The Swedish industrial maintenance business Jernbro has acquired Veltec with backing from the international private equity fund Bluewater.
Veltec is a renowned and leading total supplier of industrial services in Norway and Denmark, designing, developing and implementing industrial solutions and providing maintenance thereof. Veltec has more than 300 employees and over 50 years of specialised experience across different industrial sectors.
Jernbro is one of Sweden’s leading providers of industrial maintenance and projects. The business was formed in 2005 and was part of Coor Service Management until 2015. In 2015, Jernbro became an independent business and has achieved its strong position in the Swedish market through a series of acquisitions and takeovers.
The acquisition marks an important milestone in Jernbro’s growth strategy of optimising its capacity and expanding its reach across Scandinavia. With Veltec’s activities in Norway and Denmark, Jernbro will have approximately 1,300 employees operating from over 35 locations in Sweden, Norway and Denmark. In addition, Jernbro will gain a combined unique expertise in industrial maintenance and projects from different industries, allowing for a seamless service delivery across countries.
Accura advised Jernbro in connection with the Danish part of the transaction.