Nobina Acquires Samtrans

STOCKHOLM, June 14, 2018 /PRNewswire/ -- Nobina signed an agreement today to acquire the leading player in special public transport services in the Stockholm market, Samtrans Skol- och Handikapptransporter Stockholm AB ("Samtrans"), from TransportIT Group AB. The acquisition encompasses Samtrans' entire operations, including the brand and contract portfolio. In 2017, the company reported total annual sales of SEK 746 million, and the majority of its contracts will extend until 2020. The acquisition is in line with Nobina's strategy to expand its business in public transport and to develop its offering to both society and customers. The purchase price comprises a fixed consideration of SEK 225 million and a potential additional consideration of up to SEK 225 million. The acquisition, which is conditional on the approval of the Swedish Competition Authority, is expected to be concluded in the third quarter of 2018.

Samtrans is currently the leading expert and operator in special public transport in Stockholm County. The company performs, administrates and coordinates travel for individuals with special needs and school transport services. Public transport using specialised vehicles is often essential if individuals with special needs are to remain mobile in society and have a functioning daily life.  

Samtrans' clients are primarily in the public sector in Stockholm County. The acquisition includes approximately 100 employees in administration and order booking, with operations being conducted as a subsidiary of Nobina Sweden. Samtrans' passenger transportation is carried out by some 175 affiliated passenger carriers with their own vehicles and drivers – all with collective agreements. These contracts will continue as usual. The acquisition is not expected to affect Samtrans' daily operations, employees or customers.  

Following several years of solid growth, Samtrans reported sales of SEK 746 million, distributed between 24 contracts, and profit before tax of SEK 106 million in 2017. The acquisition will create growth and is expected to make a positive contribution to the Group's earnings and margin from the outset.  

"The acquisition of Samtrans will strengthen Nobina's strategic market position with clear synergies to expand the contract market and create the conditions for offering qualitative comprehensive solutions in the Nordic market," says Magnus Rosén, President and CEO of Nobina AB.  

"The acquisition provides a basis for Samtrans to continue to grow and will enable us to use the combined pool of knowledge to develop personnel, quality and contractual models for both customers and society," says Jan Bosaeus, MD of Nobina Sweden. 

"We are pleased to have reached this agreement with Nobina. It feels good to pass on the baton to an established and long-term operator with strong values that will continue to develop the business, employees and quality for Samtrans' customers," says Leif Zetterberg, Chairman of the Board of TransportIT Group.  

The purchase price comprises a fixed consideration of SEK 225 million (on a cash and debt free basis), which will be paid upon the transfer of Samtrans' shares, and a potential additional consideration of up to SEK 225 million, which is based on the outcome of certain predefined financial targets and forecasts and will be paid in installments during the period 2019–2020. 

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 abovementioned contact persons, on 14 June 2018, at 6:55 p.m. 

CONTACT:

For further information, please contact:

David Erixon, Head of Communications, +46 72 967 02 84

Mattias Gelinder, Head of IR, +46 72 967 02 61 

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