Instalco becomes multidisciplinary in the Inland region

Instalco continues its expansion in Norway through the acquisition of Bakke El-Installasjon AS. The company is based in Gjövik, Innlandet and operates within electrical installations, both for the private and public sectors.

Bakke El-Installasjon has 23 employees and a turnover of approximately 30 million NOK. The company specializes in both high and low voltage installations, with a broad range of services in electrical and technical equipment.

”With the acquisition of Bakke El-Installasjon, we are further establishing ourselves within a very interesting geographical area in Gjövik, which through the university NTNU attracts strong technical competence. We also see potential synergies and benefits with our nearby existing companies, Medby AS, Haug og Ruud VVS AS,”, says Roger Aksnes, Business Area Manager at Instalco Norge.

Bakke El-Installasjon was founded in 1989 and has through a motivated management team established a very good reputation in the region. The company offers both contracting and service and has also in recent years established an extensive solar energy offering.

“For us, joining Instalco means great advantages. We have the ability to further develop Bakke El-Installasjon together with other Instalco companies in the region, whilst it also being a strength that we are now part of a network with several other entrepreneurs”, say the management of the company, Tormod Bakke and Kim Vasskog.

Instalco acquires 100 percent of the shares in Bakke El-Installasjon AS as of 7 December 2022.

For further information

Fredrik Trahn, Head of IR & 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, technical consulting and industrial solutions. We offer project planning, design, installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 120 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