VINCI Energies acquires EITECH, one of the Swedish leading specialists in electrical works and engineering
8 November 2017 - 8:30 am - Acquisitions - Sweden
- EITECH generates revenue of €200 million and employs 1,200 people in Sweden
- After Infratek, this acquisition will boost VINCI Energies’ position in Scandinavia
VINCI Energies, the VINCI subsidiary specialising in energy and information and communication technology services, has reached an agreement with EITECH shareholders to acquire this company, covering acquisition of all the shares.
Founded in 1994 by Rolf Tannergård, EITECH is today one of the leading specialists in electrical works and engineering for industry, infrastructures and buildings in Sweden. The company delivers complete projects and solutions to ongoing maintenance services within electrical installations and engineering. Employing 1,200 people, it generated revenue of €200 million in 2016. EITECH benefits from a strong local presence with 26 locations, from Malmö in the south to Kiruna in the north.
After the acquisition of Infratek, announced last week, this operation will boost the position of VINCI Energies in Scandinavia: with more than 3,500 employees and a turnover above €650 million, VINCI Energies becomes a major player in this dynamic area. This acquisition is subject to the approval of the Swedish competition authority.
VINCI Energies Chairman and Chief Executive Officer Yves Meignié said "With this new acquisition, following Infratek and Horlemann announced last week, VINCI Energies is continuing to extend, consolidating its operations in Northern Europe, particularly in Sweden. In this country, we believe EITECH will bring us an ideal extension of our footprint, especially in buildings, industry and infrastructure activities ".
Since the beginning of 2017, VINCI Energies has acquired 24 companies, representing around €1.1 billion of full year revenue.
About VINCI Energies
In a world undergoing constant change, VINCI Energies focuses on connections, performance, energy efficiency and data to fast-track the rollout of new technologies and support two major changes: the digital transformation and the energy transition. With their strong regional roots and agile organisational structure, VINCI Energies’ business units boost the reliability, safety and efficiency of energy, transport and communication infrastructure, factories and buildings.
2016: €10.2 billion revenue // 64,500 employees // 1,600 business units // 52 countries
VINCI is a global player in concessions, construction and energy businesses, employing more than 217,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.