Instalco’s subsidiary, ORAB, acquires company in Piteå
Instalco’s subsidiary, ORAB is expanding in the county of Norrbotten in Sweden, via its acquisition of RSM, Rör Svets Montage i Piteå AB. Via the acquisition, ORAB strengthens its position among industrial companies along the northernmost coast of Sweden.
RSM’s main areas of operation are industrial pipe installations, fittings and plumbing/heating. Operations are mainly in the area around Piteå, but it performs contract work throughout Sweden. The company was established in 2009 and it has ten employees. For the 2017/2018 financial year, RSM reported sales of approximately SEK 20 million.
“RSM has extensive knowledge of the industry and specialist expertise that is a great fit with ORAB. The acquisition of RSM enables us to strengthen our position and expand even more in the industrial area of Norrland,” says Kent Persson, CEO at ORAB.
RSM’s customers include: SCA, Smurfit Kappa and Pite Energi.
“Joining ORAB is a great opportunity for us and together, we will be able to take on more contracts, and larger contracts. Industry is growing in Piteå, so this feels like a natural next step for us,” says Jan Olovsson at RSM.
Instalco acquires 100 percent of the shares in Rör Svets Montage i Piteå AB with completion today 12 November 2018.
For more information
Fredrik Trahn, Head of Communications and IR
phone +46 70 913 67 96, e-mail firstname.lastname@example.org
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 45 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.