Acquires a majority stake in Swedish construction contractor

13 Feb 2026 07:00 CET

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

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