Bravida expands in Norway – acquires Otera Elektro AS

Bravida Group, leading supplier of technical installation and service solutions for buildings and plants acquires Otero Elektro AS. The Bravida Group thereby continues its expansion in the Norwegian market.  Otera Elektro AS has approximately 300 employees and a turnover of just above SEK 500 million during 2013.

Press release

Otera Elektro AS delivers electro technical infrastructure, as well as automation and instrumentation solutions to the construction industry and to the oil and maritime sector. The company is located in Kristiansand, Bergen and Asker, and delivers services throughout Norway. The operation is part of Otera AS, which in turn is owned by Agder Energi, the third largest energy producer in Norway.

The acquisition of Otera Elektro should be seen as an aggressive effort from our side. The experience and expertise of the company, especially regarding solutions for the oil and marine industry, will immediately strengthen our expertise and competitiveness in this important and growing market, says Mattias Johansson, responsible for Bravidas activities in Norway.

We very much appreciate that Bravida takes over and continues to develop Otera Elektro. Bravida has a clearly stated growth strategy for installation and services solutions and the employees of Otera Elektro will become a part of that push forward, comments Hans Jakob Epland, Managing Director of Otera AS and Chief Marketing Officer of Agder Energi AS.

Bravida Norway has previously acquired Siemens Installation AS (2009) in addition to a number of smaller acquisitions. The Bravida Group has approximately 2,000 employees in 25 locations in Norway and is a leading player in the Norwegian installation and service solutions market.

The acquisition requires approval from the Norwegian competition authorities.

For further information, please contact:

Staffan Påhlsson, CEO and Group President, Bravida

Telephone: +46-8-695 22 10