AF Gruppen acquires Eviny Solutions

Eviny Solutions is an engineering and contracting company headquartered in Bergen, with branch offices in Førde, Volda, and Ålesund, and a technician base in Stord. The company was established in 2016 and is part of the energy and technology group Eviny. With approximately 230 employees, Eviny Solutions has a solid and multidisciplinary professional environment within design and contracting services for electrical infrastructure.

In 2025, Eviny Solutions expects revenues of NOK 759 million and EBITDA of NOK 36 million, corresponding to a margin of 4.8%.

“AF Gruppen aims to be a leader in solving important societal challenges. In the coming years, the need for upgrading the power grid and electrification will increase to ensure a safe and sustainable power supply. Eviny Solutions has a strong professional environment that delivers turnkey projects, operations, and maintenance within electrical infrastructure. With this as a foundation, we are well positioned to deliver operations and maintenance, as well as strengthen our competitiveness in complex projects within a new segment,” says Amund Tøftum, CEO of AF Gruppen.

The agreed enterprise value for 100 percent of the shares is up to NOK 140 million on a debt-free basis. The consideration will be paid in cash. A significant portion of the consideration is conditional on profitability and safety performance during the period 2025-2027 and will be paid in 2028 if the targets are met. The purchase price for 80 percent of the shares at closing is agreed to NOK 71 million. The acquisition is subject to approval by competition authorities. The transaction is expected to be completed in Q3 2025.

Eviny Solutions will remain a separate company and will be part of the Energy and Environment business area in AF Gruppen.