OneCo acquires Relacom

 OneCo has entered into an agreement to acquire the Norwegian company Relacom AS, which provides technical services and strategic solutions within telecoms and energy. Subject to the approval of the Norwegian Competition Authority, Relacom will become part of the OneCo Group.

This makes OneCo a more complete provider of infrastructure services in the telecoms market.

- "OneCo and Relacom complement each other well. "OneCo has critical infrastructure as an important focus area, with a focus on expansion in power, telecoms and transport. With its employees, products and services, Relacom will help to complete the telecoms offering to our customers," says Marvin Jensen, CEO of OneCo.

Relacom AS is a major player in the Norwegian telecoms market, with almost 1,100 employees and an annual turnover of around NOK 1.7 billion. The company is a service provider of technical services and strategic solutions within telecoms, in addition to delivering fibre services to several network companies and developers.

Relacom AS is currently part of Relacom Group, headquartered in Sweden. OneCo has now entered into an agreement to acquire Relacom AS and take over the company's operations. The acquisition is subject to the approval of the Swedish Competition Authority.

In January this year, it was announced that the Møller family's investment company Katalysator had acquired control of OneCo AS through the acquisition of the company OC Industrier AS. The stage is now set for Relacom to become part of a larger industrial venture from one of the country's leading family-owned investment companies.

- Digitalisation and sustainability are central to societal development and are also important focus areas for our investment company Katalysator. With the acquisition of OneCo, we accelerated our investment in critical infrastructure such as electrical power and telecoms. We are now continuing our efforts through OneCo's acquisition of Relacom, which will significantly strengthen us in telecoms," says Øyvind Schage Førde, owner and chairman of the Møller family's holding company, Aars.

OneCo has around 950 employees and annual sales of approximately NOK 1.8 billion. The company provides electrical, automation and IT services. Power utilities, telecom operators and public and private developers are the largest customer groups. Relacom will continue as a separate company in the OneCo Group.

- Relacom and the previous owners have done solid work to put in place a foundation for future-oriented, healthy operations and development of the company. OneCo and our owners take a long-term view and believe that Relacom is well placed to create profitable operations and secure jobs. I am convinced that we, together with the employees, will succeed with the further investment in and development of Relacom," says Jensen.

The completion of the acquisition will take place as soon as approval from the Norwegian Competition Authority is received. Until then, the two companies will continue to operate independently of each other.

Contact persons:

Marvin Jensen
Chief Executive Officer, OneCo
[email protected]
+47 974 87 362