Svevia is expanding its industrial and construction operations through the acquisition of Asfaltbolaget Sverige AB.

- I am very happy that we have acquired Asfaltbolaget. The company fits in well with Svevia's value chain and gives us the opportunity to expand our industrial and construction operations in southern Sweden. Through the acquisition, we gain access to a strategically important quarry as well as new customers and markets, says Tomas Johansson, head of the Industry division, Svevia AB.

Asfaltbolaget Sverige AB is a complete land and construction contractor and performs asphalting, soil preparation and excavation for cable, district heating and water and sewage. The company is headquartered in Karlskrona with divisions in Växjö and Kalmar. Asfaltbolaget had sales of SEK 360 million in their latest annual report.

- I am very pleased that Asfaltbolaget is incorporated into Svevia, a strong owner with clear ambitions to continue the development of the business. Svevia is a forward-looking and expansive company and gives Asfaltbolaget the opportunity to grow in nearby geographies such as Skåne, where Svevia is established. Another advantage is Svevia's stable and long-term owners, which creates security for our employees' continued development and employment, says Åke Svensson, CEO and co-owner, Asfaltbolaget Sverige AB.

Svevia is a road and infrastructure construction and maintenance specialist. The company operates from over 100 locations in Sweden and Norway and has around 1,900 employees.

The acquisition is subject to the Swedish Competition Authority's approval.

IMAP advised the sellers throughout the process.