Instalco is entering the area of electrical power and grids for the process industry via its acquisition of El Kraft Teknik & Konsult i Sala AB, EKTK.
EKTK specializes in electric power solutions for the process industry. Its services include installation of switchgear, transformers, busbars and power stations. The company has around 30 employees and for the 2017 business year, sales were approximately SEK 72 million.
“EKTK’s area of specialization offers many growth opportunities for Instalco. It strengthens our position in the electricity sector and the company is an excellent fit with our other subsidiaries. Although it has only been operating for 12 years, EKTK’s management and staff have acquired a vast amount of experience and expertise,” says Johan Larsson, Business Area Manager Instalco North.
EKTK has operations throughout Sweden and for some of its projects, the scope is worldwide. Customers include ABB, Siemens, Stora Enso, Stockholm Exergi, ESS, BillerudKorsnäs, Vattenfall, Eon, Mälarenergi, Stockholm Vatten, NorrEnergi and Boliden.
EKTK was set up in 2006 by Magnus Andersson and Joakim Ihrfors. They currently run the company and will remain in their positions after the acquisition. The company is owned by JVAInvest AB and SaPema Förvaltning AB, which has two subsidiaries El Kraft Teknik and IMEC Kraftteknik AB, both of which are included in the acquisition.
“Joining Instalco will create exciting synergies and it offers us great new opportunities for additional growth and development. We also work with installations at schools, care facilities and hospitals, which is an important area for Instalco. So, we’re very excited about all the mutual benefits that can be derived from this acquisition!” says Joakim Ihrfors at EKTK.
Instalco will acquire 100 percent of the shares in El Kraft Teknik & Konsult i Sala AB as of 7 January 2019.