# EQVA closes acquisition of Kvinnherad Elektro and Vassnes Group

EQVA ASA has closed the acquisition of Kvinnherad Elektro AS and its 51% stake in Vassnes Solutions AS, consolidating them under Nordic Industrial Solutions (NIS). The deal was announced on 14 May 2024 and closed on 18 September 2024.

- Type: Acquisition
- Announced: 2024-09-18
- Where: Norway
- Status: completed
- Products: power and automation services, engineering services, welding services
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Eqva](https://endata.com/companies/74226.md) (acquirer)
- [Kvinnherad Elektro](https://endata.com/companies/79900.md) (target)
- [Vassnes Solutions](https://endata.com/companies/79901.md) (target)
- [Nordic Industrial Solutions](https://endata.com/companies/81413.md) (partner)

## Sources

- [finansavisen.no](https://www.finansavisen.no/borsmeldinger/2024/09/18/9910b456-9c67-57d3-9f61-2b2b2d4e922a/eqva-acquisition-of-kvinnherad-elektro-and-vassnes-group-closed), 2024-09-18: "Through the establishment of NIS and acquisition of Kvinnherad Elektro and Vassnes Group, EQVA continues to deliver on its strategy for growth and broadening of its service offering."
- [eqva.no](https://www.eqva.no/post/acquisition-of-kvinnherad-elektro-and-vassnes-group-closed), 2024-11-28: "Through the establishment of NIS and acquisition of Kvinnherad Elektro and Vassnes Group, EQVA continues to deliver on its strategy for growth and broadening of its service offering."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.