Norwegian company AF Group is to acquire the full shareholding of Swedish demolition contractor Harnosand Byggreturer AB to expand its presence in that country where AF said it aims to become the leading provider of demolition services.
Härnösand Byggreturer is a leading provider of demolition services in Sweden, mainly operating in the Stockholm region, but has the capacity to carry out projects throughout the country. Härnösand reported a 2012 revenue of approximately MSEK90 (US$13.5) and the acquisition is a significant strengthening of AF Group’s presence within the Swedish demolition sector.
AF Group CEO Pål Egil Rønn said of the deal: “Through the acquisition of Härnösand Byggreturer, the AF Group has taken a significant step towards becoming the market leader within demolition services in Sweden. The acquisition provides a strategic opportunity and a solid foundation for continued growth in the Swedish demolition market.
AF Group is a leading European player within removal, demolition, environmental clean-up and recycling of building, industrial sites and offshore installations, with services provided through AF Decom AS, AF Decom AB, AF Decom Offshore, AF Decom Offshore UK and BA Gjenvinning business units.