Instalco grows in the Oslo region through the acquisition of AS Elektrisk
Instalco strengthens its offering in Oslo through the acquisition of AS Elektrisk, a total contractor in electrical and telecom installation services with strong local connections in the region.
AS Elektrisk was founded by Trond Brustad and Arne Fjell in 1983, and currently has some 40 employees. The acquisition strengthens Instalco’s offering in Oslo and complements the previous acquisitions of the electrical installation companies Romerike Elektro and AR Elektroprosjekt. In 2016, the company’s sales amounted to approximately NOK 64 million with good profitability.
“AS Elektrisk is a perfect match with Instalco’s acquisition strategy and an excellent complement to our other units in Oslo. The company has stable and favourable profitability, strong local presence and a developed leadership. Our intention is to keep expanding Instalco in Norway, which we believe is an important market for future growth”, said Per Sjöstrand, CEO of Instalco.
“Since the start, AS Elektrisk has focused on skills and quality, personal contact and a high degree of individual customisation of our services. To become part of Instalco will give us good possibilities to continue developing our offering on the same conditions as before, but with the support from a central organisation. We also look forward to collaborate with the other Instalco companies in Norway”, said Trond Brustad, CEO of AS Elektrisk.
“It has been important for us to be able to find an opportunity to further develop our setting and winning culture in the company, and to be able to develop our young and talented staff. We are confident that Instalco will become a good solution for our company and our employees’ future”, said Arne Fjell, previous owner of AS Elektrisk.
Instalco acquires 100% of the shares in AS Elektrisk with completion today, 5 July 2017. The founders will remain in their current roles.
For further information:
Adrian Westman, Head of IR
telephone + 46 735 09 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 30 leading and highly specialised local units, 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.