Instalco company, Moi Rør makes acquisition of heating, plumbing and ventilation company
Moi Rør in Kristiansand, an Instalco subsidiary in Norway, is expanding its offering by acquiring Halvard Thorsen AS. The acquisition strengthens Moi Rør’s position in Kristiansand and the southern region of Norway.
Halvard Thorsen was established in 1934 under the name Thorsen og Ruud. It 1946 it took the name Halvard Thorsen in conjunction with a change in the ownership structure. The company currently has 20 employees and annual sales of approximately SEK 42 million.
“The acquisition of this prestigious company offers us excellent growth opportunities together in Sørlandet. Halvard Thorsen is known for its highly competent employees and they will complement us well,” says Kåre Henning Åsly, CEO of Moi Rør.
The company offers all types of heating, plumbing and installation work, along with renovation and service. Its end customers are primarily in industry, along with construction companies that build residential property, schools, hospitals and energy facilities.
“Together with Moi Rør and the other Instalco companies, we see excellent opportunities for building up a larger, more profitable business in our region,” says Jan Buch, CEO of Halvard Thorsen.
Through Moi Rør, Instalco will acquire 100 percent of the shares in Halvard Thorsen AS, which is expected to be completed during April.
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 125 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