Sale of Maintpartner AB’s business operations to Elcoline AB bring dozens of new jobs to the area and ensure more extensive industrial installation and maintenance services

Current staff continues with Elcoline and new employees to be recruited

As a result of the corporate acquisition, Elcoline will gain about 140 new people. After the deal, Elcoline employs a total of roughly 600 professionals in the Nordic countries, who work in industrial maintenance, installation projects and support services. The company is also constantly looking for new talent. The deal will also make dozens of new jobs available in Karlskoga and its nearby areas alone. Currently, the company is recruiting electricians, automation mechanics, HVAC installers, mechanical fitters and welders, for example.

The current CEO Maria Bark Pettersson will continue as the CEO of Elcoline AB.

“The corporate acquisition will provide us with a substantially more growth-oriented owner and an organization that supports growth. Elcoline has persistently grown into one of the most prominent industrial installation and maintenance companies in the Nordic countries,” says Bark Petterson.

Chair of Elcoline Group’s Board of Directors and the company’s founder Jere Räisänen moved from Finland to Sweden with his family earlier in 2022.

“My mission here is to support people in the integration process and ensure that we can carry out the merger successfully with our new colleagues from start to finish. We now have an excellent foundation for growth in Sweden, and I’m very excited to be able work with our new amazing colleagues on an extremely important leap for Elcoline Group. Actually, Elcoline was originally established in a Finnish industrial town that is similar to Karlskoga,” Räisänen says.

Elcoline provides its industrial partners with installation and maintenance services as a contractual partner

Elcoline services cover electrical and automation services, HVAC services, mechanical installation services, demanding welding services, installation of pipe systems, renovation and pressure testing of safety valves and mechanical processing.

“Elcoline has the competence and specialized experts to complete demanding industrial projects involving many service areas. In addition to this, the company provides partner services customized for large industrial customers, such as mechanical manufacturing and installation of energy facility components, special packaging services, special transport services, calibration, fire systems and fabrication of water management products, such as dam structures,” says Elcoline AB’s COO Anders Bergstedt.

Our industrial customers benefit from Elcoline’s extensive experience in large-scale industry

Elcoline can now offer capabilities to new and existing customers in Sweden and other Nordic countries in an entirely new way.

“We want to be the leading company in our field as an employer and strategic partner to our customers throughout the Nordics – in multiple municipalities and across national borders – without forgetting the important local dimension of our operations here in Karlskoga”, says Elcoline AB’s Business Controller Anders Karlén.

“Our effective operating model and aspects such as our occupational safety culture have been created in cooperation with many large industrial companies in the Nordic countries and with our staff members who travel across the globe to fulfil service contracts,” says Räisänen.

Deal to bring more business operations to Sweden and other Nordic countries

The larger scope of the business operations also results in increased local resources that can move smoothly between countries. Through Elcoline Group, customers have access to several times more resources than before for project-oriented or seasonal work – hundreds of project specialists, fitters, and designers, instead of a few dozen.

“The Group’s aim is to employ 1,000 experts by the end of 2023. Through our moderate yet determined growth strategy, we want to contribute to ensuring that industrial production remains in the Nordic countries and is organized as responsibly as possible. As such, we must be able to provide resources and efficiency for maintenance and project activities to make sure that the operations are profitable. We want to be a genuine Nordic operator, offer interesting work tasks to our staff in the Nordic countries and provide our customers with high-quality services in the long term,” says Elcoline Group’s CEO Leif Backman. 

The corporate acquisition involves Elcoline purchasing the Swedish business operations of Maintpartner AB, which is owned by funds managed by CapMan Buyout. By virtue of the deal, Elcoline will climb to the net sales category of 700 million SEK, becoming the largest entrepreneur-owned company in the Nordic market. Elcoline’s growth will be strong in 2022. The deal pertains to installation services and project business focusing on long-term customer relationship and contracted locations. The roots of the business operations being purchased extend to the 19th century, when they were part of Bofors AB and later Fortum Oyj and Maintpartner AB. Geographically, the operations are focused in the Karlskoga, Degerforss and Arboga areas, among other locations.