Konstel acquires Elman

Published 5 dec 2023

Konstel acquires Elman

Konstel has today signed an agreement for the acquisition of Elman. The acquisition is strengthening Konstel’s position in the county of Trøndelag through five new companies.

Elman was established in 2008, and as of today consists of 5 operating companies, with a total of 9 departments in Verdal, Levanger, Steinkjer, Leksvik, Stjørdal, Trondheim, Namsos, Rørvik og Brønnøysund.

– The company's development since its founding has been nothing short of impressive. From the beginning, with its five founders, till today's nine locations and 170 employees, they have shown remarkable professionalism, extensive knowledge and a passionate commitment to their profession and industry. These are characteristics they share with other companies in Konstel, according to Konstel CEO Terje Myhre.

– Our robust and profitable growth is the result of well-rooted core values; Pleasant, Engaged and Professional. Our employees are happy, they deliver quality work and are proud of their profession. This is reflected in satisfied customers, says Frank Holmstad, general manager of Elman Norway.

Elman has an annual turnover of almost NOK 300 million through its 5 companies. This turnover is well distributed between project and service assignments, for both the public, private and industry sector.

Konstel is already well represented in several parts of the county of Trøndelag, with electrical installations for private house owners, property developers, property owners, agriculture, industry, and aquaculture.

– With the acquisition of Elman we become an even more competent and complete electrical installer, and are able to meet the demand for electrical installations and energy-efficient services in bigger parts of Mid-Norway, says Lars Ole Hageskal, Regional Director, Konstel.

– We look forward to becoming part of Konstel, while continuing to be Elman as we have always been, for our employees, partners and customers, concludes Holmstad.

The acquisition of the Elman Group makes Konstel one of the leading providers of electrical installations in Trøndelag. The Konstel group's total turnover after the acquisition reaches approximately NOK 2 biillion, and Konstel now holds 30 local electrical contractors with 1170employees.

The completion of the acquisition is subject to approval from the Norwegian Competition Authority.

Konstel is the norwegian business in Nimlas Group AB – a Nordic group within technical installations with over 100 companies and 3,500 employees in Norway, Sweden and Finland.

For questions, please contact:

Konstel – CEO Terje Myhre, phone 92 82 45 44 or email terje.myhre@konstel.no
Elman – CEO Frank Holmstad, phone 40 02 30 07 email frank.holmstad@elman.no