial results during the next four years. 

The sellers of UBConnect are Ditlef de Vibe's investment company Avant Venture Capital AS, Trym Skeie's investment companies Skeie Kappa Invest and Skeie Capital Investment, as well as various members of UBConnect's group management.

The parties expect to complete the transaction during January 2023.

For further information, please contact:
Lasse Bjørgan, CEO of UBConnect, tel: +47 982 59 250

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