3 July 2023 - Inin Group AS' subsidiary Nordic Inspekt Group AB has decided to
expand its operations within testing, inspection and certification (TIC) through
the establishment of Inspekt Norway AS. Highly experienced inspection industry
professional Bjørnar Meland has agreed to head up the business. 

"Inspekt Norway will be our platform to offer innovative and cost-efficient TIC
services in Norway," says Niklas Persson, CEO of Nordic Inspekt Group AB, which
aims to become a challenger within the rapidly growing Nordic market for testing
inspection and certification of infrastructure and industrial assets.

INSPEKT NORWAY AS
Inspekt Norway will be headquartered in the Oslo region. The company will
provide a complete TIC offering including non-destructive testing, concrete
inspection, remote inspection and consulting services within quality assurance
and control. 

Bjørnar Meland, who starts in his new role in July, has been appointed as
managing director of Inspekt Norway AS. Meland has close to 20 years'
operational experience from the Norwegian TIC market and a broad customer
network all over Norway. 

Meland joins from a former role as director of inspection at global inspection
group Kiwa's Norwegian operation. Prior to this, he worked for non-destructive
testing company Nordisk Sveiseinspeksjon AS, which his father founded. 

"Bjørnar has literally grown up in the TIC industry as he began his career
cleaning the offices of his father's inspection company! He is a highly
experienced leader and NDT operator, and well liked among both clients and
colleagues. We are delighted that Bjørnar has agreed to head up Inspekt Norway,
and look forward to building this company together with Bjørnar," adds Niklas
Persson. 

CAPITALISING ON GROUP SYNERGIES
Under Meland's leadership, Inspekt Norway has the necessary certifications to
provide TIC services to companies operating in the oil and gas industry,
including oil services companies, offshore yards, manufacturers of subsea
equipment, and EPC contractors. 

Inspekt Norway will also provide TIC and NDT services to other infrastructure
segments. For example, Nordic Inspekt Group's sister companies in Inin Group
delivers construction and maintenance services to the rail industry and other
industry niches. Further, by utilising sister company Elop Technology's
ultrasound scanner technologies, Inspekt Norway plans to target the market for
inspection of concrete infrastructure. 

"The plan is to capitalise on synergies with other Inin Group companies to
maximise our total addressable market here in Norway," says Bjørnar Meland. 

RECRUITMENT DRIVE
To start with, Nordic Inspect Group AB will own 70 percent of the Norwegian
business. Newly appointed managing director of Inspekt Norway AS, Bjørnar
Meland, will own 30 percent.

Inspekt Norway will immediately start to recruit competent employees to ensure
capacity and drive growth. Use of M&A as growth strategy may also be an option
going forward. 

"We aim to recruit several TIC experts in Norway during the coming months.
Offering employees the opportunity to co-own the company is an important part of
our recruitment strategy. We want to attract people who are excited about
building up a TIC challenger here in Norway," says Bjørnar Meland. 

Testing, Inspection & Certification is currently one of Inin Group's four
investment platforms. Nordic Inspekt Group AB heads up the platform. Through an
active M&A strategy, Nordic Inspekt Group has already acquired Swedish
non-destructive testing (NDT) company Trygg Inspection AB and has announced
plans to acquire NDT specialist AlfaTest AB in Sweden.

(ENDS)

For further information, please contact:
Øivind Horpestad, CEO of Inin Group, Tel: +47 910 00 626

About Inin Group AS
Inin Group is a listed investment company operating as an industrial owner with
investments in companies within infrastructure and industry services niches in
the Nordics. The group aims to create value by identifying investment
opportunities within profitable niches with potential for development,
consolidation and growth, working in collaboration with the platform companies
to deliver sustainable growth and superior profitability. For more information,
please visit: www.inin.no