Nimlas acquires Norwegian Konstel to build a pan-Nordic leader in technical installation and services

Nimlas Group AB (“Nimlas”) is forming one of the largest installation companies in the Nordic region by acquiring Konstel, a leading electrical installation company in Norway. Following the acquisition, Nimlas will have business operations in Sweden, Finland and Norway with more than 3,500 employees and annual revenues of over EUR 550 million.

Within two years, Nimlas has established its presence in Sweden, Finland, and Norway through Sandbäckens, QMG, and now Konstel. By adding Konstel, Nimlas has formed a pan-Nordic installation company with annual revenues totaling over SEK 6 billion. 

Nimlas’ goal is to become a Nordic leader within innovative and sustainable technical installation and services. The technical disciplines of Nimlas’ offering include heating and sanitation, electricity, ventilation, automation, fire safety, cooling, and other related areas such as planning and design, and energy optimization. These technical disciplines will all play key roles in the green transition to achieve net-zero targets for buildings in Europe. By adding Konstel to the group, Nimlas takes an important next step to strengthen its offering within electrical installations which include digital and energy-efficient solutions for buildings of the future.

“By welcoming Konstel to Nimlas we take a strategically important next step that strengthens both our diversification through the addition of a third geographic leg and the balancing of our technical disciplines. Just like Nimlas’ operations in Sweden and Finland, part of Konstel’s success derives from a strong corporate culture and a decentralized structure. The addition of Konstel enables Nimlas to be a more prominent partner in the green transition for buildings going forward, and form a stronger platform for growth, both organically and through acquisitions”, said Mikael Matts, Nimlas Group CEO.

“We see great potential in joining Nimlas Group. We have a similar decentralized and entrepreneurial business model and joining Nimlas to form a pan-Nordic player will serve as an even greater environment for Konstel to accelerate its growth,” said Terje Myhre, Konstel CEO.

Following the acquisition, Konstel’s management will reinvest in Nimlas and continue working in the group as shareholders. Nimlas’ acquisition of Konstel is conditional upon customary approvals from the competition authority in Norway.

For more information

Kimmo Liukkonen, QMG CEO
+358 50 347 8997

Mikael Matts, Nimlas Group CEO
+46 76-850 16 03

Interview requests also to:

Alpo Räinä, Mailand Communications
+358 40 5670212