Brødrene A. & O. Johansen announced on 3 July a recommended cash offer of NOK22 a share for Elektroimportøren, valuing the Norwegian electrical equipment retailer at about NOK1,117m.
Why Brødrene A. & O. Johansen A/S is buying Elektroimportøren AS
AO pointed to Nordic scale, stronger supplier relationships and its dual go-to-market model serving both professional and private customers. Elektroimportøren's board unanimously recommended the offer, supported by a fairness opinion from ABG Sundal Collier.
“Becoming part of a larger Nordic group gives us greater scale, stronger supplier relationships”
Deal terms and financing
The price was a 57.1% premium to the closing price on 2 July and 54.3% above the one-month volume-weighted average. Eight major shareholders, including Varner Equities and Odin Norge, pre-committed about 46.3% of the shares. The offer was not subject to financing and was partly funded by a bridge facility from Danske Bank.
Regulatory approvals and timing
The Norwegian Competition Authority cleared the deal before the offer period ended on 5 August with acceptances for about 92.5% of the shares; settlement was due on 26 August, and AO had said it would then compulsorily acquire the remaining shares and seek a delisting.
Market context
Elektroimportøren sells electrical equipment through its own stores and online to private and professional customers in Norway and Sweden, with its own brands and installation services. It reported 2025 revenue of about NOK1.8bn, 52% from business customers, and an EBITDA margin of 10.8%.
