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Coor makes strategic acquisitions in Norway

Coor Service Management is making more acquisitions within the damage service business in Norway. These acquisitions extend Coor's geographical coverage in the country and advance its positioning as one of the leaders on the Norwegian service management market.

Coor has acquired a number of Norwegian damage service companies over a short period. In 2008, it acquired the company Reno AS, which had sales of NOK 43 m in 2008 with operations in the Østerlandet region (Hedmark, Buskerud, Oppland, Akershus and Vestfold). In January 2009, Coor also took over Smedsrud & Sønner AS, which also had sales of NOK 43 m in 2008. Smedsrud & Sønner AS's operations are concentrated in Buskerud, west of Oslo.

Damage service companies offer decontamination, dehumidification, restoration and rebuilding services, some real estate maintenance and cleaning services. Coor already owned another damage service company, Renholds- og Skadesentralen (RSS), whose main territory is in western and northern Norway (Bergen, Stavanger, Haugesund and Alta).

"Our focus on damage service extends our service offering and makes us a more complete FM provider," commented Mats Jönsson, Coor Service Management's CEO and President, "these acquisitions also mean we advance our positioning further in Norway and take us closer to our goal of being the Norwegian market leader."

Coor's Norwegian business has grown rapidly in recent years, achieving sales of some NOK 800 m in 2008. Its biggest customers include Det Norske Veritas, Rom Eiendom, EDB, Telenor, Arcus, Skanska, Ericsson and SAS.

For more information, please contact:

Mats Jönsson, CEO & President, Coor Service Management,
+46 8 553 95950

Freddy Eriksen, CEO, Coor Service Management Norway, +47 67 57 71 55

Åsvor Brynnel, Communication Manager, Coor Service Management,
+46 8 553 95404