Netel and Infrea become Netelinfra – a leading Northern European infrastructure services group

Growing infrastructure maintenance needs, electrification, digitalisation and a changing security environment are driving investment in infrastructure. At the same time, customers are placing increasing demands on geographical coverage, integrated service offerings and regulatory compliance. Netelinfra addresses these needs by bringing together specialist expertise across four business segments: Paving, Infra, Power and Telecom. Its services cover the entire value chain – from planning and design to construction and maintenance.

The merger gives Netelinfra a broader customer and project portfolio, serving both public and private sector clients. Long-standing customer relationships and framework agreements contribute to stability, while the expanded geographical presence strengthens competitiveness. Maintaining close relationships with customers remains central to the business model.

“Together, we have greater capacity to meet our customers’ needs while continuing to build on what has made each business successful: extensive expertise, a clear customer focus and local entrepreneurship. We now look forward to working together to build a leading Northern European infrastructure services group,” says Martin Reinholdsson, CEO of Netelinfra.

Four business segments with strong local roots

Netelinfra's operations are organised into four business segments: Infra, the group's largest segment, undertakes infrastructure projects in Sweden, including roads, railways, civil engineering, water and wastewater systems. Paving covers asphalt production, milling and surfacing works in Sweden. Power provides design, construction and maintenance services for substations and electricity distribution networks in Sweden and Norway. Telecom provides design, construction and maintenance services for fixed telecommunications networks in Sweden, Norway and Germany. The same services are offered for mobile networks in Sweden and Norway.

The larger organisation also creates opportunities for professional development and knowledge sharing, while strengthening the group's ability to attract and retain employees.

“The merger is a natural next step in our long-term strategy to build a strong player in critical infrastructure. By combining Netel's and Infrea's geographical presence, specialist expertise and financial strength, we are creating a platform for profitable growth and a stronger position in the Northern European market. With strong support from our shareholders, we are well placed to develop the group and create long-term value for our shareholders,” says Alireza Etemad, Chairman of the Board of Netelinfra.

Facts about Netelinfra

NetelInfra was formed on 4 November 2026 through the merger of the two listed companies Netel and Infrea.

• Pro forma revenue 2025¹: Approximately SEK 5 billion.
• Markets: Sweden, Norway and Germany.
• Operations: Planning, design, construction and maintenance of critical infrastructure.
• Customers: Public and private sector clients, including municipalities, government agencies, energy companies, the defence sector, industrial companies and telecommunications network owners.
• Business model: Contracting operations comprising both project-based assignments and long-term framework agreements.
• Employees: More than 1,200.
• Organisation: Four business segments with decentralised operational responsibility.
• Stock exchange listing: Nasdaq Stockholm.
• CEO: Martin Reinholdsson.
• Chairman of the Board: Alireza Etemad.
• Largest shareholders: Byggmästare Anders J Ahlström Invest AB, Lindeblad Technology AB, Etemad Group AB and Actorius AB.
  

¹See also the prospectus (in Swedish) [link].