NYAB, in its current form, emerged in the spring of 2022 through the merger of the Finnish Skarta group and the Swedish NYAB group but has existed in other forms since it was first founded 1990 in Luleå, Sweden. NYAB is built on extensive business experience and is constantly renewing itself to become an established provider with comprehensive expertise within complex and challenging engineering projects. NYAB’s history can be traced through ten significant phases described below:
2011 – Foundational shift
Originally founded as Nyanläggarna Luleå in 1990, NYAB operated on a modest scale for its first 21 years and annually achieved a revenue between SEK 4-18 million. In 2011, following the acquisition by Johan Larsson and Mikael Ritola, NYAB began to expand, and shift focus towards new specialisations.
2013 – Start of NYAB’s growth journey
The spring of 2013 is the start of NYAB’s growth journey as Johan Larsson begins to work full-time as CEO and the company expands its operational and administrative capabilities. These changes coincide with steady growth in the land improvement area of the business.
2014 – Rebranding and strategic acquisitions
The company rebranded as NYAB Sverige to reflect its ambitious growth goals. Key acquisitions during this period included the construction group HT-Bygg, and the land improvement company MMS (Mark Montage & Stängsel), which was later renamed NYAB INFRA. The company also expanded its presence by opening new offices in Kiruna and Gällivare.
2015 – 2017 – Growth and diversification
By 2015, NYAB’s revenue had reached SEK 300 million and the projects that NYAB begins taking on increase in complexity, outlining the growing confidence in the company from its clients. NYAB also moves into the new market segment ballast and rock operations, with the subsidiary NYAB Infrastruktur being founded in 2017 to focus on roadworks, municipal contracts and maintenance work for the Swedish Transport Administration. By the end of 2017, NYAB’s revenue reaches close to SEK 500 million and NYAB Infrastruktur opens an office in Kalix.
2018 – Geographical expansion
NYAB completed its first complex railroad project and secured its first municipal ground and coating contract. New offices were established in Piteå and Haparanda, and the company’s workforce grew to over 100 employees, enhancing its professional capabilities.
2019 – New office in Mälardalen
NYAB’s ambition to become a national player was realised with the establishment of NYAB Mälardalen and the opening of an office in Stockholm. The company’s revenue surpassed SEK 1 billion.
2020 – Strategic division of operations
NYAB divides its operations into four business areas: Land improvement, Infrastructure, Special, and Mälardalen. The company also signed its first basic maintenance contract with the Swedish Transport Administration, and its revenue exceeded SEK 1.4 billion with a workforce of over 200 employees.
2021 – New strategic focus and strengthened market presence
NYAB streamlined its operations by discontinuing traditional construction activities to focus on organic growth in its core project areas infrastructure, energy, and industry. The company also strengthened its market presence, particularly in Stockholm, where it doubled its volume.
2022-2024 – Skarta and NYAB merger
NYAB continued to secure significant contracts and expanded its footprint with new offices in Gävle and Boden. The merger with Skarta group, a publicly listed company, was completed, creating SkartaNYAB, which is listed on Nasdaq First North Helsinki. This merger brought together multiple companies, including Niskasen Maansiirto, Sitema, and Skarta Energy, further enhancing NYAB’s capabilities in infrastructure, energy, and industrial construction. Following a brief name deviation, the company changes its name back to NYAB.
Skarta group originated in 1987 as Sisä-Suomen Maastorakentajat Oy, undergoing several key changes over the years, including a name change to Suomen Maastorakentajat Oy in 2000, acquisition by Andament Group Oy in 2012, and rebranding as Skarta group in 2021. Skarta group expanded its operations with the founding of Skarta AB in Sweden in 2016 and has grown through acquisitions, including Niskasen Maansiirto Oy in 2020 and Sitema Oy in 2021.
2024 – Completion of Cross-border Conversion and listing on First North Stockholm
NYAB completes its plans to carry out re-domiciliation to Sweden through a Cross-border Conversion and its transfer of listing of the NYAB shares from Nasdaq First North Growth Market Finland to the Premier segment of Nasdaq First North Growth Market Sweden.
The journey continues…
