SkartaNYAB strengthens its position on the energy construction market in Norrbotten by acquiring Power Forze AB31.08.22
SkartaNYAB Plc continues to build a clean future, and acquires Power Forze AB, which offers services regarding power installations for industry and wind power, as well as construction and maintenance of power grids. The purchase price amounts to SEK 38.5 million, of which SEK 8.5 million was paid as cash consideration and the remainder by organizing a directed share issue for Power Forze AB’s shareholders. The acquisition was announced on August 26 and the deal closed on August 30, 2022.
SkartaNYAB has strong skills and expertise in specialized construction and aims to expand its operations in the renewable energy value chain towards the development, construction and ownership of comprehensive clean energy projects. Investments over 100 billion euros are planned in the Norrbotten area, where SkartaNYAB is well positioned with its long history and strong anchoring in the Luleå and Kiruna areas and ongoing projects in the Norrbotten area.
“Our society faces major challenges when it comes to securing the electricity supply of the future. A growing need for electricity generates large investments in electricity grids and electricity production facilities in Sweden. Svenska Kraftnät plans to invest over SEK 100 billion in the grid over the next ten years, with over 50 projects for increased capacity. In August, the government approved an investment of a total of SEK 3.2 billion to improve the grid stations and adapt to the increased needs for renewable electricity production. This applies to three stations in Jokkmokk and stations in Gagnef, Norrköping, Salem, Umeå and Uppsala. The investments were included in Svenska Kraftnät’s investment and financing plan for 2022-2024. Through the acquisition of Power Forze AB, we can strengthen our position in the energy construction value chain and together offer our solutions for larger projects to meet the challenges. Power Forze also contributes to cross-border operation and synergies within Finland’s newly started electricity network operations, as well as with our electrical technology in the subsidiary Sitema,” says Johan Larsson, CEO of SkartaNYAB Plc.
Power Forze AB is a company that operates above all in northern Sweden and offers services regarding power installations for industry and wind power as well as construction and maintenance of electricity grids. The company was founded in 2020. The company’s turnover for the fiscal year 2021 was EUR 6.2 million and the operating profit EUR 0.4 million. Estimated turnover for 2022 is 8.4 million euros and operating profit 0.5 million euros. Power Forze is based in Jokkmokk and also has facilities in Luleå and Piteå in Norrbotten. The company was fully owned by four employees in key positions. Stefan Helmvall, Göran Petäjävaara, Fabian Hansson and Kristoffer Forsman.
“Merging with SkartaNYAB was very attractive to us. We couldn’t think of a better partner to continue our entrepreneurial journey. And we could not think of a better partner for future value creation for society, our employees and of course for our shareholders. We see many opportunities that lead to the development of our business in the coming years. Power Forze carries out everything from small to large and complex projects in electricity production, electricity distribution and industry. Our expertise spans the segments Local/Regional Electricity, Wind Power and Industry. We carry out the planning and construction of local and regional networks and thereby hope to contribute to a stable power supply to society. Together with SkartaNYAB, we can provide complementary services to our customers and play a major role in securing the electricity supply in the Norrbotten area,” says Stefan Helmvall, CEO of Power Forze.