Railcare Strengthens Electric Vehicle Expertise With Acquisition
By Chad Elmore27 November 2019
Railcare Group AB has signed an agreement to acquire the electricity company Elpro in Skellefteå AB. The total purchase price was SEK 4.1 million ($427,450) and was financed by its own funds. The transaction is expected to go into effect on Feb. 3, 2020.
“Railcare wants to secure its electricity expertise both today and for future expansion in the machine sales segment. Electricity expertise is an important factor for all machine sales along with future machine sales of the MPV battery vehicle,” said Daniel Öholm, CEO of Railcare Group AB.
Founded in 2010, Elpro in Skellefteå AB has experience in design, programming and assembly. The company currently has an annual turnover of approximately SEK 9 million and today has five employees who are electricians and possess design expertise.
The company has offices in Skellefteå, Sweden, and offers electrical services and installations for companies, design, and installation of machines as well as programming of machines, new or remodeling. The company’s current customers include private individuals, property owners, companies (innovation companies and installers/builders) and industries.
“Elpro in Skellefteå AB has in recent years had half of its staff at Railcare in the workshop in Skelleftehamn and in the spring of 2020, Elpro in Skellefteå will move over to us with staff, offices, warehouses and workshops,” said Öholm. “Since the staff have worked for us for many years, we know them well.”
Rail specialist Railcare Group AB offers products and services in the Nordic countries and the United Kingdom. Earlier this year, the company announced its battery-powered Multi-Purpose Vehicle (MPV) for rail maintenance.