Lassila & Tikanoja’s Industrial Services business enters the Swedish market
Lassila & Tikanoja
Investor news
1 February 2022
Lassila & Tikanoja’s Industrial Services business enters the Swedish market
Lassila & Tikanoja’s Industrial Services division has acquired 70 percent of the shares of Sand & Vattenbläst i Tyringe AB (”SVB”) that offers process cleaning services in Sweden, on 1 February 2022. Through the acquisition, L&T’s Industrial Services division enters the Swedish process cleaning market.
Operating in Southern Sweden, SVB’s net sales in the last fiscal year were approximately EUR 10 million and the company has approximately 60 employees. SVB offers a variety of process cleaning services such as high pressure washing, high-power vacuuming and water cleaning services to industrial customers. The company will continue operating under the name of SVB and SVB’s Jonas Björk has been appointed as the CEO of the company.
“Our aim is to be the most beneficial partner for industrial companies, now also in Sweden. SVB’s strong position in the Swedish industrial services market combined with L&T’s method development activities and resources allows us to support our industrial customers even better in their process cleaning needs”, says Antti Tervo, Senior Vice President, L&T’s Industrial Services.
The acquisition takes place February 1, 2022, and the financials of the company will be reported as part of L&T’s Industrial Services division starting from the first quarter of 2022.
Currently, in Sweden L&T operates in the facility services business and employs 1,100 people.
For additional information, please contact:
Antti Tervo
Lassila & Tikanoja
Senior Vice President, Industrial Services
Tel. +358 50 349 3702
Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions’ carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. With operations in Finland and Sweden, L&T employs 8,171 people. Net sales in 2021 amounted to EUR 812.5 million. L&T is listed on Nasdaq Helsinki.
