Bilfinger Berger Industrial Services Group (BIS Group) is acquiring Are Oy Industrial Services (Are IS), a specialist in electronic instrumentation and control technology (E/I&C) in Finland. The company has around 230 employees and generates annual revenues of some EUR 25 million. The seller Are Oy is parting ways with its successful industrial services business to concentrate on its core building service activities. The two parties have agreed not to disclose the purchase price.
Are IS has operations at key industrial sites across the country, with a customer list including such renowned names as Ruukki, Neste Oil and Borealis. Around 70 percent of its revenues are generated from ongoing plant maintenance. “After entering the Finnish market last year, we are adding electrical engineering and automation technology to our range of services with the acquisition of Are IS. This is a perfect fit for our previous activities in piping and mechanics. We expect to be able to harness cross-selling effects and thus generate further business thanks to this broader portfolio and access to new customers”, says Dr. Michael Herbermann, CEO of the BIS Group.