Acquisition of specialist in piping systems and structural fabrication

Sertion Norway AS has acquired 100% of the shares in IRV AS, a well-established Norwegian provider of high-quality fabrication and installation of piping systems and structural components in carbon steel, stainless steel, and aluminum.

Since its founding in 1986, IRV has built a strong market position in Norway, delivering to industries such as oil and gas, shipping, shipyards, power, food processing, and other process industries. The company has made significant investments in proprietary welding methods, certifications, and automation, and is widely recognized for its highly skilled and efficient workforce. This has positioned IRV as one of Norway’s leading players in its field.

Sertion is a long-term, industrial owner with a deep understanding of our business. We look forward to developing further with Sertion’s support, while continuing to deliver strong customer focus and technical advisory services. Becoming part of Sertion opens up new opportunities for growth and development. We’re excited to combine our experience with Sertion’s resources and ambitions to continue delivering top-tier services. Kjetil Aasbakk Aksnes, CEO of IRV AS

The acquisition marks Sertion’s seventh transaction as part of an ambitious growth strategy. With this step, the Group strengthens its Nordic presence and reinforces its offering within the industrial segment, further positioning itself as a leading international partner for complex heating and plumbing projects, technical infrastructure, and industrial piping. IRV will continue to operate as an independent entity within the Sertion Group, maintaining its current operations and team.

Sertion Norway AS is owned by Swedish private equity firm Consolid Equity, which specializes in consolidating smaller private companies in Northern Europe, with a particular focus on business services in the Nordic region. Sertion Group comprises expert companies in piping and HVAC services, offering design, installation, and maintenance of water, heating, and sanitation systems, industrial piping, and energy gas solutions. Headquartered in Örebro, the Group has 600 employees and annual revenues of SEK 1.7 billion.

The acquisition of IRV AS is fully aligned with our strategy to expand our operations in technical infrastructure and industrial services. IRV’s strong customer base, technical expertise, and experienced team further strengthen our offering and make us an even more complete partner for our clients. Andreas Bogren, CEO of Sertion AB

Oaklins' team in Norway acted as the exclusive financial advisor to the owners of IRV AS in this transaction.

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Øyvind Holtedahl Oslo, Norway
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