AF Gruppen acquires a majority stake in Swedish construction contractor

H.A. Bygg Entreprenad AB (H.A. Bygg) was established in 1986 and is today a leading player in concrete work in western Sweden. The company has 62 employees and recorded an average turnover of SEK 360 million in the period 2022–2024, with an operating margin of 10 per cent.

“We are very pleased to welcome H.A. Bygg to AF Gruppen. The company has delivered strong performance over time and has a culture and working method that aligns well with our own. The acquisition strengthens an already solid professional environment within concrete and contributes to further developing our position in the construction of water and wastewater treatment facilities in the Swedish market,” says Bård Frydenlund, EVP at AF Gruppen.

H.A. Bygg will continue as a separate company and become part of the business unit AF Bygg Syd AB within the business area Sweden in AF Gruppen.

“We have come to know AF Bygg Syd and look forward to getting even closer to their value‑based corporate culture. The company has a business concept that aligns with ours, namely to create value and opportunities through project activities with an uncompromising approach towards safety and ethics,” says Kai Simfors, MD of H.A. Bygg.

The agreed enterprise value for 100 per cent of the shares is up to MSEK 140 on a debt-free basis. Part of the consideration is contingent on profitability performance in the period 2026–2028 and will be paid in 2029 if the targets are met. The consideration at completion will be paid in cash.

The transaction is subject to approval from the Swedish Competition Authority and other relevant bodies and is expected to be completed during April 2026.