Fasadgruppen continues to grow within balconies through acquisition of Alument

Alument performs renovations, installations and glazing of balconies and offers solutions for roof terraces and sun protection, among other services. The business is based in Kolding in Jutland but also has an office in Glostrup outside Copenhagen. Work is carried out throughout Denmark, mainly for private property owners and housing associations. It also acts as a subcontractor for other construction companies. Alument has 13 full-time employees, and for the split financial year 2022/2023, its revenues amounted to approximately DKK 37 million.

Peter Andersen, Country Manager for Fasadgruppen Denmark said: "Through the acquisition of Alument, we strengthen our position in balconies on the Danish market, where we see an interesting potential going forward with opportunities to create synergies with our existing subsidiaries. Alument will also be our first independent business in Jutland."

Lars Bomholt, CEO of Alument said: "I and the entire team at Alument look forward to becoming part of Fasadgruppen. It feels very exciting to take the step into a larger context and have the opportunity to develop our business together with the other balcony operations."

Fasadgruppen is using existing cash to finance the acquisition. The seller has undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next three months for an amount corresponding to about DKK 2 million. The shares bought under the re-investment are subject to a lock-up commitment for 36 months. The acquisition of Alument is expected to be completed in January 2024.