ÅF acquires Swiss infrastructure company Edy Toscano AG
For further information:
Roberto Gerosa, President International Division +41 56 483 12 04
Marta Tiberg, Head of Communication and Brand +46 73 072 70 48
Through the acquisition of Edy Toscano AG, a leading engineering consulting firm in Switzerland, ÅF continues to deliver on its growth strategy.
The rapid growth of the ÅF Group continues. With the acquisition of Edy Toscano in Switzerland, ÅF takes another important step in the implementation of its growth strategy. ÅF's Swiss operations have until now been focused on the energy sector. Through the acquisition of Edy Toscano, ÅF adds infrastructure in Switzerland. When the acquisition is completed, ÅF will be one of the three largest engineering consulting firm in Switzerland with more than 600 employees.
Edy Toscano AG is a leading engineering consulting firm within infrastructure in Switzerland. The company has a revenue of MSEK 430 (2015) and more than 370 employees in 20 locations in Switzerland and three in Germany. The services provided include planning, engineering and consulting services for tunnels, roads, railways, traffic planning and environment, and more.
"Edy Toscano will increase our Swiss based business by 150 percent, making ÅF a leading engineering consulting company in the Swiss market. We are very pleased to achieve this position and to enter the important Swiss infrastructure sector. Our infrastructure business has so far focused on Scandinavia and this acquisition is part of our strategy to expand these operations to our other markets," says Jonas Wiström, President and CEO of ÅF.
The acquisition will be finalised at the end of December 2016 and Edy Toscano AG will be consolidated by the ÅF Group as of 31 December 2016. It is a condition for completion of the acquisition that owners representing 90 percent of the shares approve the transaction.
ÅF AB (publ)
ÅF is an engineering and consulting company for the energy, industrial and infrastructure markets, creating progress for our clients since 1895. By connecting technologies, we provide profitable, innovative and sustainable solutions to shape the future and improve people's lives. Building on our strong base in Europe, our business and clients are found all over the world.
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