Instalco expands in Oslo
Instalco is acquiring Total VVS AS in Oslo and thereby growing the business in the area of heating & plumbing in Norway. The company’s sales for the financial year were approximately SEK 114 million.
Total VVS is a full-range supplier of heating, plumbing and ventilation solutions and service in conjunction with new construction and renovation projects. The company was founded in 2007 and it has 22 employees.
“We are very happy that we can now seriously increase the rate of growth for our platform in Norway. It is one of the strategic steps we will be prioritizing in the future,” says Robin Boheman, CEO at Instalco.
“We are happy that Total VVS will be joining Instalco. It is a very well run, profitable company that is an excellent fit with our other Instalco companies in Norway,” says Roger Aksnes, Business Area Manager for Instalco Norway.
Total VVS primarily serves customers in the Oslo region, working mostly with large projects for a variety of customers in both the public and private sectors.
“Joining Instalco is an attractive path for us to take the next steps in developing our company. As part of the Instalco team, we will be able to collaborate and share both projects and customers in a beneficial and exciting way,” Sverre Arntsen, CEO at Total VVS.
The acquisition is conditional, pending approval from the Norwegian Competition Authority. Instalco will acquire 100 percent of the shares in Total VVS AS, and it will take possession during the latter part of October 2021.
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, 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 100 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