Instalco announced the acquisition of AB Tingstad Rörinstallation.

Instalco, a Stockholm, Sweden-based leading installation company in the Nordic region announced its intetions of expanding its heating & plumbing operations in Gothenburg with the acquisition of AB Tingstad Rörinstallation.

The financial details of the deal were not disclosed.

Tingstad Rörinstallation, founded in 2004 by Mikael Fasnacht, works as both general contractor and subcontractor, as well as serving the after-market. The company has specialized in large central cooling systems and geothermal heating solutions. Its customers are primarily construction companies, such as Vestia Construction Group, Kålltorps Bygg, along with property managers, government agencies and local authorities.

Tingstad has 24 employees, serving customers in Gothenburg and the surrounding area. For the 2018/2019 business year, sales were approximately SEK 65 million ($6.7M)