OneCo acquires Relacom in Sweden

OneCo has entered into an agreement to acquire Swedish Relacom AB, a provider of technical services and strategic solutions within telecoms and energy. The completion of the acquisition will take place as soon as approval from the Swedish Competition Authority is obtained and an agreement between Relacom AB and the bankruptcy estate of Relacom OY regarding intercompany transactions has been signed.

OneCo strengthens its position in Sweden as a complete provider of infrastructure services in the telecoms and energy markets.

"OneCo and Relacom AB complement each other well. OneCo has critical infrastructure as an important focus area, with a focus on expansion in power, telecom, energy and transport. With its employees, products and services, Relacom AB will help to complement OneCo's capacity in telecoms and energy for our customers in the Swedish market," says Marvin Jensen, CEO of OneCo.

Relacom AB is a major player in the Swedish market, with almost 400 employees and annual sales of around SEK 700 million. The company is a service provider of technical services and strategic solutions within telecom and energy, including deliveries of both mobile and fibre-based services.

OneCo has around 2,200 employees and annual sales of approximately NOK 3.5 billion. OneCo delivers services related to electrical engineering, telecoms, electrical power, energy, automation and IT. Power utilities, telecom operators and public and private developers are the largest customer groups.

OneCo is already established in Sweden through OneCo Sverige AB. It is facilitated that Relacom AB will be part of a larger industrial investment OneCo is now making in Sweden. Relacom AB will continue as a separate company in the OneCo Group.

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

More information about Relacom AB: www.relacom.se