Qben Infra

What Qben Infra does

Qben Infra AB is a Swedish public investment company that acquires and develops infrastructure services businesses in the Nordics, with its shares listed on Nasdaq First North Premier Growth Market since 29 November 2024. Headquartered in Hägersten, Sweden, the group operates a buy-and-build platform targeting niche segments with structural growth, substantial public and private investment, and consolidation opportunities — specifically rail, power grids, and testing/inspection/certification (TIC). Following the two-part divestment of Nordic Infrastructure Group AS (Qben Rail) to Eleda Norge AS completed in November 2025 and January 2026, the remaining portfolio is organized into three business areas: Qben Construction, Qben Power (operating through ININ Power AS and its subsidiary Laje AS in Norway), and Qben TIC. The group is led by CEO Anders Granshagen with a newly appointed CFO, Anders Kjøll, effective 1 September 2026, and a board chaired by Thomas Fjell.

The company's business model is contract-based professional services revenue generated by its operating subsidiaries on infrastructure projects awarded by public-sector and regulated counterparties. Qben Power / Laje AS provides high-voltage electrical contracting, electrification works, municipal lighting modernization, port electrification, and operations and maintenance services, as evidenced by recent contract wins including a NOK 26 million 5 kV high-voltage project with Nedre Romerike water and wastewater company and approximately NOK 40 million in additional electrification contracts awarded in June 2026 (Lillehammer Municipality, Modum Municipality, Grenland Port). Qben Construction and Qben TIC provide additional infrastructure construction and testing/inspection/certification services respectively. Pricing is not publicly disclosed and no product-level technology stack is articulated, consistent with a services-led business rather than a software or platform company.

Qben Infra's go-to-market is sales-led, with subsidiary companies securing contracts directly with municipalities, water and wastewater utilities, and port authorities through competitive procurement and relationship-based selling across Norway and Sweden. The company employs 101-250 people and operates as a public listed entity with ongoing disclosure obligations. Following the Nordic Infrastructure Group AS divestment, the group is obligated to redeem its senior unsecured bonds at 106% of nominal value plus accrued interest — a material capital-structure event that will consume a significant portion of the NOK 653 million in cumulative divestment proceeds and shape the company's near-term capital allocation.

Name

Qben Infra

Legal name

Qben Infra AB

Website

https://qben.se

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

Qben Infra AB is a Swedish-listed infrastructure investment company that acquires and develops Nordic infrastructure services businesses, with a current portfolio spanning Qben Construction, Qben Power (electrical and electrification services), and Qben TIC, serving public-sector and regulated infrastructure customers in Norway and Sweden.

Ownership category

akta.pro rank

Product category

Infrastructure Services

NAICS

Engineering Services (541330)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Testing, Inspection, Certification & Commissioning (TICx) Technical Services (BPAHAIAL)

akta.pro secondary industry

Third-Party Certification, Code Compliance & Regulatory Inspection (ASME/API/ISO) (EUAEAHAN)

Keywords

• Infrastructure services
• Power grid services
• Electrification contracting
• Testing inspection certification
• Infrastructure construction

Headquarters

HQ city

Hägersten

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Infrastructure Services: Qben Infra generates revenue through its portfolio companies that provide infrastructure services including construction, power grid services, and testing/inspection/certification (TIC) services. The company focuses on specialized segments with strong structural growth, significant public and private investment.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Qben Infra is a Swedish infrastructure investment company that acquires and develops companies providing infrastructure services in the Nordic region. Through wholly-owned subsidiaries such as ININ Group AS, ININ Power AS, and Laje AS, it delivers infrastructure construction, power and electrification services, and testing, inspection and certification (TIC) to public and private sector clients. The company focuses on niche markets with strong structural growth, substantial government investment, and consolidation opportunities in rail and power grid infrastructure.

Product overview

Qben Infra operates as an investment company that develops companies within infrastructure services in the Nordic region. The company manages a portfolio organized into four business areas: Qben Construction (infrastructure construction), Qben Power (power/electrification services via ININ Power subsidiary including high-voltage electrical work, municipal lighting, and port electrification), and Qben Testing, Inspection & Certification (TIC). The company focuses on specialized segments within rail and power grid infrastructure markets driven by strong growth trends, substantial government investments, and consolidation opportunities. Note: The fourth business area mentioned in the source (previously Qben Rail/Nordic Infrastructure Group) has been divested.

Differentiator

Problem solved

Functional benefit

Brands

• Qben Construction: Infrastructure construction services portfolio company
• Qben Power
• Qben Testing, Inspection & Certification (TIC)

Products and services

• Qben Construction Infrastructure construction services within the Nordic region, delivered through portfolio companies that build, modernize and maintain critical infrastructure. Targeted at public and private infrastructure owners in Sweden and Norway.
• Qben Power Power and electrification infrastructure services, including high-voltage electrical system design, delivery, assembly, testing and commissioning, municipal lighting upgrades, port electrification, and operation and maintenance of public infrastructure. Delivered to municipalities, water/wastewater utilities, and port authorities via Laje AS.
• Qben Testing, Inspection & Certification (TIC) Testing, inspection and certification (TIC) services within infrastructure, delivered through a specialized portfolio company targeting niche markets with strong structural growth and significant public and private investment.

Named customers4 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor and core.

• Eleda Norge ASminorStrategic or Co-development Partner · 28 January 2025Eleda Norge AS acquired Nordic Infrastructure Group AS from Qben Infra AB and ININ Group AS. The divestment was completed in two parts: 19.5% stake sold for approximately NOK 131 million on 20 November 2025, and remaining 80.5% stake divested for approximately NOK 522 million on 28 January 2026.
• ININ Group AScoreStrategic or Co-development PartnerININ Group AS is Qben Infra's subsidiary through which the company operates its infrastructure investments. The group includes ININ Power AS and its subsidiary Laje AS, which provides electrification and technical infrastructure services.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

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

M&A

Investments

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

Frequently asked questions about Qben Infra