Instalco expands in the Gothenburg region
Instalco continues to grow in western Sweden through the acquisition of Elektro-Centralen in Gothenburg. Elektro-Centralen offers services within electricity, data/telecommunications and security.
Elektro-Centralen was founded in 1988, and is today a company with several businesses, ranging from service assignments in electricity, telecommunications and data, to installation contracts in automation, construction and high voltage projects. For the financial year that ended on 31 August 2017, net sales amounted to approx. SEK 150 million.
The company comprises four subsidiaries that are included in the acquisition; Elektro-Centralen Communication (burglar alarms, fire alarms and passage control systems), Elektro-Centralen Entreprenad (electricity and lighting), Elektro-Centralen IT (data and fibre) and Elektro-Centralen Service (service and installation assignments).
“With the acquisition of Elektro-Centralen, we continue to grow within the electrical discipline while expanding the western business area. Elektro-Centralen is a stable company with good profitability and a mature leadership that fit well with the Instalco model”, says Per Sjöstrand, CEO of Instalco.
Elektro-Centralen employs approx. 95 people and is owned by CEO Morgan Linde and marketing manager Joakim Jörenius, who both will remain with the company.
”During the last 10 years, we have built and developed the operations in Elektro-Centralen. We are now looking forward to the next phase by becoming part of Instalco. We have strong local connections in Gothenburg, and believe we will become a good add-on to the other Instalco companies in the region. Our ambition is to continue to grow by joining Instalco and by strengthening our relations with both existing and new customers”, says Morgan Linde, CEO of Elektro-Centralen.
Instalco acquires 100% of Elektro-Centralen, with completion today 18 December 2017.
For more information
Per Sjöstrand, CEO Instalco
phone +46 70 724 51 49, e-mail per.sjostrand@instalco.se
Adrian Westman, Head of Investor Relations
phone +46 73 509 04 00, e-mail adrian.westman@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 work closely with customers, offering all the advantages of a local company, along with efficient collaboration and leadership. The operations are conducted through approximately 30 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.