Instalco acquires MESAB
10/16/2020 3:30:00 PM
Instalco is strengthening and expanding its operations in the business area industry via the acquisition of MESAB (Marine Environmental Solution AB), a company working with installations for the marine industry (shipping and shipbuilding).
MESAB specializes in installation and retrofitting of Ballast Water Treatment Systems (BWTS) and Exhaust Gas Cleaning Systems (EGGS), as well other services. The company's sales for the financial year were approximately SEK 160 million. 'The acquisition of MESAB is a move that strengthens and expands our operations in the business area industry. MESAB serves the marine sector, where Instalco has not previously been represented. It is a well-run company with good profitability and a very healthy entrepreneurial spirit in its management team,' says Per Sjöstrand, CEO of Instalco. The marine sector is undergoing a significant transformation resulting from current and future regulations on emissions. MESAB has a strong position in the market and it is one of a selected few companies with a contract for upgrading the fleets of both Carnival Corporations and Royal Caribbean Cruises, which, combined, account for approximately 60 percent of the global shipping fleet in the cruise industry. MESAB has its head office in Stockholm and it was established in 2009 by Anders Sjöström, who currently works as Key Account Manager and is part of the management team together with Niklas Rylin, CEO of MESAB. 'We are looking forward to joining the Instalco Group and doing our part to expand its operations in the marine sector,' says Niklas Rylin, CEO of MESAB. Instalco will acquire 100 percent of the shares in Marine Environmental Solution AB including its subsidiaries, as of 16 October 2020. For further information Fredrik Trahn, Head of IR and Communications phone +46 70 913 67 96, e-mail email@example.com 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
Instalco Intressenter AB published this content on 16 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2020 13:39:05 UTC