Top view of construction site.

EY advises Frigaard Property Group on its sale of Alento to KB Gruppen

EY advises Frigaard Property Group on its sale of Alento, a leading construction company, to KB Gruppen

How EY can help

Alento provides turnkey construction services, focusing on residential and commercial construction projects in the Greater Oslo region. In a crowded market with fierce competition, Alento has proven the ability to stand out and deliver profitable growth since inception in 2013. The Company can showcase strong financials, despite a tumultuous period within the Norwegian Construction and Real Estate sector. Between FY18 – FY22, the Company delivered a revenue CAGR of c. 30 %, generating revenue of c. NOK 1,171m in 2022 at c. 8 % EBIT-margin.

 

Key management of Alento will participate in the transaction, as the Company becomes a part of KB Gruppen. The transaction enables Frigaard Property Group to repay outstanding debt in full at its due date.

 

EY acted as exclusive financial advisor to Frigaard Property Group. Once again, the strength of EY’s one-stop-shop transaction offering has been at display throughout this transaction. By combining Corporate Finance, Transaction Diligence, Legal, and Tax & VAT services into an integrated delivery, EY ensured a seamless and successful transaction process for our client.

 

Deal team:
  • Corporate Finance: Ole Conrad Siem, Sverre Salbuvik and Zain Hussain
  • Financial Vendor Due Diligence: Magnus Broks, Marius V. Solberg, Mina R. Eriksbakken and Joachim Arnesen
  • Legal: Kjeld Arne Thomassen and Martina Jonryd
  • Tax & VAT: Kristian Villersø Råum, Siri Midling Larsen, Marius Brustuen, Ingrid S. Solemslie and Ingrid Marie Bondø

    Summary

    Our offerings encompassed M&A sell-side advisory, financial vendor due diligence, legal M&A advisory and Tax & VAT services, showcasing EY's unparalleled ability to serve as a true 'one-stop-shop' for our clients.

    About this article

    Picture of Magnus Broks
    Magnus Broks
    Partner, EY-Parthenon, EY Norway
    Dedicated and proactive advisor who delves beyond the numbers to find the story they tell. Team player. Foodie.
    Related topics
    Transactions and Corporate Finance by EY-Parthenon
    Real estate, hospitality and construction

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