Caverion acquires Norwegian contractor Simex

NORWAY: Caverion, the Finnish service and maintenance company, has signed an agreement to acquire Norwegian company Simex Klima & Kulde AS. 

Founded in 2016, Simex Klima & Kulde has become one of Stavanger region’s leading suppliers of commercial air conditioning and cooling systems and residential ventilation and heat pumps,

The company has 25 employees and achieved sales of around €4m in 2021. Following the acquisition, Caverion will employ around 215 people in Stavanger. The purchase price is not disclosed but closing is expected to take place in October.

“Becoming part of Caverion provides us completely different access to services, products and expertise that both our customers and employees will benefit from. A lot of exciting things are happening in the development of environmentally and climate-friendly solutions which brings significant opportunities,” commented Simex chairman Jostein Olsen.

“Both of our companies focus on a good indoor climate, operational reliability and efficient energy use. The acquisition complements our service capacity in the region, especially in indoor climate, cooling and heat pumps, onshore and offshore. There is a great demand for such services, which helps us reach a wider customer base in the future,” said Knut Gaaserud, head of Caverion’s Norway division.