Veltec is an industrial services company with operations in Norway and Denmark.
The acquisition will ensure that customers will benefit from a broader range of services and solutions that meet the demands of modern industrial operations.
It also strengthens capabilities across diverse industries such as petrochemical, steel, mining, food & beverage, pulp & paper, automotive, metals manufacturing, pharmaceutical, energy, water & sewage, maritime infrastructure and chemical sectors.
The deal is expected to be complete in September. The combined team will operate from more than 35 locations throughout Sweden, Norway and Denmark, delivering industrial services, support decarbonisation projects and improve operational performance. The integration of both teams, consisting of approximately 1,300 employees, will contribute to expertise knowledge in industrial maintenance and projects from various industries and enable seamless service delivery across the region.
Daniel Backman, CEO of Jernbro, said: "By joining forces with Veltec, we are better equipped to meet the evolving needs of our customers across Scandinavia. We are committed to bringing the combined expertise of both companies to offer unparalleled service quality and operational efficiency."
Gert Nielsen (pictured), CEO of Veltec, said, "Joining forces with Jernbro presents a unique opportunity to strengthen our services and expand our market reach. Together, we are well-positioned to provide our customers throughout the region with superior industrial services that drive efficiency, safety, and sustainability."