Instalco

What Instalco does

Instalco AB (publ) is a Nordic technical installation services group headquartered in Stockholm, Sweden, publicly listed on Nasdaq Stockholm under the ticker INSTAL. Founded in 2014 through the merger of five installation companies, the group operates a decentralized platform model (the 'Instalcomodellen') comprising more than 150 locally-branded subsidiary companies across Sweden, Norway, Finland, and Germany. Each subsidiary retains its brand, management, and customer relationships while drawing on group-level purchasing agreements, financing, and cross-company collaboration.

The company delivers end-to-end technical solutions across five core disciplines: VS (heating, plumbing, and sanitation), El (electrical), Ventilation, Industri (industrial services including automation and process work), and Teknik & Konsult (technical consulting and design/projektering). Service revenue from maintenance contracts represents approximately 30% of total sales, with project-based installation work comprising the remainder. Customer segments span commercial and residential construction, industrial process customers (energy, pharmaceutical, manufacturing), public-sector projects (schools, hospitals, government buildings), and retail/commercial properties. Notable customers include Veidekke, Biltema, Kristiansands Kommun, Helse Sør-Øst, Oslobygg KF, and Statkraft.

Revenue is generated through project-based contracts (typically SEK 1-75 million) and recurring service/maintenance agreements, with a recent strategic emphasis on energy-efficient installations certified under BREEAM-NOR, Green Building, Miljøfyrtårn, and Instalco's own proprietary Hållbarhetsklassat project rating system. Growth has been driven by serial bolt-on acquisitions of entrepreneur-led regional installers and, in 2024, expansion into Germany via a 24% stake in Fabri AG and the launch of a building automation business area through Inmatiq with a Siemens Smart Infrastructure partnership. The 'Instalco 2.0' programme targets operational efficiency and margin expansion.

Name

Instalco

Legal name

Instalco AB (publ)

Website

https://instalco.se

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Instalco is a Nordic technical installation services group operating through 150+ locally-branded subsidiaries across Sweden, Norway, Finland, and Germany, delivering electrical, HVAC, plumbing, industrial, and consulting services to construction, industrial, public-sector, and commercial customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Installation Services: Project-based installation services for electrical, heating/plumbing (VS), ventilation, and industrial systems in new construction and renovation projects. Revenue recognized over project duration.
2. Service and Maintenance: Ongoing service and maintenance contracts providing recurring revenue. Service work represents approximately 30% of total sales (2023 data).
3. Technical Consulting: Engineering and consulting services including project management, process design, automation, and industrial IT through subsidiary Intec and its acquisitions.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Instalco is a Nordic technical installation group delivering heating, plumbing, sanitation (VS), electrical, ventilation, industrial, and technical consulting services to construction, real-estate, industrial, and public-sector clients across Sweden, Norway, Finland, and Germany. The company operates through a decentralized network of 150+ locally-branded subsidiary companies that retain entrepreneurial customer relationships while leveraging group-wide resources, purchasing agreements, and cross-company collaboration. Service and maintenance work contributes approximately 30% of sales, providing a recurring revenue base on top of project-based installation contracts.

Product overview

Instalco is a Nordic installation services group that operates as a platform of 150+ local subsidiary companies across Sweden, Norway, and Finland. The company offers end-to-end technical services through five core disciplines: VS (heating, plumbing and sanitation), El (electrical), Ventilation, Industri (industrial), and Teknik & Konsult (technical consulting). Instalco's operations span from design/planning through installation to service and maintenance for properties and industrial facilities. The company employs a decentralized business model (the Instalcomodellen) where subsidiaries retain their local brand and entrepreneurial spirit while benefiting from group resources, shared best practices, and improved purchasing agreements. Instalco has a strong focus on sustainability, offering climate-smart and energy-efficient installation solutions, with proprietary sustainability ratings for projects (Hållbarhetsklassade Projekt). The group also provides internal training through Instalcoskolan, apprenticeship programmes, and employee benefits via Instalco-klubben. Recent expansion includes entry into Germany through the Fabri platform.

Differentiator

Problem solved

Functional benefit

Brands

• Fabri: Instalco's platform in the German installation market, comprising multiple installation companies with operations across Germany.
• Instalco 2.0
• Instalco Academy
• Instalco Play

Products and services

• VS (Heating, Plumbing and Sanitation) Heating, plumbing, and sanitation installation services for new construction, renovations, and ongoing repairs — covering district heating, natural gas, heat pumps, tunnel pipes, sanitary facilities, and heating systems for residential, commercial, and industrial properties.
• El (Electrical Installation) Comprehensive electrical installation services for commercial properties, housing, charging stations, and solar panel systems — including KNX, telecom, and alarm installations — delivered by Instalco's electrical subsidiaries across the Nordics.
• Ventilation Climate-smart, energy-efficient ventilation solutions for offices, residential properties, schools, hospitals, and industrial facilities, delivered by specialist ventilation subsidiaries.
• Industri (Industrial Installation) Electrical, power, automation, and process services for process industry, machinery, water, and energy sectors — serving major industries, energy companies, municipal utilities, and public administrations across the Nordics.
• Teknik & Konsult (Technical Consulting) Technical consulting across automation installation, property, energy, industry, infrastructure, and fire protection — including design, planning (projektering), and engineering services delivered through subsidiaries such as Intec and Processus AB.
• Instalcomodellen (The Instalco Model) Instalco's decentralized business and operating model that allows subsidiary companies to maintain their local brand and identity while accessing group resources, best-practice sharing, improved purchasing agreements, and cross-company collaboration.

Quantifiable outcome

• Circular showers save 90% water usage and 80% energy consumption
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• SiemenscoreTechnology or Integration · 29 January 2025Inmatiq, Instalco's automation company, entered into a partnership with Siemens Smart Infrastructure as an 'Advanced partner.' The partnership provides Inmatiq access to Siemens' latest building automation technology, enhancing their smart building solutions capability.
• UniverseumminorStrategic or Co-development Partner · 31 October 2024Extended cooperation in sustainability education. Universeum is Sweden's national science center in Gothenburg focused on developing knowledge in sustainability.
• Wayout InternationalminorStrategic or Co-development Partner · 14 September 2021Partnership to increase access to clean drinking water in vulnerable areas globally. Wayout develops micro-factories for local water purification; Instalco contributes installation expertise.
• Naturskyddsföreningen (Swedish Nature Protection Association)minorStrategic or Co-development Partner · 16 March 2021Collaboration to reduce pharmaceutical residues in the environment. Partnership enables identification of water purification and pharmaceutical discharge work to contribute to cleaner water.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bravida: Largest Nordic multi-technical installation group covering electrical, HVAC, and plumbing services across Sweden, Norway, Finland, and Denmark. Most direct competitor to Instalco with a comparable decentralized subsidiary model and similar mid-market project focus.
• Caverion: Finland-headquartered provider of building solutions, industrial services, and technical installations across Northern and Central Europe. Closely comparable to Instalco in service mix (electrical, HVAC, automation) and customer base (commercial, public, industrial).
• SPIE: Paris-listed European multi-technical services group delivering electrical, mechanical, and HVAC installations plus facility services. Comparable to Instalco as a multi-trade technical installer serving commercial, industrial, and public-sector customers across multiple European geographies.
• YIT: Finnish construction and building services company offering technical installations, HVAC, and renovation services in the Nordics and Baltic states. Overlaps with Instalco's VS, electrical, and ventilation segments and shares the same Nordic project-driven end market.

Broad incumbents

• VINCI Energies: Global infrastructure group providing electrical, HVAC, and ICT services across buildings, industry, and infrastructure. Overlaps with Instalco in technical installations but operates at far larger scale across a much broader geography and customer base.
• Equans: Bouygues subsidiary delivering multi-technical building services, facility management, and energy efficiency solutions across Europe. Comparable in service offering (electrical, HVAC, automation) but materially larger and more diversified than Instalco.
• Engie Solutions: ENGIE's installation and services arm providing HVAC, electrical, and energy efficiency solutions across Europe. Overlaps with Instalco's building-services portfolio as part of a much larger utility-led services platform.
• Bilfinger: German-listed industrial services provider delivering process-industry maintenance, automation, and engineering. Comparable to Instalco's industrial segment (Processus, Intec) but with a heavier industrial/process-industry tilt and different geographic focus.

Others

• NCC: Major Nordic construction company that both competes for project work and is a customer/partner of Instalco's installation subsidiaries. Included as a customer/channel peer rather than a direct installation competitor.
• Skanska: Major Nordic and global construction company that partners with Instalco subsidiaries on technical installation scopes (electrical, HVAC). Included as a channel/customer peer rather than a direct installation competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/instalcosverige
• LinkedInlinkedin.com/company/instalco
• Instagraminstagram.com/instalcosverige
• YouTubeyoutube.com/@instalco
• Xx.com/instalcosverige

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries17 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A33 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Instalco