Instalco acquires VVS-Kraft
Instalco grows in the Stockholm region through the acquisition of VVS-Kraft. The company performs installation and service work in the heating and plumbing area.
VVS-Kraft was founded in 2006 and is based in Järfälla outside Stockholm. With 37 employees, the company carries out all forms of projects within heating and plumbing, such as service and installation. Among previous work, the company has performed installations in the Stockholm metro and commuter train systems. PEAB, Stombergs and Locum are some of its customers. For the 2017 financial year, net sales amounted to approximately SEK 90 million.
“We continue to expand in the Stockholm region with VVS-Kraft, where the company has strong local connections and long customer relations. As for all companies that we buy, the business is characterised by stable profitability and a mature leadership. VVS-Kraft will be a great add-on to our plumbing and heating technical area”, says Peter Westman, Business Area Manager East at Instalco.
VVS-Kraft is owned by its CEO and several project managers with extensive experience from the heating and plumbing area. All of them will continue to work in their respective roles.
“Our ambition is to continue to develop the business and increase our market share in the segment of heating, plumbing and cooling. We also want to grow within service. As part of Instalco, we will have the possibility to take that step”, says Ola Klockarås, CEO of VVS-Kraft.
Instalco acquires 100% of VVS-Kraft Teknikservice i Stockholm AB, with completion today 28 February 2018.
For more information
Adrian Westman, Head of Investor Relations
phone +46 73 509 04 00, e-mail email@example.com
Instalco is one of the leading installation companies in the Nordic region, active in the areas of heating, plumbing, electricity, cooling and industrial solutions. We work closely with customers, offering all the advantages of a local company, along with efficient collaboration and leadership. The operations are conducted through approximately 40 leading and highly specialised local companies, with the support of a small central organisation. Instalco is listed at Nasdaq Stockholm under the ticker INSTAL. For further information, visit www.instalco.se.