Jernbro Acquires Veolia’s Industrial Maintenance Business in Sweden

Gothenberg, Sweden – 23 September 2019. Jernbro Industrial Services AB, a leading provider of industrial operations and maintenance and automation services in Sweden, announced that it is set to acquire and assume operation of the Swedish industrial maintenance business of Veolia Environnement S.A.

On 1 October, Jernbro will take over Veolia’s industrial maintenance operations with locations in Kiruna, Avesta, Sandviken, Norrköping and Gothenburg (Arendal). The business has over 300 employees and a turnover of about SEK 400 million.

“We are delighted to welcome more than 300 new employees with unique knowledge of various industrial processes and a big heart for maintenance and Swedish industry,” says Jernbro’s CEO, Mikael Jansson, with pride.

The acquisition of Veolia’s industrial maintenance business is part of Jernbro Industrial Services’ growth strategy. Jernbro is now a market leader and a complete supplier of maintenance services in, among other things: mechanics, electricity and automation as well as energy efficiency for the industry. The acquisition means that Jernbro has reached a total turnover of SEK 1.4 billion and has 950 employees.

“Jernbro’s capacity and presence in important industrial areas is strengthened through the Veolia acquisition, and our ability to attract, retain and develop critical skills and employees is further improved. Both Jernbro’s and Veolia’s current customers will have access to a broader range of high-value services that provide opportunities for continued growth for all stakeholders,” Mikael Jansson continues.

For Veolia, this sale is part of streamlining the Nordic operations in order to focus more clearly on its service offering in energy, water and recycling. “Industrial maintenance is outside Veolia’s core business and lacks the critical mass to stand on its own. In Jernbro we have found a new long-term owner who has all the prerequisites to develop the business to the next level. Jernbro is a player who can incorporate the business in a natural way, which is why I am pleased that we have been able to reach this agreement,” says Håkon Vist, CEO Veolia Norden.

Luis Pais Correia, Jernbro Chairman and CEO of Aksiom Group, Jernbro’s majority owner, stated, “In addition to achieving solid organic growth over the last year, Jernbro has been an active and successful consolidator in the industry, having acquired Rimard Industri, Skövde Industrieparationer, Värme-och Kraftservice and now the larger business of Veolia since October 2018. We join Mikael in welcoming the new employees and customers to Jernbro.”

Jernbro’s customers include small and medium-sized local companies and large international groups operating in workshops, mines, steel, food, plastics and rubber, wood, paper and pulp, chemistry and energy.