Upon completion of the acquisition, the combined team will operate from over 35 locations throughout Sweden, Norway and Denmark, delivering end-to-end industrial services, support decarbonisation projects and improve operational performance. The integration of both teams, consisting of approximately 1,300 employees, will contribute to expertise knowledge in industrial maintenance and projects from various industries and enable seamless service delivery across the region.

This acquisition further cements Jernbro's position as a leading industrial service provider in the sector. By integrating Veltec's expertise and established presence, Jernbro will enhance its capabilities and market reach. The acquisition will bring several key benefits, including an enhanced geographical presence and local support across Sweden, Norway, and Denmark, which allows for greater service reach to customers. It also strengthens capabilities across diverse industries such as petrochemical, steel, mining, food & beverage, pulp & paper, automotive, metals manufacturing, pharmaceutical, energy, water & sewage, maritime infrastructure, and chemical sectors. Furthermore, Jernbro is committed to ongoing growth, alongside a continued focus on training and development through its established Maintenance School training academy.

Jernbro is backed by Bluewater, a specialist international private equity firm focused on the energy sector.

Deal completion is expected in September subject to customary closing conditions.