KLAR Partners funds support the growth of the next leading installation company
Funds advised by KLAR Partners Limited (“KLAR Partners” or “KLAR”) support Nimlas Group AB (“Nimlas”) to form one of the largest installation companies in the Nordic region by acquiring Konstel, a leading electrical installation company in Norway. Following the acquisition, Nimlas will have business operations in Sweden, Finland and Norway with more than 3,500 employees and annual revenues of over EUR 600 million.
Within two years, Nimlas has established its presence in Sweden, Finland, and Norway through Sandbäckens, QMG, and now Konstel. By adding Konstel, Nimlas has formed a pan-Nordic installation company with annual revenues totaling over EUR 600 million.
KLAR Partners continues to support Nimlas in building a Nordic leader within innovative and sustainable technical installation and services. The technical disciplines of Nimlas’ offering will all play key roles in the green transition to achieve net-zero targets for buildings in Europe. By adding Konstel to the group, Nimlas takes an important next step to strengthen its offering within electrical installations which include digital and energy-efficient solutions for buildings of the future.
“Konstel is a great fit for Nimlas and exemplifies KLAR's investment strategy to invest in companies providing mission critical services in resilient and growing markets. With Konstel as part of Nimlas we are forming a pan-Nordic player that is well-positioned to meet the future needs of the market while also creating an even broader platform for M&A opportunities. We look forward to continuing to support the next leading technical installation company in the Nordics”, said Fredrik Brynildsen of KLAR Partners.
“By welcoming Konstel to Nimlas Group we take a strategically important next step which strengthens both our diversification through the addition of a third geographic leg and the balancing of our technical disciplines. Just like Nimlas’ operations in Sweden and Finland, part of Konstel’s success derives from a strong corporate culture and a decentralized structure. The addition of Konstel enables Nimlas to be a more prominent partner in the green transition for buildings going forward, and to form a stronger platform for growth, both organically and through acquisitions”, said Mikael Matts, Nimlas Group CEO.
Following the acquisition, Konstel’s management will reinvest in Nimlas and continue working in the group as shareholders. Nimlas’ acquisition of Konstel is conditional upon customary approvals from the competition authority in Norway.
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About KLAR Partners
KLAR Partners is a European private equity firm focused on investments in companies operating in business services and industrial technology. The companies in which KLAR invests each have an annual turnover of approximately EUR 50-500m and are headquartered in the DACH, Nordics and Benelux regions. With investment professionals located in London, Stockholm, Frankfurt, and Brussels, together with a broad international network in the industry, KLAR has a proven business model to support, develop and grow companies. KLAR's senior professionals have worked together for many years and have more than 50 years of combined investment experience in KLAR's industry-specific and geographical focus area. KLAR Partners is a signatory of United Nations Principles for Responsible Investment.