Aarsleff acquires 100% ownership of Olimb Rørfornying AS
In 2017, Per Aarsleff A/S bought 51% of the shares in Olimb Rørfornying AS. An option to acquire the remaining 49% and thereby obtain 100% ownership of the company has now been activated on the 1st of January 2022.
In 2012, Olimb was split into two independent units; Olimb Rørfornying AS and Olimb Anlegg AS. The Olimb family were still the owners, but continued only in the operation of the Olimb Plant. Olimb Rørfornying was continued without the family management, and in 2017 the majority of the shares were sold to Per Aarsleff A/S.
Olimb Rørfornying has had enormous development as an independent unit. Especially in the last five years, which have produced a fantastic total result of over NOK 250 million.
The development and sale of Olimb Rørfornying has obviously been a financial adventure. The list of knowledgeable and hard-working employees who deserve thanks is long.
In addition to the results for the last five years, turnover growth has been over 70 percent, despite two years of pandemic. Last financial year alone, the company had a turnover of NOK 342 million, with a profit before tax of NOK 64 million.
The last five years’ results are in sum equivalent to the company’s previous 60 years.
Olimb Pipe Renewal and Olimb Plant are two independent companies with different owners
Now that Per Aarsleff A/S has bought 100% of the shares in Olimb Rørfornying AS, the business relationship between Olimb Rørfornying and Olimb Anlegg also comes to an end. The two companies are now two completely independent companies. The difference in activity is well described in the company names.
Olimb Anlegg continues as a family-owned company, while Olimb Rørfornying AS is part of the Per Aarsleff Group’s activities in Norway together with Sør-Norsk Boring AS, Steg Entreprenør AS and Banedrift AS.
Solid international owner secures the future for employees in Olimb Rørfornying
Per Aarsleff A/S is a large, industrial owner with an annual turnover of approximately NOK 20 billion within construction and infrastructure.
In the pipe renewal segment, Per Aarsleff A/S is the largest manufacturer and installer in Europe. Olimb Rørfornying AS accounts for 10% of the group’s turnover in this area.
Per Aarsleff A/S has ambitions for increased investment and significant growth in Norway in the coming years. Good operations, good finances and good owners secure the future for the employees of Olimb Rørfornying.
Good conditions for further development
– This is an ownership that ensures Olimb Rørfornying good purchasing conditions in the international market, as well as safe access to the best methods that are being developed, says general manager of Olimb Rørfornying, Roar Haugland.
These were also important factors in 2017. As a consequence of this, the sale of Olimb Rørfornying became a reality.
– Olimb Rørfornying AS today consists of both well-established and new expertise. Both parts will contribute to expand the company further into an industrialized player for the future. At the same time, we must be recognizable in our values, and take care of the established, good relationships we have in our industry, assures Roar Haugland.