Instalco divests Tim Kyla AB

Instalco has decided to divest Tim Kyla AB (Timab), a company with 38 employees and annual net sales of approximately SEK 89 million.

Timab, based in Stockholm, is a general contractor for grocery stores with a focus on food cooling. Timab was established in 2004 and has been part of Instalco since 2016. The buyer is Nordic Climate Group. The divestment is done to streamline the operations in Instalco’s Stockholm business area.

"Timab has long been part of Instalco and the company has performed well during its time in our group. Timab is now facing a new phase in a challenging market and we have in joint discussions come to the conclusion that Nordic Climate Group is a more natural owner of Timab at this moment", says Johan Larsson, division manager Instalco.

The divestment is expected to close during July.

For more information, please contact:
Fredrik Trahn, Head of IR & Communications, +46-70-913 67 96, fredrik.trahn@instalco.se

Instalco is one of the leading installation companies in the Nordic region for electrical, heating & plumbing, ventilation, cooling, industrial solutions and technical consulting. We offer system design, installation and service & maintenance of buildings and facilities in Sweden, Norway and Finland. The business is run through our 130 subsidiaries, with support from a small, central organisation. Instalco is listed on Nasdaq Stockholm under the ticker INSTAL. For more information, visit www.instalco.se.