Are’s acquisition of Climat80 Gruppen approved by the Swedish Competition Authority
The Swedish Competition Authority has on 24 January 2020 approved Are’s acquisition of Climat80 AB (“Climat80 Gruppen”) and the transaction was completed in the beginning of February.
As announced on 9 January 2020, Are has signed an agreement to acquire all shares in Climat80 Gruppen. The transaction was subject to merger control clearance from the Swedish Competition Authority.
With the acquisition of Climat80 Gruppen, Are now has operations in 10 locations in Sweden, employing nearly 650 technical building services professionals and reaching EUR 111 million in total turnover.
“From the beginning, our goal has been to offer the full range of technical building services in Sweden as well. This includes solutions and services for the full life cycle of properties, from the initial construction phase and maintenance to modernisation and renovation. We are very impressed by the expertise of Climat80 Gruppen’s personnel. By combining our two companies skills and knowledge, we will become an even stronger and more versatile operator in the Swedish market,” says Are’s CEO Heikki Pesu.
Are Oy, Heikki Pesu, CEO
Enquiries via Head of Communications Maiju Nupponen
+358 (0)40 300 5995
Are is a family business established in Finland, with more than 100 years of experience in building services. We provide solutions and services throughout the property life cycle, ranging from new construction to technical building services contracting, servicing and maintenance, modernisation and renovation. We work closely with our customers to find the best solutions, regardless of whether the property is an office, shopping centre, hotel, hospital, residential building or industrial plant. We invest in energy-efficient building services, which enable us to provide energy-efficient premises and comfortable indoor conditions for the end-users, with cost-efficient implementation. Are has operations in three countries and employs in total approximately 3,200 persons in Finland, Sweden and the St Petersburg area in Russia. The group’s combined turnover amounts to approximately EUR 450 million (pro forma) before Climat80 Gruppen acquisition. We are part of the Conficap Group.
Climat80 Gruppen is a technical building services group of nine companies: Climat80 AB, Klimatkyl i Malmö AB, AB Stjernfeldts VVS, Lunds Värme & Sanitets AB, Clifa Service AB, Climat80 Entreprenad AB, Sanpro AB, El Fastighetsservice Syd AB and KAWI Solutions AB. The group employs nearly 400 persons and has a combined turnover of approximately EUR 66 million.