Instalco expands to new market in Norway
Instalco continues to expand in Norway by acquiring the ventilation company Teknisk Ventilasjon AS. Through the acquisition, Instalco establishes operations in the fast-growing city of Trondheim and surrounding areas.
Teknisk Ventilasjon was founded in 1987 and currently has 17 employees. The company is active in ventilation and is specialised in indoor climate solutions. It provides installation services within air cleaning, automated systems and heat pumps for all types of properties. For the 2017 financial year, net sales amounted to approximately 55 million.
“With the acquisition of Teknisk Ventilasjon, we enter a new geography in Norway. The Trondheim area comprises a strategic position for Instalco and is an area characterised by favourable growth. Teknisk Ventilasjon has a strong local position in the market and good profitability”, says Per Sjöstrand, CEO of Instalco.
Teknisk Ventilasjon operates primarily in Trondheim and its surrounding areas, as well as in the Trøndelag and Møre og Romsdal regions. The company mainly works in projects but also with service. The company is owned by five people, of which four are employees who will remain in their current roles.
“We have built and developed Teknisk Ventilasjon for 30 years, and we have an extensive expertise in ventilation. To become a part of Instalco is a natural step in our expansion, and we look forward to exploring collaboration opportunities with the other Instalco companies and to strengthen our business with support from a central organisation”, says Olav Selbekk, CEO of Teknisk Ventilasjon.
Instalco acquires 100% of Teknisk Ventilasjon AS with closing on 9 May.
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.