SELATEK continues to expand in south-eastern Sweden through the acquisition of ELIAS Syd

ELIAS Syd joins SELATEK and thereby further strengthens the Group's position in south-eastern Sweden. With its wide offering within electrical installations and strong brand, ELIAS Syd is one of the leading players on the market with a particularly strong position in Blekinge. The acquisition is SELATEK's second in Blekinge in a short time and fourth in southern Sweden so far this year.

ELIAS Syd was founded in 2005 by Ingmar Eliasson and has revenues of around SEK 100m. The Company has offices in Olofström, Karlshamn, Ronneby, Karlskrona and Bräkne-Hoby and employs around 80 dedicated co-workers. Industrial installations have been an area in which the company has specialist competence and the Company has today a large and diversified portfolio of well-renowned and recurring customers. The employees' technical knowledge and proven ability to manage highly complex projects have been large success factors during the years.

"We are excited and thankful that ELIAS Syd has chosen to be part of our Group. SELATEK consists of well-established companies with strong brands, which is also significant for ELIAS Syd. We look forward to maintaining and developing the Company that has been built since 2005. ELIAS Syd will be our second acquisition in a short period in Blekinge and demonstrates our ambition to be the market-leading player in the region. We see significant synergies between SELATEK's existing companies in eastern Skåne and Blekinge and look forward to the continued joint development and growth." says Magnus Löfgren, CEO of SELATEK.

"We are very proud of everything that ELIAS Syd has accomplished during these 18 years and would like to thank all our employees that have been part of building the Company. Together we have become a strong player and increased the value for our customers. We are very pleased that ELIAS Syd is now part of SELATEK. As responsible for our employees and customers, we cannot consider a better owner for the next generation ELIAS Syd." says Ingmar Eliasson, founder and owner.

SELATEK is a Swedish leading provider of security solutions, electrical installations and automation with a focus on sustainability and technology. The Group operates in the greater Stockholm area and Southern Sweden and has c. 600 employees.