MARKET ANALYSIS | TECHNICAL INSTALLATION SERVICES - JUNE 2024
Technical installation services companies delivering consistent results despite economic headwinds
Despite inflation, rising interest rates, and geopolitical turbulence, the technical installation services industry in Norway remains resilient. Leading players in electrical services, heating and plumbing, HVAC and other installation services are adapting through consolidation and strategic acquisitions.
A strong focus on digitization, automation, sustainability and energy efficiency continues to drive the market, with increasing demand for green energy solutions and smart technologies. Companies are adopting innovative solutions to improve operational efficiency and comply with new regulatory standards.
The Nordic listed companies emphasize the importance of maintaining operational efficiency and cautious project selection to handle cost inflation and higher interest rates to maintain or improve their profit margins. While they experience a clear dampening effect with regards to development of new properties and, hence, new installations, the renovation market remains stable and they still anticipate good markets in selected areas such as infrastructure, industry, defense facilities, and civil engineering.
Despite a slower start to the M&A market in Q1’24 compared to recent years, the market is still resilient, with both strategic (industrial) and private equity players continuing to consolidate the market and pursuing their buy-and-build strategies.
In this newsletter, we explore the recent trends and dynamics within the technical installation services industry in Norway, hopefully offering some valuable insights for business owners and investors looking to navigate this evolving landscape.
M&A activity ’19 – ‘23 - type of acquirers
Looking ahead, we still anticipate relative high M&A activity as strategic acquirers continue to consolidate their positions and private equity backed companies pursue their buy-and-build strategies.Dan Petterøe, Partner at Oaklins Norway
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