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Instalco grows in Finland

12/07/2021 | 01:01am EDT

Instalco is acquiring Nordpipe Composite Engineering Oy (NCE) in Finland and thereby strengthening its offering in the Industrial business area. The company offers production and installation of composite solutions to industry.

With its approximately 120 employees, NCE has a global customer base and its registered office in Jakobstad, which is situated between Vasa and Oulu along the north-west coast of Finland. For the most recent financial year, the company had sales of approximately SEK 235 million.

"One of our prioritized strategies is strengthening our presence in Finland, so it is very satisfying that now, through NCE, we can start growing our Industrial business area there as well," says Robin Boheman, CEO at Instalco.

"This is a very well-run company with high historic profitability, making it a nice fit with Instalco. NCE has already in the past been successfully collaborating with several Instalco companies," says Johan Larsson, Head of the Industrial Business Area at Instalco.

Nordpipe Composite Engineering designs, manufactures and installs composite solutions for industries working with processes for aggressive corrosion, high pressure and strong erosion. In these environments, metal materials are frequently replaced by chemical resistant composites with a long life.

"Joining Instalco opens up new opportunities for us in conjunction with the investments Instalco is making in its industrial discipline. We have already been collaborating with the Instalco subsidiary, Mesab, for some time and can now see many new opportunities for developing our company as part of the Instalco Group," says Dan Björkskog, CEO at Instalco.

Instalco will acquire 100 percent of the shares in Nordpipe Composite Engineering Oy taking possession immediately.

For further information
Fredrik Trahn, Head of IR & 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, technical consulting and industrial solutions. We offer project planning, design, installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 100 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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Sales 2022 10 950 M 1 099 M 1 099 M
Net income 2022 581 M 58,3 M 58,3 M
Net Debt 2022 1 349 M 135 M 135 M
P/E ratio 2022 22,9x
Yield 2022 1,48%
Capitalization 12 871 M 1 292 M 1 292 M
EV / Sales 2022 1,30x
EV / Sales 2023 1,17x
Nbr of Employees 5 027
Free-Float 69,6%
Duration : Period :
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Last Close Price 49,46 SEK
Average target price 88,00 SEK
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Robin Boheman Chief Executive Officer
Christina Kassberg Chief Financial Officer
Per Wiking Sj÷strand Chairman
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Eva Carina Edblad Independent Director
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