Vinci, Europe’s largest construction group, has made two purchases to bolster its presence in the northern European power grid and electric vehicle charging market and extend its coverage to the Nordic countries.
One of the deals was for Oslo-based Infratek, a supplier of grid, rail and electric charging stations. Vinci bought all the shares in the company from Triton Funds, a German-Swedish private equity group that acquired them in 2013. It employs about 1,350 people and generated revenue of more than €300m in 2016.
Lars Bangen, the chief executive of Infratek, commented: "Vinci Energies wants to expand its business to the Nordic region and it has chosen Infratek to achieve its goals. The acquisition shows that it trusts us and our people, our expertise and what we have achieved, especially in recent years under Triton."
The other takeover was of Horlemann, a family-owned company based in the Ruhr and Berlin. It had an annual turnover €100m in 2016 and employs 570 people. It specialises in the engineering, construction and maintenance of grids. Its clients are mostly German local authorities and local operators.
Yves Meignié, Vinci Energies’ chief executive, said: "With this acquisition, we continue to expand and consolidate our operations in northern Europe, especially in Norway and Finland where we have previously had no business. We continue to develop expertise in new markets for renewable energy."
Image: Vinci Energies will help to keep Scandinavia warm (Swedish Blonde Design)