Instalco acquires Tornby El
Instalco has acquired Tornby El AB in Linköping, with the intention of merging it with another Instalco subsidiary, APC Elinstallatören AB. The acquisition strengthens Instalco’s position in the Linköping area even further.
Tornby El offers installation of electrical systems at residential property, commercial facilities, and other types of buildings in both the private and public sectors. The company was established in 1993 and it currently has 12 employees. For the most recent financial year, the company reported sales of approximately SEK 18 million.
“Tornby El has already been working for quite some time in close collaboration with our other Instalco companies in the region, APC and MSI. We've also been investigating ways of strengthening APC’s capacity and feel that the acquisition of Tornby El, with its mature, competent leadership, is the perfect solution,” says Klas Larsson, Business Area Manager for Instalco West.
The company is owned by Peter Sundqvist and its CEO, Peter Rodell, both of whom will remain at the company after the acquisition.
“Together with APC and Instalco, we can become an even stronger player in the market. This gives us the opportunity to further develop ourselves and the company,” says Peter Rodell, CEO at Tornby El.
Instalco will acquire 100 percent of the shares in Tornby El as of 21 August 2020.
For further information
Fredrik Trahn, Head of IR and Communications
phone +46 70 913 67 96, e-mail fredrik.trahn@instalco.se
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 offer installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 75 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