Instalco strengthens its electrical operations and expands its northern business area through the acquisition of 3EL in Västerås, Sweden.
3EL was founded in 2011 by the colleagues Tony Wilhelmson, Magnus Barklund and Marcus Svanfelt, all with extensive experience within electrical installations and strong local connections in Västerås. The company plans and carries out all types of electrical installations, from smaller service assignments to larger projects within residential production, public administration, hospitals, offices and industrial premises. 3EL has around 30 employees and preliminary net sales for the 2017 financial year amounted to approximately SEK 75 million.
“With 3EL, we continue to grow within the electrical discipline and expand our northern business area. 3EL has exhibited strong growth with sound profitability since inception, and will become a good addition to our existing companies in the region”, says Johan Larsson, Head of Business Area North in Instalco.
All sellers will continue in their respective roles following the acquisition.
”It feels great to become part of Instalco and get the opportunity to continue our growth journey through collaboration and best practice sharing with the other companies in the group. Through the deal, we get access to a group with great resources. We also hope that our employees will develop through the group’s central training initiatives”, says Tony Wilhelmson, CEO at 3EL.
Instalco acquires 100% of 3EL (Trel AB), with completion today 10 January 2018.