Skanska divests Skanska Installation to Assemblin for about SEK 225M
Skanska has signed an agreement to sell 100 percent of the share capital in Skanska Installation to Assemblin. The purchase price is about 225 million on a debt free basis. The transaction will not have any material result effect.
The sale, which takes place after a strategic review, includes the entire Skanska Installation operations, all employees and assets. In 2015 Skanska Installation had about 830 employees. The revenue amounted to about SEK 1.5 billion.
The sale is conditional on approval from the Swedish Competition Authority.
Assemblin, owned by Triton, is a complete installation and service partner with operations in Sweden, Norway and Finland. Annual sales amount to about SEK 7 billion and the company has over 5,000 employees at over 100 locations in the Nordic region.
Skanska is one of the largest project development and construction companies in Sweden, with operations in building and civil engineering as well as in residential and commercial development. The unit has about 10 000 employees. Revenues from construction amounted to SEK 27 billion in Sweden in 2015. Residential development sold about 2 200 new homes. Skanska also offers services in public-private partnerships.