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2016-08-31

AX IV EG Holding III ApS: EG acquires Hairtools ApS

Company announcement 6/2016

AX IV EG Holding III ApS

EG acquires Hairtools ApS

EG acquires the Danish IT company Hairtools and continues the expansion of its
range of cloud-based IT solutions in 2016. Hairtools has developed the
leading IT solution for hairdressers and beauticians in Denmark. EG expects
to contribute to the company's growth by increasing the market share.

Copenhagen, Denmark, 31 August 2016 - EG (OMX: AX IV EG Holding III ApS)
announces today that it has acquired the Danish IT company Hairtools ApS. This
will add another IT solution to EG's rapidly growing list of
industry-specific solutions based on deep customer insight.

"Our line of business-ready solutions enables us to also play a significant
role as an IT supplier to the market for small companies, and our
business-in-a-box model has proven its worth. EG's industry-specific cloud
solutions are now the first choice in several major industries in Denmark.
Even though we do not tailor the solutions to individual companies, they work
because we focus on industry knowledge, thereby adding value to the
customer's business",
says CEO Leif Vestergaard.

One out of four hairdressers in Denmark currently use Hairtools' solution to
keep track of their appointments.

"Hairtools is a financially sound and well-established market leader with a
solid product. The acquisition is a logical investment for EG and is in line
with our strategy of growth through the acquisition of healthy IT companies
with industry insight. We expect to be able to add further value to the
solution, and our many acquisitions in recent years have given us the
capacity and experience to scale our customer base,"
says Jesper Andersen, Executive Vice President of EG's Business Ready
Solutions division.

About EG A/S

EG is one of the leading IT service companies in Scandinavia with nearly 2,000
employees in 30 locations. In 2015, EG had revenue of more than DKK 1.8
billion and reported EBITDA of DKK 207 million.

About Hairtools ApS

Hairtools was founded in 2001 and has developed the leading IT solution for
hairdressers in Denmark. The company has 16 employees and is based in
Copenhagen. In 2015, Hairtools had revenue of DKK 15.2 million and reported
EBITDA of DKK 0,7 million. Hairtools will continue as a business unit of the
EG group under the name EG Hairtools.

Enquiries regarding this announcement should be addressed to: Leif
Vestergaard, CEO, AX IV EG Holding III ApS (+45 2085 9200).

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EG A/S via Globenewswire

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