Novedo strengthens the board's stock exchange experience and initiates a dual-track process

Stockholm, 9 January 2023 (17:30 CET)

Novedo Holding AB (publ) ("Novedo" or the "Company"), a privately owned industrial group within Industry, Infrastructure and Installation & Services, has experienced strong growth since the first company acquisition in 2021. Novedo’s pro forma annual net sales amount to SEK 2,337.2 million and pro forma EBITA to SEK 245.4 million after the latest acquisition in November 2022. The market potential for continued profitable growth is good and as part of future capital raising, the Company is preparing for a possible IPO in 2023. To increase the conditions for the best possible capital raising, Novedo’s Board of Directors and major owners have also initiated a so-called dual-track process, meaning the exploration of other types of changes in the ownership structure in parallel to the IPO preparations.

As previously communicated, Novedo has in 2022 begun to prepare the Company for an IPO in 2023, provided that the market conditions are right. The work on an IPO is ongoing and as part thereof, Novedo will hold an extraordinary general meeting on January 12, 2023, where Jan Johansson, experienced from listed companies, is proposed as a new board member and new chairman of the board.

To increase the conditions for the best possible capital raising in the future, Novedo's board and main owner have initiated a so-called dual-track process, meaning the exploration of other types of changes in the ownership structure in parallel to the IPO preparations.

"Interest in becoming part of Novedo is high among small and medium-sized entrepreneurial companies in Novedo's focused segments: Industry, Infrastructure and Installation & Services. In two years, the Company has grown to consist of 1,100 employees, active in companies with a healthy corporate culture, developed niche positions and proven business models. The market potential for continued profitable growth is good, broadening the Company's possible capital raising increases our ability to realize our business plan and growth targets", says Per-Johan Dahlgren, President & CEO, Novedo.

The information was submitted for publication, through the agency of contact persons set out below, on 9 January, 2023 at 17:30 CET.