FSN's Instalco in triple bolt-on

The three companies will expand Instalco's reach in the Swedish plumbing and electric installation market.

FSN partner Peter Möller told unquote" Instalco handled the financing of the acquisitions, with no additional equity provided by the GP.

Instalco was founded by FSN in March 2014, when the GP's SEK 5.25bn Fund IV brought together five companies to form a buy-and-build platform in which it took an 81% stake.

Company
Expertkyl is a refrigeration and heating, ventilating and air-conditioning services company based on the west coast of Sweden.

LG Contracting is a heating and plumbing fitter and contracter founded in 2001. It employs 60 people in its offices in Karlstad and Örebro.

Lindköping-based Tofta is a ventilation installer that serves customers in the residential, office and industrial market segments.

Including the above bolt-ons, Instalco's total turnover for the 2014 financial year was SEK 1.2bn.

People
Peter Möller is a partner at FSN Capital.

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• Topics
• Nordics
• Portfolio management
• Support services
• Sweden
• FSN Capital
• Buy-and-build