Skanska makes bolt-on acquisition in Slovakia (SE/CZ)

Skanska is acquiring the Slovakian installation company Klimavex. The sellers are two private persons. The company will be consolidated in the Czech business unit Skanska CZ as of the first quarter of 2005.

Klimavex has a total of 160 employees. In 2003, the company reported sales of about SEK 100 M (SKK 447 M) and operating profit of SEK 10.3 M (SKK 45.8 M).

Through the bolt-on acquisition, Skanska expands its platform on the growing construction market in Slovakia, where Skanska last year acquired Banske Stavby, a tunnel specialist.

In addition to technical expertise in the installation sector, Klimavex also contributes a strong customer base within the construction sector. The growth and synergy potentials are considered to be high in the Czech Republic as well as Slovakia.

The Klimavex management will continue to lead the company, which will operate as a unit within Skanska CZ.

Source: Skanska

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