ÅF Pöyry resumes its acquisitions
ÅF Pöyry quietly resumed its M&A activity with the acquisition of Borg Technology, a Norwegian mechanical engineering specialist firm for the building industry. We estimate the headcount of Borg to 50.
Standalone ÅF was building up its presence in Norway, focusing on its Infrastructure Division. The acquisition of Borg is consistent with its past strategy of gaining scale in Norway. The strategy is starting to materialize with ÅF Pöyry having 850
In all honesty, this acquisition, albeit small, is a surprise, as ÅF Pöyry had indicated it was putting acquisitions on a pause while focusing on the integration of Pöyry. It is worth noting that Pöyry is acquiring Borg, therefore suggesting that the discussions were initiated before the ÅF Pöyry combination.
All in all, we should know about ÅF Pöyry stands about M&As during its Q1 2019 financial call, with Pöyry consolidated in the accounts of ÅF Pöyry since February 28.