ONE Nordic is one of Sweden’s largest companies in electrical infrastructure with around 1,500 employees. Hagström i Nås has 22 employees and specialises in inspections and monitoring of customers’ energy grids. Prior to the acquisition, Hagström was owned by PEAB, which has now divested this well-managed company, with stable profitability.

ONE Nordic is on a journey of growth, and in recent months has acquired both Hagström i Nås, situated in Dalarna County, and Tectel i Vindeln, an electric installation company specialising in both industry and energy grids, located in Västerbotten County. These acquisitions were conducted as part of ONE Nordic’s strategy of becoming a better partner for its customers, including small and large energy companies as well as parts of the industrial sector.

“Hagström i Nås is a company that has been on our radar for some time, and this was the right time to complete the acquisition. The company’s operations are a good complement to our other operations in ONE Nordic, and we believe that cooperating with ONE’s operations could provide Hagström i Nås with an area for growth over the long term.”

Lars Gutenwik, CFO ONE Nordic

As Sweden is electrified and the energy grid is adapted for higher loads and an inflow of electricity from smaller producers in the area of sustainable electricity, the industry is growing. In addition, parts of the regional grid are in need of renovation and new production, as it has simply become too old, and it is difficult for the industrial sector to grow without access to electricity. A company like ONE Nordic, which serves the entire Swedish energy industry, needs to grow. Since access to qualified power electricians and engineers with the right background is limited, acquiring smaller independent companies is a good strategy.

Running and developing a nationwide operation that is located primarily in rural areas and small towns is not that simple. With these acquisitions, a company like ONE Nordic enjoys the benefits of having both stable core operations and a decentralised organisation. Hagström i Nås, Tectel and the previous acquisition – Lapplands Elnät – all operate fully independently. Only the companies’ ownership has changed as a result of the acquisitions.

“We have retained the local knowledge and networks the companies have built up, but can offer long-term stability and the nationwide resources of a larger company,” says Lars Gutenwik, CFO of ONE Nordic.

ONE Nordic looks forward to being part of Sweden’s electrification journey alongside its new additions.