Opus closes acquisition of Gordon-Darby

On January 31, Opus Inspection Inc. (Opus), a 100% subsidiary of Opus Group AB (publ), completed the acquisition of U.S.-based Gordon-Darby, Inc. for a purchase price of approximately USD 55 million (approximately SEK 431 million), on a cash and debt free basis. All conditions for the completion of the acquisition of Gordon-Darby have been met.

As previously stated, Gordon-Darby will continue operations under its brand name and current management team and staff. Existing products and services offered will continue to be supported and developed by Gordon-Darby. The Gordon-Darby acquisition increases Opus’ footprint in the U.S., while offering management and technology synergies to benefit customers worldwide.
The acquisition of Gordon-Darby will positively affect Opus’ overall EBITDA-margin and return on capital employed (ROCE), from the date of acquisition. No one-time incremental expenses are expected as a result of this completed transaction.

The acquisition is financed through a five-year USD denominated credit facility from Swedbank. Gordon-Darby will be included under Opus’ Vehicle Inspection Division, Segment U.S. & Rest of World.
About Gordon-Darby

Gordon-Darby Inc. (Gordon-Darby) is a leading U.S.-based government services company specializing in vehicle inspection and fish & game licensing, headquartered in Louisville, Kentucky with operations in Arizona, New Hampshire and Texas. Founded in 1982, Gordon-Darby has earned its reputation as a quality-minded government services company focusing on the development, implementation, and operation of vehicle inspection and licensing programs in the U.S. With 280 employees, Gordon-Darby provides its own software technology and advanced testing products to deliver customer-focused inspection and licensing services under government contract in the three named states. In 2017, the company had revenues of approximately USD 35 million US, with the overwhelming majority coming from vehicle inspection programs.
Gothenburg, February 1, 2018

Opus Group AB (publ)
This information is information that Opus Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on February 1, 2018.
For additional information, please contact:
Lothar Geilen, CEO
Tel: +46 31 748 34 00
E-mail: lothar.geilen@opus.se

Helene Carlson
Director of Corporate Communications & Investor Relations
Phone: +46 765 25 84 93
E-mail: helene.carlson@opus.se

About Opus
Opus is a technology-driven growth company in the vehicle inspection and intelligent vehicle support markets. The company has a strong focus on customer service and innovative technology within emission and safety testing and intelligent vehicle support. Opus had approximately SEK 1.7 billion in revenues in 2016 with strong operating cash flow and good operating profitability. Opus’ plan is to reach USD 400 million in revenues and USD 100 million in EBITDA by 2021. The majority of the growth is estimated to come from the international expansion of the vehicle inspection business, with a primary focus on the Latin American and Asian markets, and the expansion of the intelligent vehicle support business. With approximately 2,000 employees, Opus is headquartered in Gothenburg, Sweden. Opus has 30 regional offices, 20 of which are in the United States and the others in Sweden, Argentina, Chile, Mexico, Peru, Pakistan, United Kingdom, Germany and Australia. Opus has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The Opus share is listed on Nasdaq Stockholm.