Altor acquires E.ON ES
Altor has acquired a 90.5% stake in E.ON ES, an engineering and contracting company for the energy industry, from E.ON Sverige AB.
The remaining stake will be retained by E.ON Sverige AB. Equity for the transaction was provided by Altor Fund III.
The investor is looking to grow the company organically, as well as through outsourcing agreements and acquisitions. E.ON ES intends to expand its service offering to existing and new customers in Sweden and the rest of the Nordic region.
E.ON ES was established in the early 1990s. It currently has revenues of SEK 2.7bn and approximately 1,500 employees. The company will continue to supply services to E.ON Sverige AB.
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