ÅF acquires Fortum Teknik & Miljö
The ÅF Group has acquired Fortum Teknik & Miljö AB, with approximately 150 employees. In doing so, the ÅF Group consolidates its leading position in the field of energy and environmental consulting at the same time as it strengthens relationship with a very important client.
Fortum Teknik & Miljö, FTM, (part of Fortum Service) is a consulting company active in the areas of energy, the environment and electric power. FTM has been closely involved in the construction and operation of several of Sweden's major power plants producing heat and electricity. The majority of the company's 150 employees are based in Stockholm, and the company's largest client is Fortum, a leading energy company in the Nordic region.
"This acquisition is in line with the ÅF Group's declared strategy of increasing the pace of growth both organically and via acquisitions in our core areas, while constantly keeping an eye on profitability," says Jonas Wiström, President and CEO of the ÅF Group. "We are convinced that FTM will make a positive contribution to ÅF profits, starting from this current year. We are delighted with the deal, which offers a rare opportunity not only to integrate unique skills into our existing organisation, but also to strengthen the bands that exist between us and one of Scandinavia's most pre-eminent names in the energy market."
"The ÅF Group's proven strengths within fields such as analysis and procurement support, coupled with FTM's strengths in the prime construction and operation of electricity generating, heating and waste disposal plants combine to create a truly all-round supplier. Our combined list of references puts us in a strong position internationally," says Jan Nordling, Managing Director for the ÅF Group's Energy & Environment Division. This also greatly extends the breadth of skills and resources within the ÅF Group's Industry Division with regard to providing consulting services relating to electric power for industry.
The ÅF Group will acquire a 100 percent holding in Fortum Teknik & Miljö AB. The acquisition is expected to have a positive impact on ÅF profits and cash flow per share from this year onwards.
"We are pleased to find a good owner for Teknik&Miljö," states President Kim Kronstedt of Fortum Service. "The company and personel will now have even better ground for development in their specific expertice field. Fortum Service will follow the strategy and concentrate on strengthening the position in the market as an O&M and Asset Management supplier."
The ÅF Group is a leading name in technical consulting. We provide cutting-edge expertise in IT and engineering to serve the needs of clients working with energy and the environment, the pulp and paper industry, inspections, the development of industrial systems and products, the design of installations and infrastructure technology. The Group currently employs 2,600 people in around 50 locations throughout Sweden and almost a dozen other European countries.