SERWENT completes the acquisition of Swoosh Group AB

SERWENT has received the necessary regulatory approval and completed the acquisition of Swoosh Group AB. Around 400 Swoosh employees are now part of the Group, which has operations across Sweden, Norway and Denmark and annual pro forma revenues of approximately NOK 2.5 billion.

From agreement to one company

SERWENT announced the agreement to acquire Swoosh in August. With the transaction now completed, the focus shifts to building the company together. That means bringing the best of both organisations together, learning from each other and creating an even stronger offering for customers and an attractive workplace for employees.

“I am incredibly pleased that we can now truly welcome Swoosh to SERWENT. We have been looking forward to this moment since we announced the transaction in August. Swoosh is a fantastic company with great people, strong capabilities and an impressive position in the Swedish market. Now the exciting part begins: working together to build what we believe can become the best company in our industry,” says Aleksander Holter, CEO, SERWENT Group.

A stronger presence across Sweden

Swoosh adds significant scale and capabilities to SERWENT’s Swedish operations, including a nationwide presence and a particularly strong position in northern Sweden. Swoosh’s services include drain cleaning, jetting, CCTV inspection, relining and sealing. With SERWENT strongest in central Sweden, the two businesses complement each other with limited overlap. Combined with SERWENT’s existing businesses and specialist capabilities, the Group can serve customers with a broader range of services and greater capacity across the country.

“Today is first and foremost about welcoming our new colleagues. We now have a unique combination of people, competence and local presence across Sweden. I am very much looking forward to bringing our organisations closer together and, together with our colleagues at Swoosh, building an even better company for our customers and employees,” says Alexis Brundin, Managing Director, SERWENT Sweden.

Continuity for customers and employees

Swoosh’s management team will continue to play an important role in the business. The immediate priority is to ensure continuity for customers and employees, while the two organisations begin identifying opportunities to collaborate, share expertise and develop the combined business.

“We are very pleased to now officially become part of SERWENT. From our discussions over the past months, it is clear that we share both ambitions and values. We are excited about what we can achieve together and look forward to contributing to the next chapter for both Swoosh and SERWENT,” says Niklas Knight, CEO, Swoosh Group AB.

Raising the bar together

Growth is one part of the plan. Alongside it, SERWENT and Swoosh will work to raise the standard across the organisation by sharing expertise and best practices, investing in people, technology and innovation, and continuously improving how the Group serves its customers.

The Group’s ambition is to build the leading provider of critical water and wastewater infrastructure maintenance services in the Nordic region.

For further information, please contact:
Aleksander Holter, CEO, SERWENT Group
aleksander.holter@serwent.no