Instalco expands in Umeå via its acquisition of Norrtech VVS och Industri AB
Instalco is expanding in Region North via its acquisition of Norrtech VVS och Industri AB, which serves customers in Umeå and the surrounding area.
The company offers a full range of services in heating and pipe work for property owners, private sector companies and individual households. It also offers complete installations for industrial companies. For the 2019 business year, sales were approximately SEK 36 million.
“The acquisition of Norrtech enables us to expand in the area around Umeå, where we have previously been represented via our Instalco subsidiary, Rikelektro. Norrtech has a very skilled and mature leadership team that is a nice fit with Instalco. Their service offering is another plus, in that it is consistent with our strategy of growing and winning market share in that area,” says Johan Larsson, Business Area Manager for Instalco North.
Norrtech was established in 2015 and has 16 employees. It is owned by Simon Sandström and Marcus Hermansson, both of whom will remain in their current positions after the acquisition.
“We’re excited about joining the Instalco team and see this as a great opportunity for winning new assignments, further growth and development,” says Simon Sandström, CEO at Norrtech.
Instalco will acquire 100 percent of the shares in Norrtech VVS och Industri AB as of today, 2 April 2020.
For further information
Fredrik Trahn, Head of IR and Communications,
phone +46 70 913 67 96, e-mail email@example.com
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 offer installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 70 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