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2020-11-26

Instalco takes new steps into the industrial sector

Instalco is continuing to increase its presence in the industrial sector with the acquisition of High Pressure Welding Sweden AB. The company, domiciled in Sundsvall, is specialized in heavy industry installations and with this acquisition, Instalco increases its presence along the northernmost coast of Sweden.

HP Welding is specialized in the installation of process equipment for industrial companies, along with the design, manufacturing and welding of boilers and pipelines. For the 2018/2019 business year, sales were approximately SEK 90 million.

"The acquisition of HP Welding is a first step towards becoming multidisciplinary in Sundsvall and along the northern coast of Sweden. Expanding our position in the industrial sector is a significant strategic step for Instalco, which is also why HP Welding is an important acquisition for us," says Johan Larsson, Business Area Manager for Instalco North.

HP Welding provides maintenance services to power plants, along with designing and manufacturing boiler installations. The company also installs high-pressure pipelines and steel structures, among other things. HP Welding was established in 2004 and it currently has 20 employees. Its largest customers are Boliden, SCA, Mondi and Valmet. HP Welding primarily offers its services to customers along the northernmost coast of Sweden. It does, however, via its subcontractors, serve customers throughout Europe.

"Being part of a large Group like Instalco is a real boost and great opportunity for developing our business. I'm looking forward to being a part of Instalco's expansion into the industrial sector," says Jerker Sjöström, CEO of HP Welding.

Instalco will acquire 100 percent of the shares in High Pressure Welding Sweden AB as 25 November 2020.

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 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 80 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

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