Nordic consolidation continues with Norrlandskranar buyout

Havator completed the deal at the end of last month with the final handover taking place this week.

Norrlandskranar, which has four locations across Sweden in Sundsvall, Örnsköldsvik, Härnösand and Östersund, was estimated to have a turnover of around SEK49m prior to the takeover.

Its addition to the Havator Group will boost the firm’s crane fleet by 20 units, all with capacities between 10t and 300t, and add 35 employees.

Havator director of operations for Sweden, Peter Nilsson, said: “The acquisition of Norrlandskranar AB is yet another step in the strategic development of Havator in which the goal is a well-functioning network of depots within Sweden.

“Norrlandskranar AB, which has a good reputation and long experience within the industry, fits in well with this strategic construction. The position of Havator in Central Sweden will be strengthened even more through the acquisition resulting in even better possibilities for fulfilling the needs of our customers in a more effective manner.”

Havator has been a strongly acquisitive company since the mid-2000s, after which a string of mergers, including the likes of Finnish firms Nostopalvelu Veikko Ojala Oy, Avilun Oy and Pika-Tikas Oy, along with other Swedish transport and lifting firms led to a surge in the firm’s operations across Scandinavia.

In 2010 private equity firm CapMan Buyout IX invested in the Havator Group, the fund manager citing its interest in strengthening Havator’s position as the Nordic crane market consolidates following the global financial crisis.

Havator’s Nilsson added: “The industry is becoming more complex and more and more is required of the supplier making this kind of structuring absolutely necessary. With a greater base in Central Sweden, the possibility for good availability, better security, more effective customer solutions increases, benefiting both Havator and its customers."