industry
Astor Group wants to buy out Nordic Shield Group completely
Scandinavian Astor Group acquires all remaining shares in Nordic Shield Group for approximately 467 million kronor, thereby taking full ownership of the company that delivers defence solutions for defence, authorities and critical infrastructure.
Scandinavian Astor Group has announced that it has entered into an agreement to acquire all remaining shares in Nordic Shield Group (NSG). Astor previously held 36.5 per cent of the company and will, through this transaction, take full ownership of the business.
According to a press release from Astor Group, NSG encompasses the Cesium and NEZ business units, as well as solutions within specially classified protective structures, including shelters, secure data centres, and container-based systems. The company delivers solutions for defence, government authorities, and critical infrastructure.
"Taking NSG into a wholly owned subsidiary is a strategic step that gives Astor Group ownership of a business we already know well," says Martin Elovsson, board member and incoming Group Chief Executive of Astor Group, in the press release.
The initial purchase price amounts to approximately 467 million Swedish kronor. Approximately 73 million kronor will be paid in cash, while the remaining portion will be financed through shares and promissory notes. In addition, a performance-based earnout of up to approximately 146 million kronor may be added, depending on NSG's results during 2027.
Astor states that the acquisition forms part of the group's strategy to build a cohesive defence-oriented ecosystem, and supports its ambition to reach a turnover of 2.5 billion kronor by 2028.
During the first quarter of 2026, NSG recorded revenues of 104 million kronor with an EBITDA result of 20.5 million kronor. The order book stood at 412.5 million kronor at the end of March.
"NSG has, in recent years, built a strong position within specially classified protective structures. Astor Group becoming the sole owner gives us long-term stability and strengthened conditions for expansion," says NSG Chief Executive Peter Adolfsson in the press release.
The acquisition is subject to, among other conditions, approval from the Inspectorate for Strategic Products (ISP), as well as a resolution on a directed new share issue at an extraordinary general meeting. The transaction is expected to be completed during the second quarter of 2026.
FAQ
- Vad är köpeskillingen för Astor Groups förvärv av samtliga aktier i Nordic Shield Group?
- Den initiala köpeskillingen uppgår till cirka 467 miljoner kronor, varav ungefär 73 miljoner kronor betalas kontant och resterande del finansieras genom aktier och reverser. Därutöver kan en prestationsbaserad tilläggsköpeskilling om upp till cirka 146 miljoner kronor tillkomma beroende på NSG:s resultat under 2027. Senast faktagranskad: 2026-05-06.
- Vilka verksamheter och produktområden ingår i Nordic Shield Group som Astor Group förvärvar?
- Nordic Shield Group omfattar verksamheterna Cesium och NEZ samt lösningar inom särskilt skyddsklassade konstruktioner, däribland skyddsrum, säkra datacenter och containerbaserade system. Bolaget levererar lösningar för försvar, myndigheter och kritisk infrastruktur. Senast faktagranskad: 2026-05-06.
- När väntas Astor Groups förvärv av Nordic Shield Group slutföras och vilka villkor gäller?
- Förvärvet väntas slutföras under andra kvartalet 2026. Det är villkorat av godkännande från Inspektionen för strategiska produkter (ISP) samt beslut om riktad nyemission vid en extra bolagsstämma. Astor ägde sedan tidigare 36,5 procent av NSG och tar genom affären fullt ägande. Senast faktagranskad: 2026-05-06.