Acquires a majority stake in Swedish construction contractor

AF Gruppen is strengthening its concrete operations in Sweden. AF Bygg Syd AB has entered into an agreement to acquire 70 per cent of the shares in H.A. Bygg Entreprenad AB. The remaining 30 per cent will continue to be owned by the company’s employees.

H.A. Bygg Entreprenad AB (H.A. Bygg) was established in 1986 and is today a leading player in concrete work in western Sweden. The company has 62 employees and recorded an average turnover of SEK 360 million in the period 2022–2024, with an operating margin of 10 per cent.

“We are very pleased to welcome H.A. Bygg to AF Gruppen. The company has delivered strong performance over time and has a culture and working method that aligns well with our own. The acquisition strengthens an already solid professional environment within concrete and contributes to further developing our position in the construction of water and wastewater treatment facilities in the Swedish market,” says Bård Frydenlund, EVP at AF Gruppen.

H.A. Bygg will continue as a separate company and become part of the business unit AF Bygg Syd AB within the business area Sweden in AF Gruppen.

The agreed enterprise value for 100 per cent of the shares is up to SEK 140 million on a debt-free basis. Part of the consideration is contingent on profitability performance in the period 2026–2028 and will be paid in 2029 if the targets are met. The consideration at completion will be paid in cash.

The transaction is subject to approval from the Swedish Competition Authority and other relevant bodies and is expected to be completed during April 2026.

For further information: Bård Frydenlund, EVP, AF Gruppen Sweden, tel. +47 918 68 621