Storskogen has entered into an agreement to acquire the majority of the shares in VINAB, Verkstadsindustri i Norr AB, operating within manufacturing, assembly, reparations and maintenance to the heavy industry. VINAB reported revenue of SEK 253 million and operating result (EBIT) of SEK 17.5 million in 2020.
VINAB is a supplier of industrial services to the heavy industry with a focus on the Swedish mining industry and provides services within project management, mechanical construction, pipe welding and assembly. The company is present in Norrbotten and headquartered in Gällivare. At the end of 2020, the company had 85 employees. VINAB will be part of Storskogen's vertical Industrial Technology and the business area Industry.
"We are very happy to have acquired VINAB. It is a well-managed company that, through a focus on quality and development throughout the organisation, has gained a very strong position as a service provider to the heavy industry. It will be exciting to support the company on its continued journey", says Fredrik Bergegård, EVP and Head of Business Area, Industry.
VINAB's current owner, Olle Henriksson, will remain in the company as Head of Business Development after the acquisition. The CEO, Per Stöckel, will also remain in his current position.
"We are very happy and proud to have Storskogen as a new long-term owner. We believe this can help us accelerate our current growth journey and create an even stronger customer offering together with the other companies within Storskogen", says Olle Henriksson, Head of business Development at VINAB.
Storskogen expects to complete the acquisition in the middle of the fourth quarter of 2021 and the acquisition is expected to have a marginally positive effect on Storskogen's earnings per share in the current year. The acquisition is subject to approval by the Swedish Competition Authority.