Skanska sells Swedish installation business
Skanska has sold a division that specialises in installation of services including electricity, heating, sanitation and ventilation.
Assemblin has signed an agreement to buy 100% of the share capital of the Skanska Installation business for SEK225m (£19.8m).
The sale, which follows a strategic review, includes the entire Skanska Installation operation, all employees and assets. In 2015 Skanska Installation had about 830 employees and its revenue amounted to about SEK1.5bn.
The sale is conditional on approval from the Swedish Competition Authority.
Assemblin, which is owned by Triton, has operations in Sweden, Norway and Finland. Annual sales amount to about SEK7bn and the company has over 5,000 employees at over 100 locations in the Nordic region.
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This article was published on 26 Jul 2016 (last updated on 26 Jul 2016).