Jernbro, one of Sweden's providers of industrial maintenance and projects, announced it has agreed to sign a deal to acquire Veltec, a renowned industrial services pioneer with significant operations in Norway and Denmark.
Scandinavian expansion
This strategic move marks a significant milestone in Jernbro’s mission to enhance its capabilities and expand its reach across Scandinavia.
The acquisition signifies a strategic step forward for both Jernbro and Veltec, ensuring that their customers will benefit from a broader range of services, increased reliability, and innovative solutions that meet the demands of modern industrial operations.
Quality and operational efficiency
Daniel Backman, CEO of Jernbro, said, "This acquisition represents a significant step in our growth strategy. By joining forces with Veltec, we are better equipped to meet the evolving needs of our customers across Scandinavia."
"We are committed to bringing the combined expertise of both companies to offer unparalleled service quality and operational efficiency."
Service delivery and customer offering
Veltec's established presence and proven track record in Norway and Denmark will complement and strengthen Jernbro
Veltec, a significant player in the region with over 300 skilled staff and more than 50 years of experience across various industrial sectors, brings a wealth of knowledge and specialist capabilities to Jernbro.
As a service pioneer in Scandinavia, Veltec's established presence and proven track record in Norway and Denmark will complement and strengthen Jernbro’s service delivery and customer offering.
Safety, and sustainability
Gert Nielsen, CEO of Veltec, said, "Joining forces with Jernbro presents a unique opportunity to strengthen our services and expand our market reach."
"Together, we are well-positioned to provide our customers throughout the region with superior industrial services that drive efficiency, safety, and sustainability."
Seamless service and maintenance
Upon completion of the acquisition, the combined team will operate from over 35 locations throughout Sweden, Norway, and Denmark, delivering end-to-end industrial services, supporting decarbonisation projects, and improving operational performance.
The integration of both teams, consisting of approximately 1,300 employees, will contribute to expertise and knowledge in industrial maintenance and projects from various industries and enable seamless service delivery across the region.
Key benefits and applications
It also strengthens capabilities across diverse industries such as petrochemical, steel, mining, food & beverage
This acquisition further cements Jernbro's position as an industrial service provider in the sector. By integrating Veltec's expertise and established presence, Jernbro will enhance its capabilities and market reach. The acquisition will bring several key benefits, including an enhanced geographical presence and local support across Sweden, Norway, and Denmark, which allows for greater service reach to customers.
It also strengthens capabilities across diverse industries such as petrochemical, steel, mining, food & beverage, pulp & paper, automotive, metals manufacturing, pharmaceutical, energy, water & sewage, maritime infrastructure, and chemical sectors.
Training and development
Furthermore, Jernbro is committed to ongoing growth, alongside a continued focus on training and development through its established Maintenance School training academy.
Jernbro is backed by Bluewater, a specialist international private equity firm focused on the energy sector. Deal completion is expected in September subject to customary closing conditions.
