NYAB expands its energy sector offer – integrates acquisition of Power Forze

NYAB's management sees strong growth opportunities within the market for power and electricity distribution. To meet the increasing demand and expanding its offer in the sector, NYAB will integrate the operations of group company Power Forze into NYAB Sweden's operations from June 1, 2024. 

Power Forze, which has operated under its own brand since NYAB's acquisition in 2022, offers services in power installations for industry and wind power as well as services for electricity distribution from 20 kV to 400 kV, mainly in northern Sweden. Within the NYAB group, Power Forze has contributed to several successes, including the assurance of the Aurora Line project, where NYAB is building a 400 kV transmission line for a 90 km distance of the main grid connection between Sweden and Finland on order from the main grid company Svenska kraftnät. 

The integration of Power Forze’s operations into NYAB Sweden gives NYAB a competitive overall offer in power and electricity distribution by bringing together the group's broad expertise in the service portfolio. The delivery capacity will also strengthen through harmonisation of project methodology. 

"We are thrilled that the expertise and competence found in Power Forze is now joining NYAB Sweden. The accumulated expertise opens attractive business opportunities linked to the investments planned to secure the electricity supply of the future. Together, we can offer a full-service offer and a broad service portfolio to both the market and our employees. We will also be able to collaborate across national borders more seamlessly, which provides synergies and new opportunities," says Johan Larsson, NYAB's CEO. 

Power Forze was founded in 2020 and has been operating mainly in northern Sweden, but after the integration it is expected that Power Forze's services and expertise can also be offered in other parts of Sweden and Finland. 

"We look forward to continuing our work within the NYAB Group and deliver high-quality services to our customers. As part of NYAB, we get the opportunity to further expand the business through increased competence, a sharper overall offer and a clearly improved internal support structure when it comes the IT, staff matters and training", says Stefan Helmvall, Energy Work Manager at NYAB, previously CEO at Power Forze. 

Power Forze's existing customers, partners and suppliers will not be affected by the change as entered contracts and agreements will continue within the original company, which will remain in place until further notice, while new operations are transferred to NYAB.